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Retiree Sues Kovack Securities and Its Broker Susan Penney Over Investment Losses
Elderly Investor Alleges Unsuitable Investment Recommendations Caused REIT Losses
An Oklahoma retiree is seeking up to $500K in damages for investment losses she suffered while working with Kovack Securities broker, Susan Penney.
The claimant contends that Penney and the broker-dealer misled her and made unsuitable recommendations when they persuaded her to invest a huge portion of her portfolio in non-public Real Estate Investment Trusts (REITs) and other risky investments that an inexperienced investor like her should never have been involved in.