Concerned about your investment in FLGE?
Are you concerned about your investment in FI Large Cap Growth Enhanced ETN (FLGE)? If so, the securities attorneys at The White Law Group may be able to help you recover your losses by filing a FINRA arbitration claim against the brokerage firm that sold you the investment.
According to the prospectus, the ETNs, issued by Credit Suisse, “are riskier than ordinary unsecured debt securities and have no principal protection. An investment in the ETNs involves significant risks, including possible loss of principal, and may not be suitable for all investors.”
According to reports this week, close to $1.4 billion was withdrawn from the ETN. The fund reportedly uses leverage to deliver twice the return of the Russell 1000 Growth Total Return Index.
The COVID-19 global pandemic has caused securities markets to tank. Various banks are calling mandatory redemptions of certain ETNs and have frozen the trading of others, causing investors huge losses. FLGE is down close to 1.4% for 2020, while its benchmark has gained 4.2%.
The White Law Group continues to investigate the liability that brokerage firms may have for recommending complex and risky ETNs like FLGE to investors.
ETNs are complex, high risk senior, unsecured, unsubordinated debt securities that are designed to track the total return of a specific market index. Due to their risk and complexity, ETNs are not appropriate for conservative investors or seniors seeking to preserve their capital.
Financial professionals and brokerage firms have a duty to recommend only investments that are appropriate for the client based on the client’s age, investment experience, net worth, and investment objectives.
If you have suffered losses investing in FI Large Cap Growth Enhanced ETN (FLGE), you may be able to recover your losses through FINRA arbitration. For a free consultation with a securities attorney, please call the White Law Group at 888-637-5510.
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm with offices in Chicago, Illinois and Franklin, Tennessee.
For more information on The White Law Group, visit https://www.whitesecuritieslaw.com.