Roshan A. Loungani Allegedly Recommended and Effected Purportedly Unsuitable Investments for Two Customers Involving the Purchase of Limited Partnership Interests in Two Hedge Funds that Loungani Created and Managed
Roshan A. Loungani allegedly recommended and effected unsuitable investments for two customers involving the purchase of limited partnership interests in two hedge funds that Loungani created and managed, according to a recent FINRA Letter of Acceptance, Waiver, and Consent (AWC) currently under review by attorneys Alan Rosca and James Booker.
Roshan A. Loungani, between June 2009 and March 2012, allegedly recommended and effected unsuitable investments for two customers totaling approximately $658,000 involving the purchase of limited partnership interests in the two aforementioned hedge funds, Loungani Capital Group, LP (LCG, LP) and Loungani Capital Group II, LP (LCG II, LP), the AWC further alleges.
The Peiffer Rosca Wolf securities lawyers are currently investigating Roshan A. Loungani’s alleged unsuitable recommendations.
Roshan A. Loungani Reportedly Suspended and Ordered Restitution by FINRA in the Amount of Nearly $70,000 for Unsuitable Recommendations in Loungani Capital Group, LP (LCG, LP) and Loungani Capital Group II, LP (LCG II, LP)
Roshan A. Loungani, based on the aforementioned behavior, allegedly violated NASD and FINRA Rules and hence, has been suspended by FINRA and ordered restitution in the amount of almost $70k, according to the aforementioned AWC being examined by attorneys Alan Rosca and James Booker.
The two hedge funds that Loungani created and managed, Loungani Capital Group, LP (LCG, LP) and Loungani Capital Group II, LP (LCG II, LP), purportedly employed a high-risk trading strategy and use of aggressive options trading and were not suitable for the customers based on their investment objectives and risk tolerances, the AWC further alleges.
One should also note that, according to the AWC, Roshan A. Loungani neither admitted nor denied the FINRA findings.
Securities Lawyers Investigating
The Peiffer Rosca Wolf securities lawyers often represent investors who lose money as a result of allegedly unsuitable investment recommendations and are currently investigating Roshan A. Loungani’s allegedly unsuitable investment recommendations. They take most cases of this type on a contingency fee basis and advance the case costs, and only get paid for their fees and costs out of money they recover for their clients.
Investors who believe they lost money as a result of Roshan A. Loungani’s alleged engagement in a private securities transaction are encouraged to contact the securities lawyers at Peiffer Rosca Wolf, Alan Rosca or James Booker, for a free no-obligation evaluation of their recovery options, at 888-998-0520.
from Investment Fraud Lawyers | Investor Loss Recovery http://ift.tt/29P5NTr
via Securitieslitigatos.com
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