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PRESS RELEASE: Israels & Neuman, PLC Files Arbitration Claim Associated with Doug Simanski Investment Losses


PRESS RELEASE: Israels & Neuman, PLC Files Arbitration Claim Associated with Doug Simanski Investment Losses

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PITTSBURGH, Aug. 30, 2016 /PRNewswire/ — Israels & Neuman, PLC is a securities fraud law firm with offices in DenverSeattle, and Ann Arbor.  Israels & Neuman announces that its investment fraud attorneys have filed an arbitration claim in the Financial Industry Regulatory Authority (FINRA) Dispute Resolution System arising from losses incurred on behalf of two former clients of financial advisor Douglas (Doug) Simanski, formerly of NEXT Financial Group, Inc.


The Complaint (also known as a Statement of Claim) was filed on behalf a retired couple, and alleges that Simanski sold the couple on what they thought was a safe investment for retired investors.  The Statement of Claim goes on to allege that the purported investment was a fraud, and that the funds were misappropriated by Simanski.  The Statement of Claim is brought against NEXT Financial Group, Inc. and alleges that the damages were caused by its failure to supervise Mr. Simanski.


Public records indicate that the conduct complained of by Israels & Neuman’s clients is not an isolated incident.  According to FINRA’s BrokerCheck system, there are four other pending customer complaints involving Simanski, which allege aggregate damages in excess of $400,000.00.


The attorneys at Israels & Neuman believe that there are other victims of Doug Simanski who have yet to come forward.  In response, Israels & Neuman has launched an independent investigation into losses associated with Simanski’s conduct.  Israels & Neuman reminds investors that financial advisors have a duty to put a client’s best interest before their own and to follow all laws and regulations related to securities.  If an advisor misappropriates money from his client’s accounts, their employing brokerage firm could be liable for investor losses.  Israels & Neuman has extensive experience in representing investors who have been defrauded by brokers, including in theft and Ponzi scheme cases.  Its attorneys represent investors in FINRA arbitration proceedings in all 50 states, including central and western Pennsylvania, and are standing by ready to discuss recovery options with Simanski victims.




                Denver Office: (720) 599-3505

                Seattle Office: (206) 795-5798


Israels & Neuman, PLC is a private law firm and is not affiliated with any government or law enforcement agency.  Any investigation referenced in this blog is independent in nature and is being conducted by our law firm privately, not in conjunction with any government or law enforcement agency.  All information contained in this blog should be deemed statements of opinion derived from the author’s review of public records, not statements of fact.  This blog is advertising material and does not create an attorney client relationship, nor does it constitute legal advice.  Everyone’s situation is different and the question of whether or not you have a claim will vary on a case-by-case basis.  In contingent representation, clients may still be liable for costs.



DENVER: (720) 599-3505

SEATTLE: (206) 795-5798

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