FSKR INVESTOR ALERT: KlaymanToskes Investigates Full-Service Brokerage Firms for Unsuitable Investment Recommendations Regard...
June 26 2020 - 11:44AM
Business Wire
National investment fraud law firm, KlaymanToskes (“KT”),
announces an investigation into full-service brokerage firms for
the unsuitable recommendations to purchase non-traded Business
Development Companies (“BDCs”) including: FS Investment Corp II
(“FSIC II”), FS Investment Corp III (“FSIC III”), FS Investment
Corp IV (“FSIC IV”), and Corporate Capital Trust (“CCTII”). These
four BDCs merged into the Franklin Square KKR Capital II Fund
(NYSE:FSKR) on December 18, 2019. On June 17, 2020, FSKR announced
the listing on the NYSE and that “J.P. Morgan, Morgan Stanley,
Keefe, Bruyette & Woods, A Stifel Company, and SunTrust
Robinson Humphrey are serving as lead advisors to FSKR in
connection with the listing.”
As a result of the IPO, FSKR Investors are now able to liquidate
their investments in previously non-traded BDCs at prices
considerably lower than the initial offering price. According to
securities attorney, Lawrence L. Klayman, “unsophisticated
investors who are unable to understand the risks associated with
BDCs must rely upon brokerage firms and its financial advisors to
provide suitable investment advice. Financial advisors who failed
to disclose all relevant facts, including the commissions and fees,
lack of liquidity and the required use of leverage to provide the
promised returns, have committed financial malpractice”
The sole purpose of this release is to investigate investment
recommendations provided by full-service brokerage firms prior to
the merger of four non-traded BDCs, FS Investment Corp II (“FSIC
II”), FS Investment Corp III (“FSIC III”), FS Investment Corp IV
(“FSIC IV”), and Corporate Capital Trust (“CCTII”), which now
trades on the NYSE, as the Franklin Square KKR Capital II Fund.
FSKR Investors with accounts at full-service brokerage firms, and
have information relating to the handling of their investment
portfolios are encouraged to contact Lawrence L. Klayman, Esq., at
(561) 542-5131, and download our Special Investor Report.
About KlaymanToskes
KlaymanToskes 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. KT
has office locations in California, Florida, New York and Puerto
Rico.
Destination: https://klaymantoskes.com/fskr-investor-alert/.
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version on businesswire.com: https://www.businesswire.com/news/home/20200626005449/en/
KlaymanToskes Lawrence L. Klayman, Esq., (561) 542-5131
lklayman@klaymantoskes.com www.klaymantoskes.com
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