Naples, FL., — Vernon Litigation Group, based in Naples, Florida is representing investors that have suffered losses due to the Sanford Bernstein/Alliance Bernstein Options Advantage Fund. Bernstein brokers solicited its clients to invest in a new complex options strategy titled “Options Advantage” described as “seeking incremental return in a low yield environment.” It is alleged that such was presented as a low risk, low volatility, cash free way of earning an additional 1-2% annual return on the assets already at the firm, as well as promoted the use of margin to avoid having the investors deposit additional funds, thus providing the appearance of less risk to the investor. It is alleged that instead of what was presented, in actuality Bernstein, utilizing its discretion, speculated on the direction of markets via the purchase and sale of call and put options on the S&P 500, which became a series of risky bets on the direction the market indexes utilizing the leverage of margin, which strategy, by their own eventual admission, was not meant for volatile markets. As a result, significant losses started to be incurred from the start of the strategy, all the while the advisors placated their investors. If you or someone you know suffered losses in the Bernstein Options Advantage Fund, please contract one of our securities attorneys to receive a complimentary evaluation of your case.
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