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…
Continue reading ›Investment fraud lawyers are currently investigating claims on behalf of investors who suffered significant losses in non-traded real estate investment trusts, or non-traded REITs, in light of an investigation that is now underway by the Pennsylvania Department of Banking and Securities. Reportedly, Pennsylvania regulators are currently looking into non-traded REIT sales conducted by Securities America…
Continue reading ›Securities fraud attorneys are currently investigating claims on behalf of investors who suffered significant losses in variable annuities. Variable annuities are insurance products tied to an investment portfolio, which typically consist of mutual funds that hold bonds and stocks. In many cases, brokers receive commissions as high as 8 percent when selling variable annuities, which…
Continue reading ›Investment fraud lawyers are currently investigating claims on behalf of investors who suffered significant losses as a result of a securities fraud related to scalping. Scalping occurs when a broker or financial advisor recommends a security and immediately sells the security to turn a profit. According to securities arbitration lawyers, when many investors purchase the…
Continue reading ›Our recent blog post, “Berthel Fisher and Affiliate Fined Regarding Sales of ETFs and Non-Traded REITs,” reported that in February the firm had been fined $775,000 by the Financial Industry Regulatory Authority (FINRA). The FINRA fines addressed alleged supervisory failures, including failure to properly supervise the sale of alternative investments like leveraged and inverse exchange-traded…
Continue reading ›Securities fraud attorneys are investigating claims on behalf of customers of LPL Financial LLC. This move comes on the heels of an announcement on March 24, 2014 from the Financial Industry Regulatory Authority (FINRA) which stated that the firm had been fined $950,000 for supervisory failures related to alternative investment sales. These investments included: For…
Continue reading ›Investment fraud lawyers are currently investigating claims on behalf of investors who suffered significant losses in mortgage-backed securities. The investigations are concerning full-service brokerage firms that may have failed to properly supervise their traders and/or gave false pricing information to investors. Recently, Jefferies LLC agreed to settle charges with the Securities and Exchange Commission (“SEC”)…
Continue reading ›Securities fraud attorneys are currently investigating claims on behalf of investors who suffered significant losses as a result of doing business with Douglas Guarino, Lawrence Lee or Robert E. Lee and Rockwell Global Capital. The investigations are regarding fraud, unsuitable recommendations and churning that the three men allegedly conducted while registered with Rockwell Global Capital…
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