The Securities Arbitration Law Firm of Klayman & Toskes

New Post Public Reply Private Reply Replies (0) Message Board
News Desk 2018
The Securities Arbitration Law Firm of Klayman & Toskes Files $175,000 Arbitration Claim Against NFP Securities To Recover Losses Sustained in Alternative Investments Including Hennessey Fund a/k/a Capital Solutions Monthly Income Fund

NEW YORK, June 2, 2014 (GLOBE NEWSWIRE) -- The Securities Arbitration Law Firm of Klayman & Toskes, P.A. ("K&T"), www.nasd-law.com , announced today that it filed a claim against NFP Securities ("NFP") on behalf of two retirees to recover losses sustained in alternative investments, including Hennessey Fund a/k/a Capital Solutions Monthly Income Fund ("Hennessy Fund") and Icon Fund 12. The claim was filed with the Financial Industry Regulatory Authority ("FINRA"), and seeks damages of $175,000.

According to the Claim, this case is about the unsuitable investment recommendations and misrepresentations made by NFP and its financial advisor to the Claimants. While Claimants held accounts with NFP, the firm's advisor solicited the Claimants to invest in alternative investments that were illiquid and carried high commissions. In response to the Claimants' stated objectives, the NFP advisor recommended the Hennessy Fund a/k/a Capital Solutions Fund and Icon Fund 12. In making the recommendations, the NFP advisor stated that these were moderate risk investments that would generate steady dividends with little to no fluctuation. Unfortunately, contrary to the advisor's representations, these products were actually high risk, illiquid investments which exposed the Claimants' retirement nest egg to significant risk. Moreover, the money invested in these illiquid investments represented about 45% of the Claimants' liquid net worth which was unsuitable. As a result of the conduct of NFP and its advisor, Claimants sustained substantial investment losses.

The sole purpose of this release is to investigate, on behalf of our clients, the sales practices of NFP in connection with the sale of alternative investments to their customers. Current and former customers of NFP who purchased alternative investments, and have information relating to the manner in which the firm represented these products, are encouraged to contact Steven D. Toskes or Jahan K. Manasseh of Klayman & Toskes, at (888) 997-9956, or visit us on the web at www.nasd-law.com .
 

(888) 997-9956 www.nasd-law.com

Scroll down for more posts ▼

Top 10 Most Recent News Articles

AST SpaceMobile Faces Class Action Over Misstatements

Updated Category News Views 3

What's Going On with AST SpaceMobile? Kicking off with a heavy hitter here, folks. AST SpaceMobile, Inc., trading under NASDAQ:ASTS, is under a securities fraud spotlight. We're talking allegations piled higher than a morning stack of pancakes. If you picked up any ASTS shares between March 4, 2025, and July 15, 2026, you're in on this rough ride. There's a class action...

Continue Reading
CVS Health Under Fire: Fiduciary Duty Breach?

Updated Category News Views 2

CVS Under Regulatory Spotlight for Fiduciary Breaches You'd think by now companies would have their fiduciary ducks in a row. But here we are, with CVS Health Corporation (NYSE: CVS) catching heat from the legal eagles over at Halper Sadeh LLC. The knife’s out for some of the big wigs – apparently, there's chatter they might’ve slipped on their duty to play nice...

Continue Reading
Krispy Kreme Faces Legal Probe: Fiduciary Breach?

Updated Category News Views 3

Diving Deep into the Krispy Kreme Allegations Look, this isn't your run-of-the-mill donut drama. When you hear rumblings of corporate missteps, especially ones that involve potential breaches of fiduciary duties, it's time to perk up those ears. Over at Krispy Kreme, Inc. (NASDAQ:DNUT), there's some heat in the kitchen, and it's not just from frying those glazed beauties....

Continue Reading
Quay Sunglasses: Luxury Looks, Affordable Prices

Updated Category News Views 3

Ah, sunglasses—the quintessential accessory that screams both practicality and style. A million-dollar look without the million-dollar expense? That's where Quay comes in. They've been recognized by Expert Consumers, no less, as some of the best-in-class for affordable luxury eye candy out there—aimed at shoppers who want the designer vibe without the hemorrhaging...

Continue Reading
Jackson Wang's Fantasy IP Hits Hong Kong Stage

Updated Category News Views 5

A Star-Studded Fantasy Comes Alive Hong Kong isn't just about dim sum and skyline views—it's a magnet for celebrity showcases, and this time, Jackson Wang's pulling the strings. The guy's ventured beyond music and idol fame, diving head-first into creative visuals with his fantasy IP, "Under the Castle" (UTC). Pairing up with Ocean Park's Halloween Fest, he's cooked up...

