NOTICE TO TD AMERITRADE CUSTOMERS WITH ADVISORDIRECT ACCOUNTS MANAGED BY SHEAFF BROCK INVESTMENT ADVISORS: The Securities Arb...
February 02 2018 - 12:23PM
Business Wire
The Securities Arbitration Law Firm of Klayman & Toskes,
P.A., www.nasd-law.com, announces that it has commenced an
investigation into the put option strategy implemented by Sheaff
Brock Investment Advisors, LLC (“Sheaff Brock”) in TD Ameritrade
(NASDAQ:AMTD) customer accounts. The investigation comes on the
heels of a Federal Class Action Claim (1:18-cv-419) filed in the
United States District Court for the Northern District of Illinois
on January 19, 2018.
The Federal Class Action Claim Against TD Ameritrade and
Sheaff Brock
The federal claim alleges that Sheaff Brock implemented the put
option strategy in an aggressive, high-risk manner, after assuring
its clients that the investments were conservative and safe.
Furthermore, it is alleged that the marketing materials contained
information which did not comply with FINRA regulations. Both
Sheaff Brock and TD Ameritrade played a roll in the marketing of
the strategy and in obtaining the clients for the program.
The Relationship Between TD Ameritrade and Sheaff Brock -
AdvisorDirect
TD Ameritrade offers a program to customers who have more than
$500,000 in investable capital. The program is called
AdvisorDirect. AdvisorDirect gives investors the option of having
their portfolio managed by registered investment advisors. TD
Ameritrade used this program to refer clients to Sheaff Brock. TD
Ameritrade provided marketing materials about Sheaff Brock to their
customers, which included information about trading strategies. TD
Ameritrade and Sheaff Brock both benefited from this
relationship.
Investors Rights for Losses Suffered
TD Ameritrade customers who, through AdvisorDirect, were
referred to Sheaff Brock, took part in the put option strategy, and
have lost more than $100,000 should consider whether they should
file individual securities arbitration claims instead of
participating in the class action suit. K&T reminds investors
of the benefits of filing an individual securities arbitration
claims, as opposed to participating in a class action lawsuit. By
participating in a class action lawsuit, an investor may only
recover a nominal amount. However, if one has experienced
significant losses, it may be more beneficial for them to file an
individual securities arbitration claim. In 2003, K&T conducted
a detailed study of securities arbitration versus class action. The
study concluded that investors who file securities arbitration
claims traditionally obtain an overall higher rate of recovery as
opposed to participating in a class action lawsuit. To view the
full results of the comparison, Click Here.
The sole purpose of this release is to investigate the sales
practices and alleged financial misconduct of Sheaff Brock and TD
Ameritrade in the marketing and sales of put options. Investors who
purchased these investments are encouraged to contact Lawrence
L. Klayman, Esq. of Klayman & Toskes, P.A.
at (888) 997-9956, or visit our website
at www.nasd-law.com.
About Klayman & Toskes, P.A.
K&T is a leading national securities law firm which
practices exclusively in the field of securities arbitration and
litigation, on behalf of retail and institutional investors
throughout the world in large and complex securities matters. The
firm represents high net-worth, ultra-high-net-worth, and
institutional investors, such as non-profit organizations, unions,
public and multi-employer pension funds. K&T has office
locations in California, Florida, New York and Puerto Rico.
Destination:
http://nasd-law.com/notice-to-td-ameritrade-customers-with-advisordirect-accounts-managed-by-sheaff-brock-investment-advisors-the-securities-arbitration-law-firm-of-klayman-toskes-p-a-commences-investigation-into-t/
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version on businesswire.com: http://www.businesswire.com/news/home/20180202005520/en/
Klayman & Toskes, PALawrence L. Klayman, Esq.,
888-997-9956lklayman@nasd-law.comwww.nasd-law.com
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