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Investment fraud lawyers are currently investigating claims on behalf of Ameriprise Financial and LPL Financial customers. Recently, the U.S. Securities Exchange Commission charged Blake B. Richards, a former LPL and Ameriprise Advisor Services advisor, with fraud. Allegedly, Richards misappropriated funds from a minimum of six individuals, amounting to around $2 million. According to the SEC,…

Securities fraud attorneys are currently investigating claims on behalf of customers of ProEquities Inc. Allegedly, ProEquities has engaged in the inappropriate sale of speculative and illiquid investments, including non-traded REITs. In one recent claim, a couple from Minnesota read an ad in the newspaper that reportedly contained the words “Retirement” and “Safe.” After reading this…

On May 22, 2013, secretary of the Commonwealth of Massachusetts William Galvin announced settlements with five major independent broker-dealers. According to the settlements, Ameriprise Financial Services Inc. will pay $2.6 million in restitution to investors and a $400,000 fine, Commonwealth Financial Network will pay restitution of $2.1 million and a fine of $300,000, Royal Alliance…

Investment fraud lawyers are currently investigating claims on behalf of investors who suffered significant losses in two mortgage REITs, American Capital Agency and American Capital Mortgage, following the announcement of 2013 first-quarter results. For the first quarter of 2013, American Capital Mortgage suffered losses of $0.56 per share and American Capital Agency suffered losses of…

Investment fraud lawyers are currently investigating claims on behalf of investors who suffered significant losses as a result of doing business with VSR Financial Services and/or Michael David Shaw, a financial advisor. Allegedly, Shaw and VSR Financial Services may have engaged in misconduct in connection with the sales of REITs, alternative investments, hedge funds and…

Massachusetts securities regulator William Galvin today announced settlements with five leading stock brokerages to make $8.6 million in restitution to investors and pay fines totaling $975,000 in connection with charges that the five firms engaged in improper sales of non-traded REITs to investors. The five firms that settled with Massachusetts are Ameriprise Financial Services Inc.,…

Law Office of Christopher J. Gray, P.C., a New York City law firm handling arbitration claims on behalf of investors throughout the United States, has filed multiple Financial Industry Regulatory Authority (“FINRA”) arbitration proceedings on behalf of investors who allege that registered representatives of LPL Financial Holdings, Inc.’s (Nasdaq:LPLA) brokerage subsidiary recommended unsuitable investments in…

Shareholders of CommonWealth REIT forced the resignation of a trustee on the company’s board, Joseph Morea, by failing to give him a majority of votes. Undaunted by this rare binding vote by shareholders to force out a board member, the other membesr of Commonwealth’s board simply voted Mr. Morea back into his board seat the…

Securities fraud attorneys are currently investigating claims on behalf of investors who suffered significant losses in InnerWorkings Inc. securities. According to recent reports, an investigation is underway to determine whether InnerWorkings and its executives committed federal securities violations and/or breached its fiduciary duty to shareholders. On April 16, 2013, the Wall Street Journal reported that…

Earlier this month, the Financial Industry Regulatory Authority (FINRA) issued a notice to broker-dealers stating that in some cases, they have not provided adequate service to investors in several areas, including the distribution of materials containing inaccurate and misleading statements related to non-traded real estate investment trusts, or REITs. Many securities arbitration claims have been…