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Articles Tagged with Unsuitable Exchange-traded Funds

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Investment fraud lawyers are currently investigating claims on behalf of investors who suffered significant losses as a result of doing business with William Wayne LaRue, a former Stephens Inc. stockbroker. The claims are regarding unauthorized and/or unsuitable trades in inverse and leveraged exchange-traded funds, or ETFs, as well as other products.

LaRue Customer Loss Recovery for Unsuitable Exchange-traded Fund Transactions Possible

Reportedly, in early 2012, one of LaRue’s clients made a complaint that LaRue had executed a series of unauthorized trades on her account prior to his departure. As a result of the complaint, the Arkansas Securities Department reportedly discovered similar problems in other customer accounts, as well as other violations.

“The unauthorized trading was occurring in margin accounts,” says Scott Freydl of the ASD. “In looking at this, we saw there were leveraged and inverse exchange traded funds. That’s when the issue of suitability came up.”

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