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Investor Seeks Over $2 Million in Damages in Dispute with LuAnn Gatts

Jan 18, 2023 Misrepresentation

LuAnn Gatts (CRD #: 2456294), a broker registered with Securities America, allegedly acted negligently, according to her BrokerCheck record, accessed on January 10, 2023. Investors may have also engaged her services through Securities America Advisors. If you want to know more about her alleged conduct as a broker, keep reading.

Investor Dispute

In a dispute filed on October 12, 2022, an investor alleged that LuAnn Gatts “mishandled” beneficiary change forms and misrepresented when these forms were received, resulting in the client losing half of their inheritance. The client also alleged gross negligence, negligent misrepresentation, and negligent undertaking.

The investor seeks $2,167,458 in damages.

FINRA Rule 2020

FINRA Rule 2020 bans the use of manipulation, deception, or otherwise fraudulent methods of influencing investors’ decisions. The misrepresentation or omission of material facts related to investments violates this rule.

What is broker negligence?

Brokers may act in many negligent ways, ranging from giving unsuitable investment recommendations to engaging in excessive or unauthorized trading.

Investors who feel their losses are the result of broker negligence may be able to recover their funds by pursuing FINRA arbitration

Background Information

LuAnn Gatts has passed the following exams:

  • Series 63 – Uniform Securities Agent State Law Examination
  • SIE – Securities Industry Essentials Examination
  • Series 7 – General Securities Representative Examination
  • Series 6 – Investment Company Products/Variable Contracts Representative Examination
  • Series 24 – General Securities Principal Examination

LuAnn Gatts is a registered broker in Iowa, South Dakota, and Texas. She is also a registered investment adviser in Texas.

She has also worked for the following firms:

  • LPL Financial (CRD#:6413)
  • Argentus Securities (CRD#:45915)
  • The Lloyd Financial Group (CRD#:25994)

Kurta Law Can Help

If you worked with LuAnn Gatts and you have concerns about your investments, please contact us today at 877-600-0098 or for a free consultation.

For over 20 years, Kurta Law has advocated on behalf of investors who want to recover their investment losses from brokers and brokerage firms. Kurta Law is a nationally recognized law firm and exclusively represents investors against brokers and brokerage firms on a contingency basis. This means that the firm only earns a fee if our securities attorneys recover money on your behalf.