KlaymanToskes ("KT"), http://www.klaymantoskes.com, announces an investigation on behalf of investors who sustained losses in excess of $100,000 from the recommended purchase of New York Mortgage Trust, Inc. (NASDAQ:NYMT) (“NYMT”) a Real Estate Investment Trust (“REIT”). NYMT closed at 6.27 on February 21, 2020, prior to the significant market event that was precipitated by COVID-19. Today, NYMT trades at around 1.37, or nearly 80% lower than its market value on February 21, 2020. This investment 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 by their full-service brokerage firm or their financial advisor.
NYMT recently announced that it did not expect to be able to fund future margin calls. Investors may seek damages in FINRA arbitration if a financial advisor made a recommendation to purchase the security without fully explaining the risks, including leverage and concentration risks, or if the investment was unsuitable for the investor’s risk profile. However, if you made self-directed trades in your investment account with E-Trade, TD Ameritrade, Charles Schwab, Fidelity, or Interactive Brokers, or another self-trading platform, this investigation does not apply to you.
The sole purpose of this release is to investigate the negligence and financial misconduct of brokerage firms and financial advisors in connection with the sale of NYMT to their customers. Investors who purchased this investment 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/notice-to-new-york-mortgage-trust-inc-nymt-investors/
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