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UBS’ “yield enhancement strategy” was sold to investors as a safe, conservative investment strategy, so many “YES” investors were shocked to discover steep losses in their accounts in 2018 and 2019. The investors were reportedly unaware that they could sustain losses of such magnitude in the YES program because the strategy was not properly explained…
Stockbroker Lewis Stein of Boca Raton, Florida is involved in a legal dispute with a former customer relating to allegedly unsuitable investments. The former customer also alleges breach of fiduciary duty, misrepresentation and negligence. Suitability Stockbrokers have a duty to recommend suitable investments and investment strategies to their clients. A recommendation…
Stockbroker John Krohn of West Des Moines, Iowa, is involved in a legal dispute with former customers relating to investments in venture capital companies owned and controlled by Krohn. The customers are seeking to recover damages of $28,000,000 from Krohn and his former employer Principal Securities, Inc. Customers of Krohn…
Former stockbroker Justin Destefano of Williamsville, New York, is involved in legal disputes with at least two former customers relating to allegedly unsuitable aggressive / speculative investments. The allegations also include misrepresentations, unauthorized trading, over-concentration, fraud, and violations of federal securities laws. Four disputes involving similar allegations against Destefano were previously settled…