Recover your Investment Losses – LJM Preservation and Growth Fund – LJMIX
The White Law Group is investigating potential claims involving broker dealers who may have unsuitably recommended LJM Preservation and Growth Fund (LJMIX) to investors.
According to a complaint seeking class-action status filed in U.S. District Court in Chicago, investor Leonard Sokolow said he owned shares of LJM Preservation and Growth Fund, a once-$800 million US mutual fund that lost most of its value last week.
The fund apparently relied heavily on a strategy that profits from calm markets but despite its claims “to deliver solid returns while maintaining risk parameters” in its most recent annual report to shareholders the fund lost four-fifths of its value this week.
LJM closed the fund to new investment this week, according to a filing with the U.S. Securities and Exchange Commission. According to various reports, despite the high fees which were as much as 3.34 percent per year, the LJM Preservation and Growth Fund took in $393 million in new cash from investors in 2017, its highest sales since opening in 2013.
Free Consultation with a Securities Attorney
Broker dealers are required to perform adequate due diligence on all investment recommendations they make. They must ensure that each investment is suitable for the investor in light of the investor’s age, risk tolerance, net worth, financial needs, and investment experience.
If a broker or brokerage firm makes an unsuitable investment recommendation or fails to adequately disclose the risks associated with an investment they may be liable for investment losses through FINRA arbitration.
If you have suffered investment losses in LJM Preservation and Growth Fund, the securities attorneys at The White Law Group may be able to help you. Please contact The White Law Group at 1-888-637-5510 for a free consultation.
The White Law Group is a national securities fraud, securities arbitration, and investor protection law firm with offices in Chicago, Illinois and Vero Beach, Florida. For more information on the firm, visit www.WhiteSecuritiesLaw.com.