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SOURCE: Zamansky & Associates LLC
Zamansky & Associates LLC announces that it is expanding its investigation of Paulson & Co.’s (“Paulson”) Advantage and Advantage Plus hedge funds (the “Funds”) as well as related feeder funds sold by major brokerage firms, such as Morgan Stanley, Citigroup, UBS Financial and Merrill Lynch, over gold losses.
New York (PRWEB) March 09, 2013
Zamansky & Associates LLC announces that it is expanding its investigation of Paulson & Co.’s (“Paulson”) Advantage and Advantage Plus hedge funds (the “Funds”) as well as related feeder funds sold by major brokerage firms such as Morgan Stanley, Citigroup, UBS Financial and Merrill Lynch. According to a March 7, 2013 report by Kelly Bit of Bloomberg News, Paulson’s Gold Fund lost 18 percent last month and is down 26 percent for the year. The Advantage Funds were also down last month from exposure to metals and related stocks, she reports.
Previously, Zamansky launched an investigation over the losses suffered by the Paulson Funds and feeder funds after allegations were made in a lawsuit, Culverhouse v. Paulson & Co., Inc., docket no. 12-cv-20695-MGC (S.D. Fla.). The lawsuit focuses on the investment in Sino Forest by the Funds which resulted in a reported loss of $460 million. In his Amended Complaint, Culverhouse alleges that he suffered a loss from investing through one of the feeder funds, which SEC filings reflect have names such as UBS Paulson Advantage Fund, LionHedge Paulson, Paulson Advantage Access Fund, Morgan Stanley HedgePremier Paulson, and CAIS Paulson.
The Funds’ continued losses, as well as the losses suffered by the feeder funds, “continue to raise serious questions for investors," Jake Zamansky believes, “over whether the investment was suitable for investors, and the risks properly disclosed by financial advisors at Morgan Stanley, UBS Financial, Merrill Lynch and Citigroup." Zamansky believes that investments in private hedge funds are high risk, speculative ventures that should only be entered into by persons wealthy enough and sophisticated enough to appreciate the risks. Feeder Fund investors may also have a claim against their brokerage firm for failing to monitor or supervise the risks of the Paulson Funds, according to Jake Zamansky.
What Fund Investors Can Do
If you would like to discuss your legal rights and how you might recover your losses from the Paulson or feeder funds, you may, without obligation or cost to you, email jake(at)zamansky(dot)com or call the law firm at (212) 742-1414.
About Zamansky & Associates
Zamansky & Associates LLC is one of the leading law firms specializing in securities fraud and financial services arbitration and class action litigation. We represent both individual and institutional investors. Our practice is nationally recognized for our ability to aggressively prosecute cases and recover losses.
To learn more about Zamansky, please visit our website, http://www.zamansky.com.
Zamansky & Associates, LLC
50 Broadway - 32nd Floor
New York, NY 10004
Jake Zamansky, 212-742-1414
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