As July 26th Hearing Date Approaches, SSEK Law Firm Continues to Investigate Northstar Financial Services (Bermuda)

MIAMI, July 20, 2021 /PRNewswire/ — Shepherd Smith Edwards and Kantas continues to pursue the brokerage firms whose registered representatives unsuitably…

MIAMI, July 20, 2021 /PRNewswire/ — Shepherd Smith Edwards and Kantas continues to pursue the brokerage firms whose registered representatives unsuitably recommended and sold Northstar Financial Services (Bermuda) products to their customers. 

Already, we have filed several FINRA arbitration claims against broker-dealers on behalf of investors. 

We are also continuing to monitor liquidation proceedings, which the Bermuda Supreme Court set into motion after it rejected Northstar Financial Services (Bermuda) Ltd.’s request for more time to restructure. The company filed for Chapter 15 bankruptcy in 2020.

The next step is a hearing on July 26, 2021. The Court is expected to set up a process for Northstar account holders to be notified whether variable and fixed accounts should be considered segregated accounts under the British island territory’s law.  

Northstar Financial Services (Bermuda) sold various insurance and investment products, with fixed- and variable- rate annuity products, including:

  • Global Interest Accumulator
  • Global VIP Elite
  • Global Advantage Select
  • Global Advantage Plus Series
  • Global Index Product 

However, given the company’s financial woes, it is unlikely that investors will recover much unless they have seasoned legal help. Many investors have suffered six-figure losses in these off-shore products, which their brokers touted to them as safe investments. Estimated total losses are said to be over $70M

Even after Lindberg was indicted on criminal charges in 2019, many firms and their brokers never bothered to notify investors of this development or remove them from these investments.

SSEK Law Firm is committed to helping Northstar Financial Services (Bermuda) investors in recovering their losses against the firms that unsuitably sold these off-shore products, including:  

Unsuitability, misrepresentations and omissions, overconcentration, gross negligence, and failure to supervise are among the allegations we have already brought against these firms in FINRA arbitration on behalf of our clients. 

SSEK Law Firm is currently fighting for Northstar Financial Services (Bermuda) investors in the US, throughout the Americas, and in Asia. To speak with an experienced securities arbitration lawyer to discuss your Northstar Financial Services (Bermuda) losses, please contact us below.

Kirk Smith,

US Toll Free: (800) 259-9010

Mexico Toll Free: (800) 283-3403

International via WhatsApp (text only): 713-227-2400

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SOURCE Shepherd Smith Edwards & Kantas LLP