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The Securities Arbitration Law Firm of Klayman & Toskes Files $5 Million Arbitration Claim Against VSR Financial to Recover Losses Sustained in Alternative Investments

NEW YORK, April 29, 2014 (GLOBE NEWSWIRE) -- The Securities Arbitration Law Firm of Klayman & Toskes, P.A. ("K&T"), www.nasd-law.com, announced today that it filed a claim against VSR Financial Services ("VSR") on behalf of two investors who sustained losses in alternative investments. The claim was filed with the Financial Industry Regulatory Authority ("FINRA"), and seeks damages of $5,000,000.

The case filed against VSR is about the unsuitable investment recommendations and misrepresentations made by VSR and its financial advisor to the Claimants. VSR and its advisor solicited the Claimants to invest in alternative investments that were illiquid and carried high commissions. The VSR advisor misrepresented the risk of the investments and over-concentrated one of the Claimant's portfolios in these highly speculative investments. Unbeknownst to the Claimants, VSR and its advisor failed to do their proper due diligence and misrepresented the risk of the investments. The investments at issue in the claim include the following:

Ridgewood Institutional Venture Partners
Ridgewood Capital Venture Partners
Ridgewood QP Fund III
Ridgewood Energy QP Fund IV
Ridgewood Capital QP IV-B
Ridgewood Energy I Fund
Ridgewood Energy K Fund
Ridgewood Energy L Fund
Ridgewood Energy M Fund
Ridgewood Energy N Fund
Ridgewood Energy O Fund
Ridgewood Energy P Fund
Ridgewood Energy Q Fund
Ridgewood Energy R Fund
Ridgewood Energy S Fund
Ridgewood Energy T Fund
Ridgewood Energy U Fund
Waveland Vanguard Partners
Waveland Resource Partners I
Waveland Resource Partners, II
Waveland Drilling Partners 2006-A
Waveland Drilling Partners 2006-B
Waveland Drilling Partners 2007-A
Waveland Drilling Partners 2008-A
Waveland Drilling Partners 2010-A
Waveland Drilling Partners 2011-A
Waveland Drilling Partners 2011-B
Reef 2011 Private Drilling Fund
DBSI Note

The sole purpose of this release is to investigate, on behalf of our clients, the sales practices of VSR in connection with the sale of alternative investments to their customers. Current and former customers of VSR who purchased alternative investments, and have information relating to the manner in which the firm represented these products, are encouraged to contact Steven D. Toskes or Jahan K. Manasseh of Klayman & Toskes, at (888) 997-9956, or visit us on the web at www.nasd-law.com.

CONTACT: Klayman & Toskes (888) 997-9956Source:Klayman & Toskes P.A.