We filed a FINRA arbitration on behalf of a 51 year-old New York investor who is a former customer of Wayne Geffen of Concept Capital Markets LLC. The Statement of Claim alleges that Geffen invest him in excessively risky and unsuitable portfolio of oil, gas and energy stocks including a large position of Energy XXI. Geffen also invested this customer’s money through his own hedge fund, First Serve Capital, which was invested similarly. In total, the investor claims to have suffered losses of $800,000 from the unsuitable investments.
Our law firm specializes in recovering investor losses through FINRA arbitration for losses in unsuitable oil, gas and energy stocks, as well as hedge fund losses. Any investor who has suffered a loss in an oil, gas, energy or MLP stock should contact us to have their situation reviewed for potential unsuitability and excess risk, as we may be able to help recover losses suffered in these stocks.