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I'm Jeff Sonn, an attorney concentrating on securities fraud and consumer class actions. I use this blog to bring attention to regulatory filings involving financial advisors, current events in securities and cases in the financial services industry, and to help investors understand their rights and options for financial recovery. Questions? Contact me online or call anytime at 844-689-5754

Profunds Oil Equipment Distribution & Services UltraSector Profund Investment Losses

Energy funds suffered heavily in the market after the Coronavirus outbreak.

The Sonn Law Group is investigating allegations that brokers unsuitably recommended investments in energy funds. If you or a family member has suffered losses investing in the Profunds Oil Equipment Distribution & Services UltraSector Profund, we want to discuss your case. Please contact us today for a free review of your case.

profunds-oil-equipment-distribution-investment-lossesThe Profunds Oil Equipment Distribution & Services UltraSector Profund purportedly seeks daily investment results, before fees and expenses, that correspond to one and one-half times the return of the Dow Jones U.S. Select Oil Equipment & Services Index. The Index seeks to measure the performance of certain companies in the oil and equipment services sector of the U.S. equity market.

Energy funds suffered significant losses last week as equity markets worldwide plummeted amid investor fears about Coronavirus and an oil price war between Saudi Arabia and Russia. As of March 30, 2020, Profunds Oil Equipment Distribution & Services UltraSector Profund had a -86.13% YTD return. 

The Sonn Law Group is investigating allegations that brokerage firms may have recommended high energy investments such as Profunds Oil Equipment Distribution & Services UltraSector Profund to its clients. If your financial advisor over-concentrated your portfolio, you may have a claim to recover losses. 

Financial advisors are required to make suitable investment recommendations, accounting for your age, income, net worth, investment experience, and investment objectives.  Diversification is the key to reducing risk. As such, over-concentrated exposure to any sector or investment but particularly volatile industries like oil and gas can be unsuitable for many investors.

Contact Us Today

If you suffered losses investing in Profunds Oil Equipment Distribution & Services UltraSector Profund, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.

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Contact our office today to discuss your case. You can reach us by phone at 844-689-5754 or via e-mail. To send us an e-mail, simply complete and submit the online form below.