CLEVELAND and PHILADELPHIA, July 27, 2023 (GLOBE NEWSWIRE) -- Investors in Premier Global who purchased their investments through Nicholas “Nick” Stovall, a Minnesota investment professional, have hired the investor rights lawyers at the Rosca Scarlato law firm to pursue claims for compensation in connection with their Premier Global investments. The Rosca Scarlato lawyers have started filing claims on their behalf, against a Minnesota financial service company that employed Stovall, a previously registered financial advisor in Arden Hills, MN. The law firm represents multiple families of Premier Global investors in Minnesota and Oklahoma and is preparing to file additional claims on their behalf, to seek compensation for their Premier losses.
The complaint filed by the Rosca Scarlato attorneys alleges that Mr. Stovall’s former employer failed to conduct adequate due diligence prior to him recommending the Premier Global investments, which were unregistered and fraudulent, to investors. The complaint further alleges that Mr. Stovall’s former employer failed to adequately supervise his Premier Global-related activities. According to recent regulatory disclosures, Nick Stovall was “permitted to resign” on July 21, 2023, following allegations of violations of his employer’s policies and procedures, the solicitation of unapproved products, failure to notify his employer of a regulatory inquiry in a timely manner, and failure to provide timely notification regarding a subpoena and investigation that was initiated by the State of Kansas Securities Commissioner.
The Premier Global Ponzi Scheme
Premier Global Corporation, Premier Factoring, related PF funds (“Premier”), and dozens of sales agents are subject to pending regulatory actions by securities regulators in Kansas and Oklahoma in connection with allegedly orchestrating a fraudulent, Ponzi scheme that raised over $100 million from hundreds of investors nationwide through misrepresentations and omissions. Premier has been placed into receivership.
The Rosca Scarlato Investor Lawyers Are Preparing to File Additional Claims for Compensation on Behalf of Premier Global Investors
The Rosca Scarlato attorneys currently represent numerous Premier Global investors in Minnesota and Oklahoma, and are working to seek compensation for their Premier losses from financial service companies that employed some of the agents who promoted Premier to investors. The Rosca Scarlato attorneys’ goal is to supplement whatever recovery may be available to those investors through the liquidation of Premier’s assets in the receivership proceedings.
Premier Global investors may contact investor rights attorneys Alan Rosca and Paul Scarlato with any questions regarding this matter and their investment losses, or to offer useful information, toll free at 888-998-0530, via email at arosca@rscounsel.law or pscarlato@rscounsel.law, or through the contact form on the Premier Global Investor Center page. All evaluations are free.
The Rosca Scarlato attorneys typically take cases on behalf of investors on a contingency fee basis, advance all case expenses, and only get paid for their fees and expenses if and when they are successful.
* This release may be deemed to include Attorney Advertising. There has been no finding of liability as to any of the allegations herein, and the referenced proceedings are currently pending and have not been adjudicated.
