Zamansky LLC announces that it is investigating the late S. Mark Powell of Invesco Ltd.’s Atlantic Trust Unit. The investigation concerns over his activities and dealings with customers.
On May 28, 2013, the Wall Street Journal reported in “Manager’s Death Shakes Texas Investors,” that after Mr. Powell died two weeks ago on May 16th, many investors have come forward claiming that they lent him millions of dollars. According to this article, Mr. Powell had sold his Atlantic Trust division which manages $22 billion of customer assets to Invesco Ltd., and the deal was supposed to close later this year.
According to Jake Zamansky, “the Financial Industry Regulatory Authority has regulations which limit private transactions, and investment firms generally place strict restrictions on personal dealings between financial advisors and customers.” “This is an area which always has the potential for exploitation and misunderstanding that can lead to disputes and problems between a financial advisor and customer,” Zamansky states. “Any investor involved in a personal loan with a financial advisor should have the transaction reviewed
by an outside attorney or professional,” Zamansky believes.
What Investors Can Do
If you invested with Mr. Powell or have a personal transaction or loan with a financial advisor, and wish to have your transaction reviewed or discuss your rights, you may email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is one of the leading law firms specializing in securities fraud and class action litigation. Our attorneys represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.
50 Broadway – 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414