Cyprus News | Suing LM Investment Management Financial Advisors

Cyprus News | Suing LM Investment Management Financial AdvisorsCyprus News | Suing LM Investment Management Financial Advisors

Mark Walter, a commercial litigation lawyer with the Australian firm Slater & Gordon says that some investors have up to $1 million invested in LMIM mortgage funds, but have little prospect of getting any of their money back. For this reason they are seeking to sue the Financial Advisors who recommended they invest in the failed company. According to the Smart Company website:

“Slater & Gordon had already issued legal proceedings against Financial Advisors on behalf of a number of those investors and says more proceedings will be issued in coming weeks.”

This is bad news for Financial Advisors around the world who have advised their clients to invest in LMIM mortgage funds. Ignoring  whether these advisors have done anything illegal, the problem is that they are being sued and along with this their financial judgement is being questioned. This has got to be bad for business.

 

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