Lincoln Financial Sued By Investors Unsuitable REIT Sales
Peter David Maller of Hunt Valley Maryland a stockbroker registered with Lincoln Financial Advisors Corporation is the subject of a customer initiated investment related arbitration claim where the customer sought unspecified damages based upon accusations that the customer fell victim to deceptive and unsuitable practices by Maller as the customer’s life savings had been placed into inappropriate alternative investments including illiquid real estate securities as well as annuities during the period in which Maller was associated with Lincoln Financial Advisors. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02371 (Aug. 22, 2019).
This is not the first time that Maller has been referenced in a customer initiated investment related dispute containing allegations of his wrongdoing in the securities industry. FINRA Public Disclosure reveals that Maller is also referenced in a customer initiated investment related complaint on March 29, 2017 in which the customer requested unspecified damages based upon allegations of the customer not being notified by Maller about the illiquidity of direct investments he sold while registered with Lincoln Financial Advisors.
On April 19, 2019, another customer filed an investment related arbitration claim concerning Maller’s activities where the customer sought $350,394.00 in damages founded on accusations that an investment strategy recommended by Maller failed to be suitable for the Lincoln Financial Advisors customer and had led the customer to experience unwarranted tax liabilities on real estate security transactions. FINRA Arbitration No. 19-00941.
Maller has been associated with Lincoln Financial Advisors since March 29, 1993.