Securities fraud attorneys are currently investigating claims on behalf of investors who suffered significant losses as a result of their financial investments with Jeffrey A. Cashmore and LPL Financial. According to the Financial Industry Regulatory Authority allegations against him, Cashmore prepared and distributed sales literature to prospective and current customers that was misleading. Furthermore, he…
Continue reading ›On November 8, 2012, the Financial Industry Regulatory Authority issued a news release stating that it has barred Mark Gillis, Chief Executive Officer for Hudson Valley Capital Management, and expelled the firm itself for defrauding its customers. The fraud occurred when funds and securities were used to cover losses incurred by manipulative day trading executed…
Continue reading ›Securities fraud attorneys are currently investigating claims on behalf of customers of Berton Hochfeld, following the announcement that Hochfeld has been charged with securities fraud and wire fraud. Hochfeld, the 66-year-old manager of Hochfeld Capital Management LLC, allegedly stole over $1 million from investors. According to an article in Bloomberg, Hochfield was arrested the morning…
Continue reading ›According to a news release on October 22, 2012, the Financial Industry Regulatory Authority has sanctioned David Lerner Associates Inc. and ordered the company to pay approximately $12 million to customers. The affected customers purchased Apple REIT Ten shares, which is a non-traded Real Estate Investment Trust sold by David Lerner Associates. Some customers who…
Continue reading ›Securities fraud attorneys are currently investigating claims on behalf of the customers of William T. Johnson. A resident of Palm Beach Gardens, Fla., Johnson is accused of stealing around $500,000 from 13 clients. Johnson allegedly informed his clients that he would invest their money in Certificates of Deposit (CDs), Individual Retirement Accounts (IRAs), short-term commercial…
Continue reading ›According to stock fraud lawyers, four brokers were recently charged by the Securities and Exchange Commission with securities fraud. The SEC’s allegations state that the four brokers illegally overcharged their customers $18.7 million. Reportedly they perpetuated their fraud by keeping a portion of profitable trades executed in customer accounts and using hidden markups and markdowns.…
Continue reading ›Following the dismissal of the class action lawsuit against ProShares, securities fraud attorneys are investigating potential claims on behalf of investors who suffered significant losses as a result of their investment in the ProShares leveraged and inverse exchange-traded funds. The U.S. District Court for the Southern District of New York recently dismissed the class action…
Continue reading ›Securities fraud attorneys scored a win for investors in FINRA arbitration against a unit of Citigroup Inc. in a FINRA ruling on September 5. The arbitration panel ordered Citigroup to pay investors losses amounting to $1.4 million. These losses were associated with a municipal bond steeped in derivative securities that were very risky — yet…
Continue reading ›Stock fraud lawyers are currently investigating claims on behalf of investors of Icon Leasing Fund Eleven investors. A recent announcement stated that investors will not be able to withdraw their money from Icon for another seven years longer than originally agreed. ICON Leasing Fund Eleven LLC participates in the purchasing and leasing of various types…
Continue reading ›Securities fraud attorneys are currently investigating claims on behalf of investors who suffered losses as a result of their investment in Bradford Drilling or Bradford Exploration. Bradford Exploration is, according to its Form D filing with the Securities and Exchange Commission, an oil and natural gas development company based in Buffalo, New York. Bradford Drilling…
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