Recently, Wade James Lawrence was barred from the financial industry by the Financial Industry Regulatory Authority (FINRA). Investors’ rights lawyers are exploring accusations made against Lawrence regarding misappropriation of funds during his time as a broker. According to the FINRA report, Lawrence failed to respond to these allegations, and in doing so forfeited his opportunity…
Continue reading ›Investors’ rights lawyers are advising senior investors to stay alert when looking at potential investment opportunities. Recently, a Financial Industry Regulatory Authority (FINRA) panel entered an arbitration award in favor of a senior couple against Ameriprise Financial Services Inc. regarding an investment made six years ago. Albertus Niehuis Jr. and his wife Andrea allegedly made…
Continue reading ›Some brokers might be facing investigation from stockbroker arbitration lawyers after recommending that clients invest in DCM Alpha Fund LLC. According to the registration form filed with the SEC, DCM Alpha Fund is an unregistered pooled investment fund, which puts it in a different category than more traditional investments. However, some stockbrokers and/or investment advisors…
Continue reading ›David Zeng was recently barred from working within the securities industry after he failed to respond to inquiries concerning over a dozen customer complaints about his investment activities. These complaints alleged misrepresenting an investment, unauthorized stock trading, unsuitable investment advice and fraud. Prior to starting with Merrill Lynch in 2009, Zeng worked for UBS Financial…
Continue reading ›Securities arbitration attorneys are currently investigating claims on behalf of investors who suffered significant losses in AXA Equitable Life Insurance Company Equi-Vest or Accumulator variable annuity contracts — specifically those invested in the managed funds, AXA Tactical Manager Strategy or ATM-managed funds. Reportedly, the New York State Department of Financial Services (“DFS”) launched an investigation…
Continue reading ›While former stock promoter Robert J. Vitale sits in prison for two years for lying to investigators in a previous investigation about another matter, the U.S. Securities & Exchange Commission (SEC) has decided to file fraud charges against him. The complaint, filed in the U.S. District Court for the Southern District of Florida, accuses Vitale…
Continue reading ›Investor arbitration lawyers continue to investigate claims on behalf of customers of VSR Financial Services regarding the unsuitable recommendation and sale of alternative investments. Another claim was filed recently against one broker registered with VSR Financial Services, Dennis Van Patter. This particular claim is regarding the following alternative investments: According to securities arbitration lawyers, these…
Continue reading ›Securities attorneys are currently investigating claims on behalf of the customers of Christopher B. Birli and Patrick W. Chapin, who suffered significant losses as a result of misrepresentations and unsuitable recommendations of variable annuities. Reportedly, Birli and Chapin received significant sales commissions for allegedly unsuitable recommendations to their customers. On March 27, a complaint was…
Continue reading ›Lawyers are investigating claims on behalf of investors who suffered significant losses in exchange-traded notes (ETNs) and exchange-traded funds (ETFs) issued by Credit Suisse and other full-service brokerage firms. According to Bloomberg, the $45,000 loss suffered by Jeff Steckbeck in TVIX, a Credit Suisse Group AG note, has set off a probe by the Securities…
Continue reading ›According to one claim that was recently filed, Morgan Stanley advisors recommended that one couple invest all their money into bonds issued by Puerto Rico Sales Tax Financing Corp., Puerto Rico Public Finance Corp. and Puerto Rico Electric Power Authority, when a low-risk, safe, fixed-income portfolio would have been more suitable for the couple. The…
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