If you suffered losses investing in Exchange Traded Notes, or “ETNs,” using portfolio margin at Interactive Brokers, LLC, we have an important message for you.
Interactive Brokers, or sometimes just called IB for short, is one of the largest online brokerage firms in the United States. For the last ten years, IB has allowed its customers and its customers’ financial advisers to use a complicated trading strategy called Portfolio Margin. Portfolio Margin trading is permitted, but there are strict rules in place to protect investors from suffering crippling losses. We allege that IB does not follow those rules properly, and that IB specifically ignored guidance from the securities regulators. Many IB investors have suffered major losses in their Portfolio Margin accounts, especially in August 2015; in some cases, those investors have lost everything.
The investment fraud lawyers of Meyer Wilson and Kaplan Fox have teamed up with the law firm of Shepherd, Smith, Edwards and Kantas, LLP, which was the first to file cases on behalf of investors with IB involving this problem. Our legal team is at the forefront in holding IB accountable and helping investors recover their losses. Our team has filed a class action lawsuit in federal court in New York City against IB to decide the questions that are common to all similarly situated investors and to force IB to follow the rules.
We are also representing investors in individual FINRA arbitration cases in which we are helping those investors pursue the recovery of the money they lost as a result of what we believe to be improper Portfolio Margin trading. While past successes are not a guarantee of future results, members of our team already obtained a $2 million FINRA arbitration award against IB on behalf of one family, and we have many more cases in the pipeline.
If you or your financial advisor made ETN investments with IB using Portfolio Margin, and you lost money, we want to talk to you. Together, and at no charge to you for an initial consultation, we can help you figure out what your options are and explain how we can best help you protect your legal rights and work to get back what you have lost. Please contact us by submitting our online contact form, or feel free to just call us toll-free at (888) 390-6491. We look forward to hearing from you.
For additional Information, please call (888) 390-6491.
David P. Meyer, Esq.
Matthew R. Wilson, Esq.
Meyer Wilson, LPA
Fredric S. Fox, Esq.
Matthew B. George, Esq.
Kaplan Fox & Kilsheimer LLP
Samuel B. Edwards, Esq.
David W. Miller, Esq.
Shepherd, Smith, Edwards and Kantas, LLP