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NEW YORK, Oct. 20, 2022 (GLOBE NEWSWIRE) — Investors who sustained losses from holding concentrated or margined positions in SKLZ and other mobile gaming stocks can hold their brokerage firms liable in FINRA arbitration claims.
National investment fraud lawyers KlaymanToskes (“KT”) is investigating full-service brokerage firms’ failure to employ risk management strategies for current and former SKLZ (NYSE: SKLZ) employees and investors. The significant decline over the past year has put unhedged concentrated positions at risk, exposing any failures to employ such strategies.
Yesterday, SKLZ, a SPAC, closed at $0.88 and continues to fall. This represents a 98% decline from its all-time high of $43.72 in February 2021. As a result, SKLZ shareholders who held a concentrated position and used it as collateral for margin loans likely received a margin call and a substantial portion of their stock was liquidated.
According to securities attorney Lawrence L. Klayman, Esq., “Investors who hold large positions and are not diversified must employ risk management strategies. Financial advisors have a duty to their clients to recommend strategies to manage the risk with concentrated stock positions. A failure by an advisor is the basis for a FINRA arbitration claim.”
KlaymanToskes encourages investors with concentrated and/or margined positions to contact securities attorney Lawrence L. Klayman, Esq. at 1-888-997-9956, and download our Special Investor Report.
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 $250 million for investors 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.
Destination: https://klaymantoskes.com/contact/
Contact
KlaymanToskes
Lawrence L. Klayman, Esq.
1-888-997-9956
lklayman@klaymantoskes.com
www.klaymantoskes.com