ACCESS Newswire
24 Jan 2023, 02:35 GMT+10
NEW YORK, NY / ACCESSWIRE / January 23, 2023 / National investment fraud lawyers KlaymanToskes ('KT') launches an investigation into full-service brokerage firms and financial advisors that recommended concentrated or margined positions in American Virtual Cloud Technologies (NASDAQ:AVCT) resulting in losses of over $100,000. Considering AVCT's recent Chapter 11 bankruptcy filing, investors that purchased AVCT at the advice of a financial advisor should contact our firm immediately at 888-997-9956 to discuss recovery options.
AVC Technologies entered the market as a 'Blank Check' company or Special Purchase Acquisition Company (SPAC) formerly known as Pensare Acquisition Corp. On February 27, 2020, the stock price reached an all-time high of $168.75. Friday, AVCT closed at $0.62 which represents a 99% decline from its high. This left shareholders who had large, concentrated positions of AVCT, or those who used their shares as collateral for margin loans, to suffer substantial losses.
Many full-service brokerage firms offer strategies to manage risks associated with concentrated stock positions, such as the following:
According to securities attorney Lawrence L. Klayman, Esq., 'Brokerage firms and their advisors have a duty to recommend risk management strategies to customers with concentrated stock positions. Employing risk management strategies can be the difference between having a conservative portfolio and millions of dollars in investment losses. Firms that fail to educate their clients on the risks of concentrated portfolios can be held liable in a FINRA arbitration claim.'
KlaymanToskes encourages investors with concentrated and/or margined positions at full-service brokerage firms to contact securities attorney Lawrence L. Klayman, Esq. at 1-888-997-9956 or [email protected].
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Destination: https://klaymantoskes.com/contact/
Contact
KlaymanToskes
Lawrence L. Klayman, Esq.
1-888-997-9956
[email protected]
www.klaymantoskes.com
SOURCE: KlaymanToskes, P.A.
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