Many elderly or retired investors sustained massive losses in the Cushing Total Return Fund (Ticker: SRV). SRV is a publicly traded, non-diversified, closed-end management investment company. The Fund’s investment objective is to obtain a high after-tax total return by investing at least 80% of its net assets, plus any borrowings for investment purposes, in energy Master Limited Partnerships (MLPs). Unfortunately, many brokers concentrated a disproportionate amount of client assets in Cushing. This has caused a massive hole in the account statements of tens of thousands of investors. Many of these recommendations may have been unsuitble investment recommendations and in violation of FINRA’s Conduct Rules. FINRA Rule 2310 requires the representative to only make suitable recommendations and to deal fairly with customers. Brokers are required to take into consideration their clients age, financial resources, and investment objectives when making recommendations to clients. In these cases where Cushing was recommended to clients, some, or all, of the investment losses might be recoverable through the FINRA arbitration claims process. To learn if you can sue to recover investment losses in the Cushing Total Return Fund, please call our investment fraud law firm.
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