Investors who bought Russian stocks through a financial advisor that are halted or delisted are encouraged to contact a securities lawyer today.
Following the Russian invasion of Ukraine in February 2022, the New York Stock Exchange (NYSE) and Nasdaq suspended trading in the securities of a number of Russian companies. In March 2023, both exchanges announced their decisions to permanently delist Russian companies, citing "public interest" concerns.
The delistings affected a range of Russian companies, including internet giants Yandex and Ozon, as well as recruiter Headhunter and payment service provider Qiwi. Some of these companies, such as Yandex, have not been directly sanctioned by the West, but the exchanges decided that their continued listing was not in the best interests of investors. Many financial advisors were warned that this was a possibility but continued to hold Russian companies for their clients.
The Biden administration prohibited investors from purchasing Russian Federation stocks and bonds on June 6th, 2022. The Van Eck Russia ETF (symbol RSX) and iShares MSCI Russia ETF (symbol EURS) were the more well known ETF’s related to those stocks. The Russian government prohibited Russian companies from having their shares traded outside Russia via ADR’s in April 2022, so all related ADR’s have been delisted. American depositary receipt (ADR) refers to a negotiable certificate issued by a U.S. depositary bank representing a specified number of shares of a foreign stock. Customers of brokers who have sustained losses related to heavy positions in Russian stocks like those listed below that were recommend by a financial advisor please contact Soreide Law Group https://www.securitieslawyer.com at 1-888-760-6552
Other Russian Stocks and stock symbols Soreide Law is investigating that may have been sold by a financial advisor include:
MMC Norilsk Nickel MNOD
Lukoil ADR symbol LKOD
Sberbank of Russia SBER
Gazprom ADR OGZD
Tatneft ADR ATAD
Novatek NVTK
Rosneft Oil ROSN
Magnit MGNT
Mobile Telesystems MBT
X5 Retail Group FIVE.L
Soreide Law Group represents customers against financial advisors nationwide through the Financial Industry Regulatory Authority. Call an experience and aggressive securities lawyer today at 888-760-6552 or visit https://www.securitieslawyer.com.
