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Alternative Market Briefing

Securities arbitration law firm opens probe against hedge fund Platinum Partners
Wednesday, August 24, 2016

Komfie Manalo, Opalesque Asia:

Investors who purchased Platinum Partners’ troubled hedge funds through financial advisors and brokerage firms were sent notices of investigation by securities arbitration law firm of Klayman & Toskes, P.A (K&T). The law firm has opened an investigation into potential Financial Industry Regulatory Authority (FINRA) sales practice violations by financial advisors and brokerage firms related to the Platinum Partners Value Arbitrage Fund and the Partners Credit Opportunities Fund.

K&T said that the investigation follows a recent letter sent to Platinum Partners investors that the hedge funds would be liquidated and several reports that the Securities and Exchange Commission (SEC) has begun an investigation of Platinum Partners for bribery and fraud.

According to K&T founder, Lawrence L. Klayman, "Our investigation focuses on whether investors were advised by their financial advisors to invest in Platinum Partners LP hedge funds, as a part of 'selling away’ transactions. Selling away transactions are broker-advised investments that are not approved by their brokerage firms." Klayman explains, "Brokerage firms who fail to s......................

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