Broker betrays trust and decimates portfolio

The Green Firm recently filed a Statement of Claim for compensatory damages in excess of $50,000 on behalf of our client against LPL Financial and Summit Brokerage Services, the supervising brokerages of a broker who allegedly betrayed our client's personal trust and lost him and his family a lot of money. Contrary to our client's express investment objectives and risk tolerance, the broker allegedly recommended and implemented an investment strategy that was overly aggressive, excessive in risk, and wholly unsuitable. This strategy included the allegedly negligent mishandling of non-traditional ETFs, which are a complex financial product designed to be used for one day only but which in this case were held for months at a time, resulting in massive losses. For the sake of other investors out there who have suffered as a result of misuse of the same or similar products, here they are by name: Direxion Shares ETF Trust Daily Energy Bear 3X Shares (symbol ERY); Direxion Shares ETF Trust Daily Financial Bear 3X Shares (symbol FAZ); Direxion Shares ETF Trust Daily Large Cap Bear 3X Shares (symbol BGZ).