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NEW YORK, July 25, 2022 (GLOBE NEWSWIRE) — KlaymanToskes (“KT”) announces an investigation on behalf of CEE investors who sustained substantial losses from the purchase of The Central and Eastern Europe Fund (“CEE”) (NYSE: CEE), a closed-end fund (“CEF”). On October 27, 2021, CEE reached $31.46. Today, CEE closed at $10.14 which represents a 60% decline from its 52-week high. This product may have been marketed and sold to investors who were risk averse, such as retirees or other conservative investors, and were not explained the potential risks.
Under Rules established by the Financial Industry Regulatory Authority (“FINRA”), brokerage firms have an obligation to make only suitable recommendations and to fully disclose all risks associated with a recommended product. Moreover, brokerage firms have a duty to conduct a reasonable investigation of the issuer and the securities they recommend before approving them for sale to their customers. Investors may seek damages in FINRA arbitration if a financial advisor made a recommendation to purchase a security without fully explaining the risks or that was unsuitable for the investor’s risk profile.
CEE investors who sustained substantial losses can contact us to discuss our investigation and for a no obligation, free consultation. We can be reached at 888-997-9956.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered more than $230 million in FINRA arbitrations and over $350 million in other securities litigation matters for its clients. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
Contact:
KlaymanToskes
Lawrence L. Klayman, Esq.
(888) 997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com