ATTENTION FMSBONDS CUSTOMERS WHO PURCHASED FRONTIER COMMUNICATIONS BONDS: KlaymanToskes Commences Investigation on Behalf of ...
April 24 2020 - 11:45AM
Business Wire
KlaymanToskes (“KT”), www.klaymantoskes.com, announces an
investigation on behalf of customers of FMSbonds (“FMS”) who were
recommended to purchase Frontier Communications (NASDAQ:FTR)
(“Frontier”) bonds. These bonds may have been marketed and sold to
investors who were risk averse, such as retirees or other
conservative investors, that were seeking income and capital
preservation and were not explained the potential risks.
Under FINRA Rules, broker-dealers have an obligation to make
suitable recommendations to their customers and to conduct adequate
due diligence into investments before recommending them to
customers. Furthermore, FMSbonds was obligated to properly
supervise the activities of its brokers to determine if they were
making suitable recommendations to their customers. FMS has been
sanctioned multiple times by the Financial Industry Regulatory
Authority (“FINRA”) for its offer and sale of bonds.
Frontier recently filed for bankruptcy protection after
announcing that it would skip issuing bond payments due in March.
Investors may seek damages for violations of sales practice rules
and regulations in FINRA Arbitration if they were recommended to
purchase Frontier bonds.
The sole purpose of this release is to investigate on behalf of
customers of FMSbonds who were recommended to purchase Frontier
bonds. Current and former customers of FMSbonds who have
information relating to the manner in which the firm represented
Frontier bonds are encouraged to contact Lawrence L. Klayman, Esq.
of KlaymanToskes at (561) 542-5131, or visit our website at
www.klaymantoskes.com.
About KlaymanToskes
KT is a leading national securities law firm which practices
exclusively in the field of securities arbitration and litigation,
on behalf of retail and institutional investors throughout the
world in large and complex securities matters. The firm represents
high net-worth, ultra-high-net-worth, and institutional investors,
such as non-profit organizations, unions, public and multi-employer
pension funds. KT has office locations in California, Florida, New
York, and Puerto Rico.
Destination:
https://klaymantoskes.com/attention-fmsbonds-customers-who-purchased-frontier-communications-bonds/
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version on businesswire.com: https://www.businesswire.com/news/home/20200424005413/en/
KlaymanToskes Lawrence L. Klayman, Esq. (561) 542-5131
lklayman@klaymantoskes.com www.klaymantoskes.com
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