Green, Schafle & Gibbs is pleased to announce the favorable resolution of a case involving two aging Pennsylvanians whose broker allegedly engaged in unsuitable investments and excessive risk in their retirement savings' accounts.
These unsophisticated, moderate senior investors allegedly lost in excess of $160,000.00 as a result of risky, inappropriate, and unsuitable investments recommended by their financial advisor who, despite a long history of customer disputes, was left wholly unsupervised by his broker-dealer.
Overconcentration in Risky Energy Equities
In spite of their moderate risk-tolerance, their account strayed very from the “Balanced/Conservative Growth” portfolio they was designed to be. Indeed, they had become heavily overconcentrated in equities; in particular in energy equities.
Pennsylvania & New Jersey Securities Law Firm
If you or anyone you know has been the victim of broker misconduct or investment fraud, please contact our experienced securities litigation attorneys immediately for a free consultation at 1-855-462-3330 or by using our online contact form.