SEC Complaint Against Kerry Hoffman and Investments in GT Media

Have you lost money with financial advisor Kerry L. Hoffman, formerly of LPL Financial and Union Capital Company?  The law firm of Israels & Neuman is  investigating allegations made by the Securities and Exchange Commission (SEC) against Kerry Hoffman.  The SEC alleged that Hoffman sold unregistered investments in GT Media, Inc., a company that created and delivered media content relevant to mothers’ lifestyles on social media.

Hoffman was alleged to have sold over $3.3 million in investments along with his colleague, Thomas Conwell.  Conwell was previously barred from the securities industry, and it was alleged that he misappropriated some of the investor funds.  The SEC further alleged that Hoffman and Conwell made material misrepresentations about GT Media.

Kerry Hoffman was a financial advisor and registered representative of LPL Financial from February 2010 to September 2018.  He also worked with Union Capital Company from September 2018 to July 2019.  He worked at branch offices in Mundelein and Chicago, Illinois.  Hoffman was allowed to “voluntarily resign” from LPL after it was discovered he acted as a “consultant” to GT Media.

Brokerage firms like LPL Financial have a responsibility to adequately supervise all representatives who are registered through their firm.  Brokerage firms also must take steps to ensure that their financial advisors follow all securities rules and regulations, as well as internal firm policies.  When brokerage firms 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; Ann Arbor, Michigan; and Seattle, Washington.  We represent investors in FINRA arbitration in all 50 states, including over 150 investors in the past from throughout the Chicagoland area, Northern Illinois, and Central Illinois.

Attorney David Neuman was born in Berwyn, Illinois and grew up in the western suburbs in Addison.  He earned a degree in Finance at the University of Illinois in Urbana-Champaign before earning his law degree at Northern Illinois University in DeKalb.  Mr. Neuman also previously worked for a number of Chicago area law firms, including firms in St. Charles, Geneva, Chicago, and Barrington.  He currently sits on the Board of Directors for PIABA (The Public Investors Arbitration Bar Association) and advocates for the rights and protection of investors.

Click to view:  Hoffman, Kerry BrokerCheck

Click to view:  Hoffman, Kerry SEC Complaint

If you lost money with Kerry Hoffman, LPL Financial, or Union Capital Company, please CONTACT US at 720-599-3505 for a free evaluation of your case.