Los Angeles attorney and Haute Lawyer partner Tre Lovell filed a $50 million lawsuit against Wells Fargo Advisors for financial mismanagement and related claims on behalf of the multi-million dollar Dougher Trust. Mr. Lovell and his co-counsel, Brandon Reif of The Reif Law Group, filed the lawsuit in the San Diego Superior Court.
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Lovell, of The Lovell Firm, P.C., said, “As the detailed facts demonstrate in the complaint, we believe the actions of Wells Fargo amount to a brazen and egregious dereliction of financial duties and mismanagement to a level that is truly appalling and shocking. Legal and regulatory wrongdoing are unacceptable under any circumstances, and we intend to prove our client’s claims and seek complete and comprehensive redress.”
Added Reif, of the Reif Law Group, P.C., “Had the defendants presented a financial plan with tax mitigation strategies, our client’s wealth would have been preserved and grown.” Reif added, “An investment advisor’s duty to provide skilled advice applies with equal force for the wealthy client.”
In the complaint, Lovell’s client alleges that Defendants, “failed to render an investment advisory strategy plan for Plaintiff for more than $31.5 million dollars in capital harvested from the sale of investment real estate, as well as competent management advice over Plaintiff’s general finances.”
By Andres E. Caceres
Legal News
October 14, 2020New Jersey New Law Fines Polluters
