PIMCO could be facing a federal lawsuit over how the company valued positions held by one of its bond funds. PIMCO received a Wells notice from the Securities and Exchange Commission (SEC) about some of its securities that contained bundled mortgages. A Wells notice is a letter that the SEC sends to firms when it is planning to bring an enforcement action against them. The SEC alleges that between February 29th and June 30th 2012, PIMCO misrepresented the value of certain securities purchased by its Total Return Active Exchange-Traded Fund (BOND). The ETF has more than $2.5 billion net assets and invests in low-risk debt securities. Exchange-Traded Funds are marketable securities that track an index, a commodity, bonds or a basket of assets. They commonly trade on a stock exchange and experience price changes throughout the day as they are bought and sold. They are alternative investments that may not be suitable for most investors, based on their portfolio, net worth, age and investment sophistication.
If you invested money in PIMCO’s BOND fund, please call our securities law office based in Chicago, Illinois to speak with an attorney about your options. We sue firms such as PIMCO in the Financial Industry Regulatory Authority (FINRA) for investor losses to help them recover money. The call is free with no obligation. We take cases on a contingency fee basis. 312-332-4200.
Disclaimer
The posting on this site are mere OPINIONS and NOT statements of fact in any way whatsoever. The information should not be relied upon and there have been no findings made against the firms or individuals referenced on this site. In addition, this Blog is made available for educational purposes only and incorporates information from the web as well as to give you general information and a general understanding of the law, not to provide specific legal advice. By using this blog site you understand that there is no attorney client relationship between you and Stoltmann Law Offices (161 N Clark Street 16th Floor Chicago, IL 60601). The Blog opinions should not be used as a substitute for competent legal advice from a licensed professional attorney in your state.
PLEASE NOTE THIS IS ADVERTISING AND IT IS NOT A NEWSPAPER ARTICLE OR POST FROM AN INDEPENDENT OR NON-BIASED, NEWS SITE, NEWS SOURCE OR NEWSPAPER.