New York, New York (PRWEB) August 28, 2013 -- Zamansky LLC announces that it is investigating NSB Advisors, LLC (“NSB Advisors”), a registered investment advisor firm located in Fishkill, New York. The investigation concerns allegations of unsuitable investments, over-concentration, excessive margin use and breach of fiduciary duty in NSB Advisors’ managed accounts.
On September 11, 2012, an investor filed a lawsuit against NSB Advisors alleging negligence, breach of fiduciary duty and fraud. The case is New York State Supreme Court Index No. 2012-653166. In the complaint, the plaintiff, which is an estate, alleges that NSRB Advisors concentrated their accounts over 60% into risky and speculative stocks including Apco Oil & Gas, PFMG Inc., Globecomm Systems and Vulcan Materials. The complaint also alleges that NSB Advisors represented that these positions would be hedged by an options strategy, which was a either false promise or totally ineffective.
Zamansky LLC is investigating NSB for alleged unsuitable handling of clients’ portfolios, and over-concentration. According to stock fraud attorney Jake Zamansky, “any over-concentration of an account into a single stock or handful of stocks in the same industry, sector or risk profile is not appropriate for a conservative or moderate investor.” This type of concentration is only appropriate for investors who seek to speculate or have high appetites for risk, Zamansky states.
What NSB Advisors’ Investors Can Do
If you are an NSB Advisors’ investor who wished to have their accounts reviewed or to 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 LLC
Zamansky LLC is a leading investment fraud law firm specializing in securities arbitration and securities class actions. Our stock fraud attorneys represent both individual and institutional investors. Our stockbroker fraud practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.
To learn more about Zamansky LLC, please visit our website, http://www.zamansky.com/.
Jacob Zamansky, Zamansky & Associates LLC, 212 742-1414, [email protected]
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