Levin Law, P.A. Is Investigating Brokerage Firms That Recommended and Sold Goldman Sachs MLP Income Opportunities Fund (GMZ) to Customers
The national securities law firm, Levin Law, P.A. (“Levin Law”) has launched an investigation into securities brokerage firms that recommended and sold the Goldman Sachs MLP Income Opportunities Fund (GMZ) to investors. Please contact us at (855) 862-2306 or co*****@le********.com if your financial advisor recommended Goldman Sachs MLP Income Opportunities Fund and you suffered significant losses.
GMZ has dropped more than 80% in value in the last 6 weeks. Certain financial institutions marketed GMZ as being a conservative investment appropriate for risk-averse customers, such as senior citizens and those seeking to preserve their capital.
GMZ Is a Risky and Complex Investment
GMZ was always a risky investment and subject to meaningful risk of loss. Unfortunately for investors, however, many financial professionals informed their clients that the Goldman Sachs MLP Income Opportunities Fund was a “safe” or conservative investment. When making recommendations to purchase securities, including MLPs, financial advisors have the duty to fully explain all important risks of such investments. Many stockbrokers, however, did not disclose the true risks inherent in GMZ, resulting in investors thinking that their GMZ investments were safe. Those investors were understandably surprised when their “safe” investments dropped more than 80% in value during the most recent market decline, which was, in part, due to the spread of the Coronavirus.
