Sanford C. Bernstein & Co., Inc. n/k/a Sanford C. Bernstein & Co., LLC., Bernstein Investment Research and Management, a unit of Alliance Bernstein, L.P., and Alliance Capital Management, L.P.

FINRA Arbitration and Litigation Lawyer, Russell L. Forkey, Esq.

Recently, a South Florida couple filed a FINRA arbitration claim against Sanford C. Bernstein & Company, Inc. n/k/a Sanford C. Bernstein & Company, LLC, Bernstein Investment Research and Management, a unit of Alliance Bernstein, LP. and Alliance Capital Management, L.P.

It is alleged that they commenced their relationship with the respondents around the beginning of 2008. 

It is further alleged that at the time that the claimants were discussing establishing a relationship with the respondents, the respondents did not disclose to them that their clients had recently been suffering increased losses in the value of their portfolios, that volatility in the market place was increasing and that both the short and long term economic forecasts, if they continued, would further adversely affect the investments that the respondents chose and the strategy that they employed for their clients pursuant to the discretionary authority granted to them.

According to the statement of claim, the respondents failed to properly manage the claimants' accounts' assets during the financial collapse that accelerated in the calendar year 2008 and continued thereafter. Instead of taking any type of remedial action to protect their client's assets, the respondents remained committed to what became and continued to be an unsuitable investment strategy that caused to suffer. 

Some of the investment at issue were the Bernstein Diversified Municipal Portfolio, the Bernstein Tax-Managed International Portfolio, the Bernstein Emerging Markets Portfolio, U.S. Equity - U.S. Strategic Value, and U.S. Strategic Growth.