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The Securities Arbitration Law Firm of Klayman & Toskes Files $175,000 Arbitration Claim Against NFP Securities To Recover Losses Sustained in Alternative Investments Including Hennessey Fund a/k/a Capital Solutions Monthly Income Fund

NEW YORK, June 2, 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 NFP Securities ("NFP") on behalf of two retirees to recover losses sustained in alternative investments, including Hennessey Fund a/k/a Capital Solutions Monthly Income Fund ("Hennessy Fund") and Icon Fund 12. The claim was filed with the Financial Industry Regulatory Authority ("FINRA"), and seeks damages of $175,000.

According to the Claim, this case is about the unsuitable investment recommendations and misrepresentations made by NFP and its financial advisor to the Claimants. While Claimants held accounts with NFP, the firm's advisor solicited the Claimants to invest in alternative investments that were illiquid and carried high commissions. In response to the Claimants' stated objectives, the NFP advisor recommended the Hennessy Fund a/k/a Capital Solutions Fund and Icon Fund 12. In making the recommendations, the NFP advisor stated that these were moderate risk investments that would generate steady dividends with little to no fluctuation. Unfortunately, contrary to the advisor's representations, these products were actually high risk, illiquid investments which exposed the Claimants' retirement nest egg to significant risk. Moreover, the money invested in these illiquid investments represented about 45% of the Claimants' liquid net worth which was unsuitable. As a result of the conduct of NFP and its advisor, Claimants sustained substantial investment losses.

The sole purpose of this release is to investigate, on behalf of our clients, the sales practices of NFP in connection with the sale of alternative investments to their customers. Current and former customers of NFP 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: (888) 997-9956 www.nasd-law.comSource:Klayman & Toskes P.A.