Mark Jensen (CRD#: 2748816), a Registered Investment Adviser with Tembion Capital Management LLC (CRD#: 160788) in Santa Fe, New Mexico, is currently involved in two pending customer disputes over LJM Preservation and Growth Fund (LJMAX/LJMIX), according to his Investment Adviser Public Disclosure (IAPD) accessed on May 18, 2020. What happened? Read on to find out more about the collapse of LJM Preservation and Growth Fund and how it led to customer complaints against Mark Jensen.
On January 20, 2020, Mark Jensen became involved in a dispute that is currently pending. Beneficiaries of a parental account are seeking $200,000 in damages, alleging that Mark Jensen committed fraud through misrepresentation and omission, breached his fiduciary duty, breached his written and oral contact, violated state and federal securities laws, and other allegations. The claimants’ parents invested in LJM Partners.
This is not the only pending complaint against Mark Jensen. On April 9, 2020, a client alleged that he lost money in LJM Partners because of Mark Jensen’s negligence, among other allegations. The client also alleges that Mark Jensen violated the New Mexico Uniform Securities Act and the New Mexico Unfair Practices Act. The client is seeking $361,262.02 in damages.
How did this all come about? Morningstar had initially given the LJM Preservation and Growth Fund (LJMAX/LJMIX) a five-star rating. But nothing gold can stay, and everything fell apart on February 5-6, 2018, when the fund collapsed and lost much of its value.
Mark Jensen’s troubles began on February 22, 2018, when he received his first customer complaint, according to his BrokerCheck record. The client alleged that Mark Jensen breached his fiduciary duty, engaged in unfair trade practices, and engaged in negligent misrepresentation. They further alleged that he breached his contract, breached the implied covenant of good faith and fair dealing, and engaged in negligent supervision, among other allegations. The investment at issue was LJM Preservation and Growth which collapsed on February 5-6, 2018. The client originally requested $726,980.32 and the dispute ultimately settled for $225,000.
On March 19, 2018, Mark Jensen became the subject of two customer complaints. First, a client alleged that Mark Jensen committed negligence and breached his fiduciary duty. The investments at issue were LJM Preservation and Growth. The client originally sought $1,360,000 in damages; the matter later settled for $400,000. Second, another client alleged that Mark Jensen breached his fiduciary duty, engaged in negligent misrepresentation, and committed professional negligence. Furthermore, the client alleged that he violated the securities laws of New Mexico (specifically the New Mexico Unfair Practices Act and the New Mexico Uniform Securities Act). The investment products were LJM Partners’s investment products. The client originally sought $6,158,176.48 in damages, but the matter ultimately settled for $427,329.
On May 22, 2018, a fourth client alleged that Mark Jensen engaged in negligence, breached his contract, and breached his fiduciary duty. What happened? The clients incurred losses when LJM Preservation and Growth collapsed on February 5-6, 2018. The dispute ended in an award/judgment. The client originally requested $200,000 in damages, but the client was ultimately awarded more than that: $272,029.53.
On May 29, 2018, a fifth client filed a complaint against Mark Jensen. They alleged that he breached his fiduciary duty by recommending LJM Preservation and Growth. The client originally requested $160,000 in damages, and the matter later settled for $60,000.
If Mark Jensen was your broker and you lost money in the LJM Preservation and Growth Fund, don’t hesitate to contact the securities attorneys of Fitapelli Kurta to learn more about your options for investment loss recovery. Call (877) 238-4175 or email email@example.com for your free case consultation with a securities attorney.