Thomas Sova, formerly with Hornor, Townsend & Kent, Suspended Five Months from Securities Industry
Have you lost money with financial advisor Thomas Sova from Baton Rouge, Louisiana? We are looking into allegations made by FINRA (the Financial Industry Regulatory Authority) against Thomas E. Sova. FINRA suspended Sova from the securities industry for five months, fined him $5,000, and ordered him to disgorge $5,000 in commissions. Sova was being investigated regarding allegations that he sold $250,000 in investments in the Woodbridge Group of Companies. Last year, Woodbridge filed for bankruptcy, and investors will likely suffer substantial losses.
Thomas Sova was a registered representative and financial advisor with Hornor, Townsend & Kent from 2007 to June 2018. He worked out of a branch office in Baton Rouge, Louisiana. He was also terminated by Hornor, Townsend & Kent for his sales of Woodbridge.
Broker-dealers like Hornor, Townsend & Kent have a responsibility to adequately supervise all representatives who are registered through their firm, including investments sold by their registered representatives. Broker-dealers also must take steps to ensure that their financial advisors follow all securities rules and regulations. When broker-dealers fail to adequately supervise their registered representatives, they may be liable for investment losses sustained by customers.
Israels & Neuman PLC is a securities and investment fraud law firm with offices in Denver, Colorado; Seattle, Washington; and Ann Arbor, Michigan. We represent investors in FINRA arbitration proceedings in all 50 states, including investors in Louisiana. Our attorneys have represented over one thousand investors against many brokerage firms in the past.
Click to view: Thomas Sova BrokerCheck
Click to view: Thomas Sova FINRA AWC
If you have lost money with Thomas Sova and Hornor, Townsend & Kent, and want to hear about ALL legal options, please visit https://www.israelsneuman.com/ or call us at 720-599-3505.