strongThe Securities Arbitration Firm of Menzer amp; Hill, P.A. Announces Investigation Into The Sales Practices Of Broker-Dealers That Solicited Purchases of Inverse and Leveraged Exchange-Traded Funds (ETFs)
/strongThe Securities Arbitration Firm of Menzer amp; Hill, P.A. (a href=http://www.suemyadvisor.com/font face=Verdanawww.suemyadvisor.com/font/a) announced today that it is investigating the sales practices of brokerage firms that solicited investors to buy leveraged and inversed Exchanged-Traded Funds (“ETFs”). Many brokerage firms, through their financial advisors, are soliciting purchases in these securities as investments, with holding periods longer than one day, while others are recommending option strategies on the underlying ETFs. The Financial Industry Regulatory Authority (“FINRA”), stated in a Regulatory Notice, sent to brokerage firms June 2009, that leveraged and inverse ETFs are “highly complex financial instruments” and “are typically not suitable for retail investors who plan to hold them for more than one trading [day], particularly in volatile markets.” Brokerage firms that failed to adhere to suitability requirements could be held liable to investors that sustained losses in solicited purchases of leveraged and inverse ETFs as a result. pInvestors that have purchased leveraged or inverse ETFs through a brokerage account or managed account offered by Merrill Lynch, a subsidiary of Bank of America (NYSE:BAC), Morgan Stanley Smith Barney (NYSE:MS), Wells Fargo Advisors (NYSE:WFC), Ameriprise Financial (NYSE:AMP), UBS (NYSE:UBS), LPL Financial, Raymond James (NYSE:RJF), Edward Jones, or other brokerage firms and have sustained losses should contact the attorneys at the Securities Arbitration Firm of Menzer amp; Hill, P.A. to determine if they have a claim for a recovery of losses. /ppLeveraged and inverse ETFs can be volatile and investors may have realized or unrealized losses in the following ETFs year to date, including but not limited to: /ptable id=t6420933_1 class=bwtablebottommargin cellspacing=0tbodytrtd id=t6420933_1_0_46200 class=bwcellpaddingleft0 bwverticalaligntop bwtextalignleftDRV down 63% (NYSEArca: DRV); /td/trtrtd id=t6420933_1_1_46200 class=bwcellpaddingleft0 bwverticalaligntop bwtextalignleftTMV down 46% (NYSEArca: TMV); /td/trtrtd id=t6420933_1_2_46200 class=bwcellpaddingleft0 bwverticalaligntop bwtextalignleftVXX down 44% (NYSEArca: VXX); /td/trtrtd id=t6420933_1_3_46200 class=bwcellpaddingleft0 bwverticalaligntop bwtextalignleftSRS down 43% (NYSEArca: SRS); /td/trtrtd id=t6420933_1_4_46200 class=bwcellpaddingleft0 bwverticalaligntop bwtextalignleftZSL down 42% (NYSEArca: ZSL); /td/trtrtd id=t6420933_1_5_46200 class=bwcellpaddingleft0 bwverticalaligntop bwtextalignleftGAZ down 38% (NYSEArca: GAZ); /td/trtrtd id=t6420933_1_6_46200 class=bwcellpaddingleft0 bwverticalaligntop bwtextalignleftTZA down 36% (NYSEArca: TZA); /td/trtrtd id=t6420933_1_7_46200 class=bwcellpaddingleft0 bwverticalaligntop bwtextalignleftUNG down 35% (NYSEArca: UNG); /td/trtrtd id=t6420933_1_8_46200 class=bwcellpaddingleft0 bwverticalaligntop bwtextalignleftTBT down 34% (NYSEArca: TBT); /td/trtrtd id=t6420933_1_9_46200 class=bwcellpaddingleft0 bwverticalaligntop bwtextalignleftFAZ down 29% (NYSEArca: FAZ); and /td/trtrtd id=t6420933_1_10_46200 class=bwcellpaddingleft0 bwverticalaligntop bwtextalignleftUCO down 28% (NYSEArca: UCO). /td/tr/tbody/tablepFor a free case evaluation or to discuss any other investment losses, please contact the Securities Arbitration Firm of Menzer amp; Hill, P.A., at 888-923-9223, or visit us on the web at a href=http://cts.businesswire.com/ct/CT?id=smartlinkamp;url=http%3A%2F%2Fwww.suemyadvisor.comamp;esheet=6420934amp;lan=en-USamp;anchor=www.suemyadvisor.comamp;index=2amp;md5=42f88a77817321b3764807a671c4f30d target=_blankfont face=Verdanawww.suemyadvisor.com/font/a. /pdiv id=releaseBottomdiv id=contactsdiv id=contactsBody class=bddiv class=cpMenzer amp; Hill, P.A.
Gary Menzer, 888-923-9223
a href=http://cts.businesswire.com/ct/CT?id=smartlinkamp;url=http%3A%2F%2Fwww.suemyadvisor.comamp;esheet=6420934amp;lan=en-USamp;anchor=www.suemyadvisor.comamp;index=3amp;md5=74419b7bab2fc6896122e36968209bd0 target=_blankfont face=Verdanawww.suemyadvisor.com/font/a /p/div/div/div/div |
|
Legal News RSS Feed
