(FINRA Case #2014039420301)
Trustfirst Inc. (CRD #39057, Knoxville, Tennessee) – An AWC (Accept, Waiver & Consent) was issued in which the firm was censured and fined $15,000.
Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it distributed offering documents in connection with the sale of three unregistered offerings that contained typographical errors and were internally contradictory regarding the nature of the offerings’ contingency terms and possible extensions of the contingency termination date.
As a result, the offering documents created a risk that investors could be confused about certain terms of the offering, and thus did not provide a sound basis for evaluating the facts relevant to the securities being offered.
The findings also stated that the firm distributed a PowerPoint presentation (which was an exhibit to a private placement memorandum) that failed to separately disclose risks associated with one of these investment offerings or the basis for calculating the estimated yield, and included a comparison to other investments without discussing the material differences between those investments and the offering.
If you feel you have been misled by Trustfirst Inc. or any Broker and wish to discuss legal action, please contact Darren Blum at 1-877-786-2552 (1-877-STOCK LAW), www.stockattorneys.com for a free consultation.