If you suffered losses in SSL, Sasol Spon ADR, and were not a speculative investor you may be entitled to loss recovery. Please call the Law Offices of Jeffrey Pederson at 303-300-5022 for a free and confidential consultation.
From its high in April 2019 of over $34 per share, SSL has lost over 90% of its value as of March 11, 2020. This is an investment that was not only highly speculative, but was known to be highly speculative. As a speculative investment, advisors and brokers cannot recommend or purchase such an investment for conservative, moderate or growth investors since such a purchase would be unsuitable.
Investment professionals have a duty to purchase only suitable investments. This obligations for brokers stems from FINRA, the Financial Industry Regulatory Authority, rules. For advisors, the act of purchasing unsuitable investments runs contrary to the fiduciary obligations of care and prudent investing.
SSL is an emerging markets investment. This, in and of itself, is a high-risk field. SSL has even higher risk than other emerging market investments. The investment holds some of the riskiest investments in the MSCI Emerging Markets Index.
While many firms may be looking to recover by means of a class action route, recovery from class actions may be small. We believe greater liability leading to greater recovery exists with those brokerage and advisory firms that allowed this speculative investment be sold to retail investors.