Zamansky LLC Investigates Alleged Unsuitable ETFs Sales By Financial Advisors
Zamansky LLC announces that it is investing alleged unsuitable sales of ETFs, or exchange-traded funds, by financial advisors. Any investor who did not want a high risk level and who lost money in one of these funds should contact our firm to have the investment reviewed for suitability.
Zamansky LLC announces that it is investing alleged unsuitable sales of ETFs, or exchange-traded funds, by financial advisors. On July 30, 2013, Reuters reported that Morgan Stanley was fined $100,000 by New Jersey State securities regulators for selling unsuitable leveraged ETFs and inverse ETFs to elderly customers who needed income. A copy of the Consent Order can be found at http://nj.gov/oag/newsreleases13/pr20130730a.html.
According to stock fraud attorney Jake Zamansky, leveraged and inverse ETFs are very risky investments that are often described as speculative in their prospectuses. As a result, they are not suitable or appropriate for conservative or even moderate investors, he says. Any investor who did not want a high risk level and who lost money in one of these funds should have the investment reviewed for suitability, Zamansky believes.
What ETF Investors Can Do
If you are an ETF investor with a loss, and you would like your account reviewed or discuss your legal rights, you may, without obligation or cost to you, email email@example.com or call the law firm at (212) 742-1414.
About Zamansky LLC
Zamansky LLC is a leading stock law firm specializing in securities class actions, securities arbitration, and litigation over stock broker fraud. We are securities fraud attorneys who represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover investment losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com.
50 Broadway – 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414