COLUMBIA, SC, USA, December 8, 2023 /EINPresswire.com/ — National investment loss attorneys KlaymanToskes encourages customers of Voya Financial Advisors who have suffered investment losses to contact the firm immediately at 888-997-9956.
KlaymanToskes reports the firm has filed a FINRA arbitration claim (no. 23-03270) against Voya Financial Advisors on behalf of a retired investor who is seeking to recover damages of $100,000, in connection with being recommended to invest in FS Energy and Power Fund (“FSEN”), a high risk, speculative, Alternative Investment.
According to the claim, Voya Financial Advisors and its registered representative, Joshua Bradley (CRD# 5174430) misrepresented the risks associated with FS Energy and Power Fund, a non-traded business development company, and failed to fully disclose the investment characteristics to the customer.
Further, the firm and Bradley misrepresented the amount of time that FSEN would remain illiquid and when the customer could access his principal. Voya and Bradley represented to the customer that the fund would be locked-up for five years, and would then be publicly traded. Instead, the fund remains illiquid to this day.
While the investment strategy was unsuitable for the customer’s investment objectives, Voya Financial Advisors, through Bradley, continued to assure the customer that his investment was fine over the years and that the fund would become liquid.
Franklin Square Energy & Power Fund has faced a number of challenges, including the suspension of its share repurchase program, redemption difficulties for investors, and continued instability of its share price. Currently, FSEN is trading at $1.82 per share, representing an 81% decrease from its initial offering price of $10 per share.
If you suffered investment losses in Franklin Square Energy & Power Fund at Voya Financial Advisors and/or any other full-service brokerage firm, contact attorney Lawrence L. Klayman at (888) 997-9956 or lawrence@klaymantoskes.com for a free and confidential consultation to discuss recovery options.
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.
Contact
Lawrence L. Klayman, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
lawrence@klaymantoskes.com