Investment Firm Can't Shake $55M Securities Suit

By Bonnie Eslinger (July 7, 2015, 8:23 PM EDT) -- A California federal judge refused to nix a securities class action against a financial firm accused of making high-risk investments that allegedly lost more than $55 million, saying Monday that the plaintiffs' couldn't be forced into an arduous and unfair arbitration.

In May, the investors sued Bock Evans Financial Counsel claiming the firm placed all or nearly all of their assets in high risk and highly speculative foreign mining stocks, "resulting in the decimation of its clients' portfolios." The company saw $60 million in assets under its management drop to $4.7 million from 2010 to 2015, the plaintiffs said.

U.S. District...

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