Continue Reading
AI and Storytelling Make Waves in Science Education

Updated Category News Views 5

University's Innovative Approach to Learning Alright, here's something you don't see every day. The University of Phoenix managed to snag some kudos from an academic journal for using AI and storytelling to teach environmental science. That's like hitting two bulls-eyes with one shot in the world of education. The recognition from Glacies for this Editor's Choice paper...

Continue Reading
Endurance Energy's Modular Tech Revs Up Southeast Asia

Updated Category News Views 3

Modular Solutions Steal the Show in Bangkok When a company draws 59,468 attendees from over 150 countries, folks pay attention—and that was exactly the scene at Gastech 2026 in Bangkok. The name buzzing on many lips? Endurance Energy. These guys showcased a fresh take on energy logistics with their skid-mounted liquefaction tech, turning heads with their Southeast Asia...

Continue Reading
Cut Winter Heating Costs with Townsend's Rebate Help

Updated Category News Views 5

Unseen Perils of Winter Heating in Massachusetts Massachusetts homeowners, listen up. If your heating system is older than the Model T, it's time to rethink your winter strategy. You don't want to be stuck in the cold when the thermometer hits single digits, do you? That's where Townsend comes in, making waves with their rebate assistance program. Navigating the Rebate...

Continue Reading
Timur Turlov Leads FIDE with Chess and Digital Focus

Updated Category News Views 5

An Unpredicted Victory in Samarkand Well, color me surprised. Timur Turlov's made waves by clinching the role of FIDE President at the General Assembly in Samarkand. This one's quite the turn for the chess world—Kazakhstan’s own stepping up to run the whole show. This isn't just some ceremonial post either. Turlov, who's been pulling strings over at the Kazakhstan...

Continue Reading
PACS Group Faces Legal Scrutiny: What to Watch

Updated Category News Views 4

PACS Group: Legal Storm Brewing Welcome to the latest saga in the volatile theater of corporate governance. PACS Group, Inc., ticker symbol NYSE:PACS, is under the microscope, and not for debuting a groundbreaking product or hitting a stock milestone. Nope, instead we've got Halper Sadeh LLC out of New York investigating some possible hanky-panky from PACS directors and...

Continue Reading

Top 5 Most Recently Viewed Articles

Class Action Lawsuit Filed Against KMB Concepts for Labor Violations

Updated Category News Views 194

Class Action Allegations Against KMB Concepts, LLC A recent class action lawsuit has been filed against KMB Concepts, LLC, claiming the company has violated the California Labor Code. This legal action specifically alleges that KMB Concepts failed to adequately compensate its employees for all hours worked. Details of the Class Action Lawsuit The attorneys at Zakay Law...

Continue Reading
Jet.AI Set to Showcase Innovations at NBAA Business Aviation Event

Updated Category News Views 162

Jet.AI to Participate in Major Aviation Convention Jet.AI Inc. (NASDAQ: JTAI), a pioneer in the realm of private aviation and artificial intelligence, is excited to announce its participation in a key industry event: the upcoming NBAA Business Aviation Convention & Exhibition. This prestigious convention will take place on October 22-24, bringing together aviation...

Continue Reading
Compagnie de l'Odet Announces New Share Buyback Program Details

Updated Category News Views 226

Compagnie de l'Odet's Share Buyback Program Overview COMPAGNIE DE L'ODET Recently, Compagnie de l'Odet has taken significant steps toward enhancing its shareholder value through a new share buyback program. This initiative was recently authorized by shareholders during a Combined General Meeting, bringing new opportunities for existing investors. Details of the Share...

Continue Reading
DATAMARK Technologies Honors D.C. Office's Exceptional Service

Updated Category News Views 135

DATAMARK Technologies Proudly Recognizes 9-1-1 Center of the Year DATAMARK Technologies, a prominent leader in providing interoperable location services for Next Generation 9-1-1, recently announced a significant honor bestowed upon the Washington D.C. Office of Unified Communications. This office has earned the prestigious title of 9-1-1 Center of the Year, a recognition...

Continue Reading
Marine Air Conditioning Systems Projected Growth Until 2029

Updated Category News Views 108

Future Growth of Marine Air Conditioning Systems The marine air conditioning (AC) systems market is projected to experience significant growth in the upcoming years. With an estimated increase of USD 3.99 billion anticipated between 2024 and 2029, driven by demand for comfort in maritime vessels, this segment is poised for substantial evolution. The compound annual growth...

Continue Reading