Investors are filing complaints against financial advisors and broker-dealers who sold CION investment products.
PALM BEACH, FL, USA, October 6, 2021 /EINPresswire.com/ — Today, the Investment Law Firm of Haselkorn & Thibaut, P.A. announced that it will pursue arbitration claims against broker-dealers who sold CION Investment Corporation (NYSE: CION), which is a business development company (BDC), that provides senior secured loans to U.S. mid-market companies.
CION shares were first listed on the New York Stock Exchange on October 5, 2021. The company announced a 2-to-1 reverse stock split. On a split-adjusted basis, investors who purchased CION as a non-traded BDC are now (in some cases) facing a near 40% loss on the principal on their original investment. This does not include any reinvested distributions.
We are here to help investors. To receive a free case evaluation and to discuss any other investment losses, please call 1-800-856-3352 or visit us online InvestmentFraudLawyers.com.
In some cases, unsuspecting investors, including retirees were not aware that CION and other non-traded investments, such as non-traded REITs and non-traded BDCs, can be very risky alternative investments. These alternative products are often marketed by brokerage firms as being similar to traditional stock, bond, or mutual fund investments and they are not, they are very different. What’s more, some of the sales efforts may also include representations suggesting that these non-traded alternative investments are as safe or even safer than investing in traditional securities. Such representations are often inaccurate and sometimes outright false.
Investors who have suffered losses from CION investments or other non-traded investments can sometimes recover their losses by going through the FINRA arbitration process. Broker-Dealers and FINRA member firms are required to ensure that these types of high-risk investments are suitable and appropriate for their clients according to FINRA regulations. Brokers and broker-dealers can be held responsible for making inappropriate recommendations to clients.
Investors who suffered investment losses due to CION Investment Corporation, or any other non-traded products, or any other unsuitable investments should contact attorneys at the Investor Law Firm, Haselkorn & Thibaut, P.A.. for help in determining if they are entitled to a claim for recovery of their losses.
The sole purpose of this release is to investigate the manner in which CION investments were approved for sale by broker-dealers to investor clients, including new product reviews, due diligence, as well as the sales practice and supervision related to these purported conservative investment strategies that included these and similar alternative investment products. If you have any knowledge or experience with these matters, please contact Haselkorn & Thibaut, P.A. at 1-800-856-3352
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