The allegations read: Claimants allege that financial consultant investment recommendations to purchase and to hold p.r. Close-end funds and p.r. Bonds resulted in an over concentrated and high risk portfolio, which were unsuitable in light of the client's risk tolerance. Claimants also allege that financial consultant made misleading representations regarding the products risks and liquidity. Claimant also states that the financial consultant recommended to have the claimant borrow against the securities using margin loan and failed to disclosed the risks attendant to the use of leverage.
