Allegis Investment Advisors ordered to pay investors $911,000.
On January 8, 2018 an American Arbitration Association panel issued a $911,000 binding arbitration award to clients of the Law Office of David Liebrader. The award stems from options trading losses losses suffered by the clients in 2015. The award of $911,000 was issued against Allegis Investment Advisors, a registered investment advisor based in Boise, Idaho. Allegis offered a complex options trading strategy to its clients known as a net credit spread strategy.
In August 2015 this strategy failed spectacularly, causing over $39 million in losses to Allegis’ clients. The Law Office of David Liebrader filed a AAA arbitration against Allegis Investment Advisors on behalf of six clients who lost a combined $636,000. In December 2017 an arbitration hearing was held over seven days in Salt Lake City, chaired by arbitrator James Holbrook.