Investors, brace yourselves for a potential shocker. A serious allegation has emerged that could send ripples through the financial industry. A customer dispute is currently pending, with the claimant alleging that he was misled by Citigroup Global Markets, Inc. (CGMI) and their financial advisor, Steven Work, in March 2021.
The Allegation in Layman’s Terms
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The claimant asserts that he sold shares of an equity short, assured by CGMI through Steven Work that the margin requirement would be 50%. However, a margin call was executed a few days after the trade at 100% of the claimant’s position. This resulted in losses exceeding $150,000. The claimant alleges that he was denied time to effect a cash cover to avoid the margin call, leading to this substantial loss.
The claimant’s allegations include misrepresentation of the margin requirement, which CGMI, through its financial advisor, denies. This is a serious matter, considering the significant loss incurred by the claimant. The claimant’s case number is 23-01724.
The Investigation by Haselkorn & Thibaut
Enter Haselkorn & Thibaut, a national investment fraud law firm, who are currently investigating the advisor and company. With offices in Florida, New York, North Carolina, Arizona, and Texas, they are well-positioned to handle such a case. Their credentials speak volumes:
- Over 50 years of experience in the field
- Successful financial recoveries for investors
- A whopping 98% success rate
They are offering a free consultation to clients who may have been affected by this case. You can reach them at 1-800-856-3352.
FINRA Arbitration: A Ray of Hope
For investors who find themselves in similar situations, there’s a glimmer of hope. The Financial Industry Regulatory Authority (FINRA) Arbitration can help investors recover losses. This is especially reassuring given the magnitude of the alleged losses in this case.
What’s more, Haselkorn & Thibaut operates on a “No Recovery, No Fee” policy. This means you won’t have to pay a dime unless they successfully recover your losses. This is a significant assurance for investors who may be hesitant to seek legal help due to potential costs.
In conclusion, while the allegations are serious, there are mechanisms in place to help investors recover their losses. If you’ve been affected, don’t hesitate to reach out to Haselkorn & Thibaut for a free consultation. Remember, it’s not just about the money—it’s about justice.
