Investor Lawyers Blog

In August 2014, the Financial Industry Regulatory Authority (FINRA) filed a complaint against Jeffrey Meyer for allegedly participating in 37 private securities transactions, totaling over $1.5 million in violation of firm policies and FINRA Rules. Meyer was affiliated with Waddell & Reed and WRP Investments, Inc. FINRA singled out the following private securities transactions in…

The Securities and Exchange Commission (SEC) charged Donna Jessee Tucker with stealing $730,000 from her elderly clients in order to finance her luxurious lifestyle. The SEC alleges that Tucker purposefully arranged for her clients’ statements to be delivered electronically although some might not be able to access the internet due to their advanced age. Furthermore,…

VSR Financial Services, Inc. was recently part of a $3.74 million settlement in Texas state court because a former VSR advisor, Charles Chapman, allegedly recommended high risk, illiquid alternative investments during the credit crisis. Chapman allegedly recommended that his client, Mr. Gordon McLendon, Jr. invest in Diversified Business Services & Investments Inc. (DBSI). However, DBSI…

The Financial Industry Regulatory Authority (FINRA) sanctioned broker Michael Zukowski for recommending unsuitable investments in inverse and inverse-leveraged Exchange Traded Funds to his clients. On December 23, 2010 RBC Capital Markets, LLC filed a Termination Notice (U5) stating that Zukowski had failed to meet firm expectations. Later, on August l8, 2011, RBC filed a an…

The Financial Industry Regulatory Authority (FINRA) alleged that Feltl & Company, a firm based in Minneapolis, did not properly oversee its penny stock business between January 2008 and February 2012. While Feltl did not admit to any wrongdoing, the firm will pay $1 million to settle its claims. FINRA explained that Feltl did not meet…

Newport Coast Securities, based in New York, as well as two former supervisors at the firm, Marc Arena and Roman Luckey, were also named in the FINRA complaint. According to FINRA, from 2008 through 2013, brokers Douglas Leone, Andre LaBarbera, David Levy, Antonio Costanzo and Donald Bartelt churned the accounts of 24 customers, utilizing margin…

Stockbroker arbitration lawyers are looking into accusations made against First Allied Securities, Inc. and broker Rami Yahalom regarding risky investments in AE Luxtera Investments II, LLC, a private technology start-up company. According to reports of a FINRA arbitration claim filed by investors, First Allied and Yahalom offered Luxtera to customers without disclosing sufficient information regarding…

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…

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…

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…