Financial Counsel by Eccleston Law

VelocityShares Daily 2x VIX Short-Term ETN Loss Recovery Attorneys

If you have suffered losses in Credit Suisse's VelocityShares Daily 2x VIX Short-Term ETN ("TVIX") that were recommended by a broker or financial adviser, you may be able to recover your losses through FINRA arbitration.

The TVIX is an exchange traded note ("ETN") that was designed to track an an index that is linked to the the Chicago Board Options Exchange Volatility Index (also known as the "VIX").  This ETN was designed to deliver returns that are double (2x) the daily direction of the VIX.  Investors use the TVIX to hedge stock portfolios.

Since 2009, various VIX ETNs have become available to retail traders, expanding a space that was previously reserved for more sophisticated and insitutional traders. 

Like stocks or other exchange-traded funds, the TVIX ETNs trade on the open market. However, these are actually debt-backed securities collaterialized by the credit of the issuer, which in the case of TVIX is Credit Suisse. 

On February 21, 2012, Credit Suisse announced that it had temporarily suspended the VelocityShares Daily 2x VIX Short-Term ETNs (TVIX) ETNs from further issuance due to interal limits on the size of the ETNs.  According to Credit Suisse, this suspension of new TVIX shares triggered an imbalance in the market, which resulted in VelocityShares Daily 2x VIX Short-Term ETNs (TVIX) trading at a significant premium to its intrinsic value (the VIX index that it was designed to track).

On March 22, 2012, Credit Suisse announced that it would issue more shares of the TVIX leveraged exchange-traded note following a month suspension. However, the damage to investors may be done.  Investors, who bought the Credit Suisse VelocityShares Daily 2x VIX Short-Term ETNs (TVIX) to profit from rising volatility, are believed to have lost about $340 million when it dropped more than 50 percent. The plunge began even before Credit Suisse announced on the evening of March 22, 2012 that it would resume issuing shares.

Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by unsuitable investment recommendations, breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars for investors.

If you are an investor that has suffered substantial losses investing in a leveraged exchange-traded note such as the Credit Suisse VelocityShares Daily 2x VIX Short-Term ETNs (TVIX) that was recommended by a broker or financial adviser, your losses may be recoverable through securities arbitration. Please contact one of the attorneys at Eccleston Law Offices at 312-332-0000 to discuss your recovery options.

TVIX Loss Recovery Attorneys

If you have suffered losses in Credit Suisse's VelocityShares Daily 2x VIX Short-Term ETN ("TVIX") that were recommended by a broker or financial adviser, you may be able to recover your losses through FINRA arbitration.

The TVIX is an exchange traded note ("ETN") that was designed to track an an index that is linked to the the Chicago Board Options Exchange Volatility Index (also known as the "VIX").  This ETN was designed to deliver returns that are double (2x) the daily direction of the VIX.  Investors use the TVIX to hedge stock portfolios.

Since 2009, various VIX ETNs have become available to retail traders, expanding a space that was previously reserved for more sophisticated and insitutional traders. 

Like stocks or other exchange-traded funds, the TVIX ETNs trade on the open market. However, these are actually debt-backed securities collaterialized by the credit of the issuer, which in the case of TVIX is Credit Suisse. 

On February 21, 2012, Credit Suisse announced that it had temporarily suspended the VelocityShares Daily 2x VIX Short-Term ETNs (TVIX) ETNs from further issuance due to interal limits on the size of the ETNs.  According to Credit Suisse, this suspension of new TVIX shares triggered an imbalance in the market, which resulted in VelocityShares Daily 2x VIX Short-Term ETNs (TVIX) trading at a significant premium to its intrinsic value (the VIX index that it was designed to track).

On March 22, 2012, Credit Suisse announced that it would issue more shares of the TVIX leveraged exchange-traded note following a month suspension. However, the damage to investors may be done.  Investors, who bought the Credit Suisse VelocityShares Daily 2x VIX Short-Term ETNs (TVIX) to profit from rising volatility, are believed to have lost about $340 million when it dropped more than 50 percent. The plunge began even before Credit Suisse announced on the evening of March 22, 2012 that it would resume issuing shares.

Eccleston Law represents individual and institutional investors nationwide to recover their investment losses caused by unsuitable investment recommendations, breach of fiduciary duty, negligence or other misconduct. We have extensive experience representing investors in arbitration and litigation disputes with securities broker-dealers and investment advisory firms, and have recovered tens of millions of dollars for investors.

If you are an investor that has suffered substantial losses investing in a leveraged exchange-traded note such as the Credit Suisse VelocityShares Daily 2x VIX Short-Term ETNs (TVIX) that was recommended by a broker or financial adviser, your losses may be recoverable through securities arbitration. Please contact one of the attorneys at Eccleston Law Offices at 312-332-0000 to discuss your recovery options.

Woodbury Financial Services Broker Transition Attorneys

Registered representatives of Woodbury Financial Services who are transitioning to a new firm should contact our attorneys for a free, no obligation consultation of their transition options. 

The Hartford Financial Services Group Inc.'s recently announced its intent to sell independent broker-dealer Woodbury Financial Services Inc., which marks its move to exit the independent broker-dealer market. 

Eccleston Law represents financial advisers nationwide in regulatory, compliance, disciplinary and employment matters in arbitration, litigation, and before regulatory bodies such as the SEC, FINRA and state securities regulators.  If you are a Woodbury Financial represenative who is seeking a transition, please contact one of our attorneys at 312-332-0000 to discuss your move.

Puda Coal Investment Loss Recovery Options

Investors who have suffered losses investing in Puda Coal, Inc. may be able to recover their losses through securities arbitration or litigation.  Our attorneys are currently seeking to discuss with investors their recovery options following the recent SEC allegations and subsequent devaluation of Puda Coal stock.

On February 22, 2012, the SEC filed an injunction charging that the Chairman of Puda Coal, Ming Zhao, and the former CEO of Puda Coal, Liping Zhu, perpetrated a massive fraud on Puda Coal’s shareholders by stealing and selling an operating subsidiary of the company.  According to the SEC, just weeks before Puda Coal announced that Shanxi Coal had received a lucrative mandate from Chinese goverment authorities to be come the consoldiator of smaller mining companies, Zhao transferred Puda Coal’s stake in Shanxi to himself without approval from the Puda Coal board of directors or its shareholders.  Moreover, Puda Coal conducted two public offerings in 2010 without disclosing that it no longer had ownership stake in the coal company, which was Puda’s primary source of revenue.  At the same time, Zhao and Zhu were telling U.S. investors that Puda that it still owned its stake in Shanxi Coal.

Puda Coal was traded on the NYSE Amex stock exchange.  Puda Coal had gone public in the United States through a reverse merger with a publicly traded shell corporation in 2005.  In February of 2010, Puda coal raised over $12 million from U.S investors, in an offering underwritten by Brean Murray, Carret & Company of New York and Newbridge Securities of Fort Lauderdale, Fla.  In December of 2010 , another $100 million of shares were underwritten by Macquarie Capital, a Canadian firm, and Brean Murray.

Investors paid upwards of $12 a share for stock in those offerings.  Puda Coal now trades for about 25 cents per share on the OTC market, representing almost a complete loss for investors.

If you are an investor that has suffered losses investing in Puda Coal, you may be able to recover your losses through securities arbitration or litigation.  Please contact one of our attorneys at 312-332-0000 for a FREE, NO OBLIGATION CONSULTATION to discuss your recovery options.

www.pudacoallosses.com