- Report: #960922
Report - Rebuttal - Arbitrate
Complaint Review: Lars Soreide Law Firm
Lars Soreide Law Firm511 NE 3rd ave Fort Lauderdale, Florida United States of America
Lars Soreide Law Firm Unethical Fort Lauderdale, Florida
*REBUTTAL Owner of company: Not posted by client, false report
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Law360, New York (October 31, 2011, 10:07 PM ET) -- Rockwell Global Capital LLC sued a former employee, a former customer and a Florida securities lawyer for $15 million on Monday, accusing them of conspiring to obtain confidential company information in order to lodge regulatory actions against the brokerage. Rockwell's suit, filed in New York state court, claims former employee Salvatore Clark stole a list of Rockwell customers who bought convertible notes of privately-held company Simply Fit Holdings Group Inc. or received information about its securities. Clark provided the customer information to Frederick J. Seely, a former Rockwell customer who invested in Simply Fit and his attorney Lars K. Soreide, according to the suit.
Since June, Soreide has used that information to launch several arbitration actions against Rockwell through the Financial Industry Regulatory Authority, the suit says. Rockwell's allegations against the three men include tortious interference, civil theft and conspiracy, and seeks $15 million in actual and punitive damages. The suit also claims Clark breached the terms of an August settlement agreement in his FINRA arbitration proceeding against Rockwell and company President and CEO Bruce J. Guarino. According to the suit, Soreide sent Seely an email on Aug. 17 asking if he ever received a letter from Guarino in which he confirmed that he knew Simply Fit was run by a convicted felon.
"Just spoke with a broker at Rockwell by the name of Sal Clark who said he was aware of such a letter and that he is trying to track it down," Soreide wrote. On Sept. 3, Soreide sent a mass email to Simply Fit shareholders, saying his law firm represented several investors who filed FINRA arbitration actions against Rockwell for the sale of Simply Fit securities and asking if they could provide any information that would help his clients recover their funds, according to the complaint. The email's recipients were all Rockwell customers, but not all had invested in Simply Fit, according to Rockwell.
"Indeed, some of the recipients of the September email never invested in Simply Fit and never even received a copy of Simply Fit's private placement memorandum," the suit stated. "Soreide could not have obtained the email addresses of these customers by any legitimate means." Rockwell describes Fort Lauderdale, Fla.-based Soreide as a "neophyte lawyer with little experience in securities litigation," who has launched 11 FINRA actions against the brokerage in eight different states in falsely accusing Rockwell of fraud and other sales practice abuses. Representatives for Soreide and Rockwell were not immediately available for comment Monday.
This report was posted on Ripoff Report on 10/27/2012 01:16 PM and is a permanent record located here: http://www.ripoffreport.com/r/Lars-Soreide-Law-Firm/Fort-Lauderdale-Florida-33301/Lars-Soreide-Law-Firm-Unethical-Fort-Lauderdale-Florida-960922. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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