Bad investing

[ltd1000]

I have had 2 brokers which is no longer working at the firm that has my IRA, invested several times in poor companies over a five year periord, resulting in a ($30,000) loss and stuck with a bunch of very aggressive crap. The third broker they assigned me with said he would get back to me, which was 4 wks ago. What can I do? The firm is nationwide. signed, "upset in arkansas"(update) The office manager contacted me and said they really could not do anything. He also told me that for every transaction the brokers were to call me and discuss his reason for purchase or sale, which I told him never happened. He told me no way,this could never happen. He then told me, well due to this has already passed and the broker is no longer employed nothing could be done. wow, this is nuts, especially well known this firm is.........

[Edited by ltd1000 on 01-19-2001 at 10:35 AM]

 

[lawrat]

I am a law school graduate. What I offer is mere information, not to be construed as forming an attorney client relationship.

Look at your contract with them. Then get a corporate securities attorney to see if there is a way to sue for some sort of breach of fiduciary duty.