Ft. Lauderdale, Fl. – The law firm of Securities Fraud Attorney Mark A. Tepper has filed claim against National Securities Corporation, a subsidiary of National Holdings Corporation (NASDAQ: NHLD), on behalf of a retired widow. The claim seeks recovery of substantial losses suffered by the widow from the broker’s rare opportunities.
“Presenting them as rare opportunities, Respondent recommended three high-risk, high-fee, private placements a/k/a unregistered offerings which far exceeded [the widow’s] documented “moderate” risk tolerance,” the Claim alleges.
When she did not understand the recommendations, the broker “emailed links to websites for [the widow] that said how wonderful these opportunities were,” the Claim contends.
“Each unregistered offering had no or limited liquidity or exit strategy. These recommendations were unsuitable for [the widow], a retired investor with limited investment knowledge, whose financial situation and needs required income, safety of principal and low risk,” the Claim alleges.
The Mark A. Tepper law firm is continuing its investigation into alleged claims against brokerage firms for unsuitable recommendations. The firm recently announced FINRA Arbitration Awards in separate claims for damages. Each of the claims was upheld by a FINRA arbitrator in favor of clients who had Linn Energy or BreitBurn investments. “Investors who believe they’ve been the victims of stockbroker fraud should always investigate their legal rights to determine the merits of potential claims,” Mr. Tepper said.
For a free case evaluation from the Mark A. Tepper law firm, email attorney Mark Tepper at askmark@marktepper.com or call 954-961-0096.
About Mark A. Tepper, P.A. (www.MarkTepper.com)
Attorney Mark A. Tepper is the former Chief Trial Counsel at the New York Attorney General’s Bureau of Investor Protection and Securities. He has earned the reputation of “Investor Advocate” while practicing law for over 35 years representing individual investors. FINRA arbitrators have upheld stockbroker fraud claims filed by Mr. Tepper against many brokerage firms. A member of the Florida, New York and California Bars, Mr. Tepper is peer-reviewed for 17 consecutive years, AV PREEMINENT® for ethical standards and legal ability, the highest rating of lawyers in the Martindale-Hubbell Law Directory.
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