Investor Alert: Recovery Options for Investors Who Lost Money in Credit Suisse’s XIV Exchange Traded Note (ETN): Part 2

Posted on April 15th, 2018 at 5:47 PM
Investor Alert: Recovery Options for Investors Who Lost Money in  Credit Suisse’s XIV Exchange Traded Note (ETN): Part 2

From the Desk of Jim Eccleston at Eccleston Law LLC:

In Part 1, we asked how this investment product could have lost 97% of its value in a single day – February 5, 2018. 

The answer is timely pricing.  Credit Suisse promised investors holding XIV that it would publish an estimate of the current economic value of XIV shares every 15 seconds based on real time VIX futures prices.  However, Credit Suisse did not do so.

4:10 pm is a pivotal time.  According to experts, it is at that time that Credit Suisse effectively stopped updating its estimate of the current economic value of XIV shares when VIX futures prices were changing significantly.

In Part 3, we discuss the specifics, and how unsuspecting buyers of XIV shares were duped (at least until they can recover through litigation) out of approximately $700 million by sophisticated, well-informed sellers.

The attorneys of Eccleston Law LLC represent investors and advisors nationwide in securities and employment matters. The securities lawyers at Eccleston Law also practice a variety of other areas of practice for financial investors and advisors including Securities FraudCompliance ProtectionBreach of Fiduciary DutyFINRA Matters, and much more. Our attorneys draw on a combined experience of nearly 65 years in delivering the highest quality legal services. If you are in need of legal services, contact us to schedule a one-on-one consultation today.

Related Attorneys: James J. Eccleston

Tags: Eccleston, Eccleston Law, James Eccleston, Eccleston Law LLC

Return to Archive

TESTIMONIALS

Previous
Next

I have the best legal firm in the country to defend me. Awesome job!

Cindy C.

LATEST NEWS AND ARTICLES

February 14, 2025
Jefferies Financial Group Dismisses Miami Advisory Team Amid Alleged Misconduct

Jefferies Financial Group recently terminated a team of Miami-based wealth advisors following allegations of improper money transfers and the use of unauthorized communication methods to conceal the activity.

February 13, 2025
FINRA Panel Denies J.P. Morgan's $39.7 Million Claim Against Former Advisor

A FINRA arbitration panel recently rejected J.P. Morgan Securities’ bid to recover $39.7 million in damages from Edward Turley, a former financial advisor whose alleged
misconduct led the firm to incur significant settlement costs.

February 12, 2025
Edward Jones Advisor Barred by FINRA Over Allegations of Unauthorized Account Changes

FINRA has barred Gwendolyn J. Hayes, a former Edward Jones advisor in Oregon after allegations surfaced that she altered client account information without authorization.