Investors Who Suffered Losses May Be Able to Take Legal Action
Investors who have suffered losses in the Sanford Bernstein/Alliance Bernstein Options Advantage Fund might be entitled to take legal action. It is alleged that the complex options strategy offered by Sanford C. Bernstein & Co., LLC, and Alliance Bernstein L.P. (“Sanford Bernstein/Alliance Bernstein”) was misrepresented as a safe, low-risk investment. In reality, the now-failed options strategy was highly vulnerable to market volatility, costing investors substantial losses during fluctuations.
The national securities and investment fraud law firm, Levin Law, P.A. (“Levin Law”), is currently investigating claims related to the Sanford Bernstein/Alliance Bernstein Options Advantage Fund. Investors in the fund who sustained losses are strongly encouraged to contact Levin Law to schedule a free case evaluation. Levin Law founder and managing attorney Brian Levin can be reached at (855) 419-2412 or via email at contact@levinlawpa.com.
Sanford Bernstein/Alliance Bernstein Options Advantage Fund Losses
The “Options Advantage” fund offered by Sanford C. Bernstein & Co., LLC, and Alliance Bernstein L.P. was reportedly a complex options strategy sold to investors as an investment that offered little risk and a 1-2% annual return. It is alleged that the financial services firm enticed investors through material misrepresentations and omissions about the potential risks associated with the strategy.
Investors were reportedly told that the investment was a “low-volatility” and “cash-free” way to earn a small annual return. In reality, the complex options strategy was highly volatile and subject to market fluctuations. As a result, investors suffered substantial losses. The firm allegedly did not test how market volatility would affect the strategy, thereby only speculating about how the fund would perform.
Closing the Sanford Bernstein/Alliance Bernstein Options Advantage Fund
In 2022, investors were informed that the Options Advantage program was unsuitable for highly volatile markets and that the fund would be closed. Investigations into the failure indicate that the firm made purely speculative decisions on “call” and “put” options that were purchased and sold on the S&P 500. The risky decisions resulted in significant losses to investors. The Options Advantage program was allegedly offered to investors from 2018 until its closing in 2022.
Aggrieved Investors May Be Able to Take Legal Action
Investors in the Options Advantage fund may be eligible to take legal action. Individuals who suffered losses due to the complex options strategy are strongly encouraged to contact Levin Law for a free case evaluation. Multiple lawsuits have already been filed against Sanford C. Bernstein & Co., LLC, and Alliance Bernstein L.P.
Contact Levin Law, P.A. for a Free Case Evaluation
If you invested in the Sanford Bernstein/Alliance Bernstein Options Advantage Fund and sustained losses, it is recommended that you contact Levin Law founder and managing attorney Brian Levin directly at (855) 419-2412 or via email at contact@levinlawpa.com to schedule a free case evaluation.
Most cases are handled on a contingency fee basis, meaning clients are not obligated to pay Levin Law attorney fees unless money is recovered on their behalf. Case evaluations are provided without obligation to retain our firm.
About Levin Law
Levin Law is a premier national cryptocurrency, securities, commodities, futures, and class action law firm. Brian Levin, Levin Law’s founding attorney, has helped recover in excess of $150,000,000 through arbitration and litigation for individual and institutional investors throughout the country and the rest of the world. Levin Law represents retirees, individual investors, high-net-worth investors, ultra-high-net-worth investors, institutions, family offices, trusts, publicly held companies, and others.
