If any investor observes activity by their brokerage firm that appears voluminous or excessive, he or she should seek experienced or professional review, Zamansky believes.
New York, NY (PRWEB) February 28, 2013
Zamansky & Associates LLC announces that has it filed a FINRA arbitration on behalf of a 71 year-old retired physician who was a securities customer against brokerage firm Axiom Capital Management Inc., located in New York, New York. This case is FINRA Case No.13-00484, Scherock vs. Axiom Capital Management, Inc. The Statement of Claim, which seeks damages of $350,000 for the investor, alleges that Axiom Capital engaged in excessive and unsuitable trading including speculative short-selling. The Statement of Claim also alleges that the trading violated the customer’s primary investment objective of “preservation of capital,” and was unauthorized activity for a trust account.
“Trading levels that exceed certain annualized turnover ratios recognized by the S.E.C. are, on their face, excessive,” states Jacob Zamansky. “Large concentrated short positions in securities are also unsuitable and inappropriate for a retiree with preservation of capital as an objective.”
If any investor observes activity by their brokerage firm that appears voluminous or excessive, he or she should seek experienced or professional review, Zamansky believes. In today’s stock markets, financial advisors are under enormous pressure to generate production and sometimes will do so by whatever means necessary, Zamansky states.
What Investors Can Do
If you would like to have your brokerage accounts reviewed or discuss your legal rights, you may, without obligation or cost to you, email jake (at) zamansky (dot) com or call the law firm at (212) 742-1414.
About Zamansky & Associates, LLC
Zamansky & Associates LLC is one of the leading law firms specializing in securities fraud and financial services arbitration and class action litigation. We represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.
To learn more about our law firm, please visit our website, http://www.zamansky.com.
Zamansky & Associates, LLC
50 Broadway - 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414
jake (at) zamansky (dot) com