The Securities Arbitration Firm Of Menzer & Hill, P.A. Announces Investigation Into The Sales Practices Of Broker-Dealers That Solicited Purchases Of Inverse And Leveraged Exchange-Traded Funds (ETFs)
The Securities Arbitration Firm of Menzer & Hill, P.A. ( www.suemyadvisor.com) 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.
Investors 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 & Hill, P.A. to determine if they have a claim for a recovery of losses.
Leveraged 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:
|DRV down 63% (NYSEArca: DRV);|
|TMV down 46% (NYSEArca: TMV);|
|VXX down 44% (NYSEArca: VXX);|
|SRS down 43% (NYSEArca: SRS);|
|ZSL down 42% (NYSEArca: ZSL);|
|GAZ down 38% (NYSEArca: GAZ);|
|TZA down 36% (NYSEArca: TZA);|
|UNG down 35% (NYSEArca: UNG);|
|TBT down 34% (NYSEArca: TBT);|
|FAZ down 29% (NYSEArca: FAZ); and|
|UCO down 28% (NYSEArca: UCO).|
For a free case evaluation or to discuss any other investment losses,
please contact the Securities Arbitration Firm of Menzer & Hill, P.A.,
at 888-923-9223, or visit us on the web at
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV