Articles Posted in investment attorney

On December 14, 2011, a class action lawsuit was filed against Bank of New York Mellon Corporation, also known as BNY Mellon, in the United States District Court of the Southern District of New York. The lawsuit was filed for the class period of February 28, 2008, to August 11, 2011. Investment attorneys are encouraging…

Investment attorneys are seeking investors who purchased variable annuities based on recommendations that were unsuitable and/or contradicted their investment goals. Because of the complicated nature of variable annuity contracts, many investors are uncertain of the risks or negative aspects associated with them. What are Variable Annuities? Variable annuities are popular investment vehicles for retirement; essentially,…

December 15, 2011, the Financial Industry Regulatory Authority (FINRA) announced its decision to fine Wells Fargo Investments LLC for “unsuitable sales of reverse convertible securities through one broker to 21 customers, and for failing to provide sales charge discounts on Unit Investment Trust (UIT) transactions to eligible customers.” The fine totals $2 million; in addition,…

Following the recent notices sent by the Securities and Exchange Commission to Harbinger Capital, Philip Falcone, Omar Asali and Robin Roger, some investors of Harbinger Capital are seeking representation for possible securities arbitration claims. Philip Falcone, 49, is the manager of the New York-based hedge fund Harbinger Capital Partners LLC, which was valued three years…

Stock fraud lawyers are investigating potential claims for investors against China Automotive Systems Inc. A class action lawsuit was filed against China Automotive on October 25, 2011, in the United States District Court for the Southern District of New York. The lawsuit, which was filed against the company as well as several of its officers,…

Investment attorneys are seeking investors who purchased China Medical Technologies Inc. securities in connection with recent fraud allegations made against the company. Officers and directors of China Medical may have violated federal securities laws and, as a result, investors in the company may have a valid securities arbitration claim. China Medical, a Chinese company listed…

The alleged $110 million Inofin fraud has investment attorneys looking for investors who suffered losses as a result of their investments with Inofin. According to the Class Action Complaint filed by the Securities and Exchange Commission in April, 2011, Inofin was in violation of the Massachusetts Uniform Securities Act. The complaint has been filed against…

Stock broker fraud lawyers are investigating potential securities arbitration claims against LPL Financial and Jack Kleck, a former LPL broker. LPL Financial was fined $100,000 in late November for failure to adequately supervise Kleck. LPL was fined by the Oregon Department of Consumer and Business Services. Kleck, who was LPL Financial’s branch manager in La…

A common form of investment fraud is the selling of unregistered securities. In many cases, investors can recover their losses in securities arbitration. In short, unregistered securities are securities that have not been registered with the Securities and Exchange Commission (SEC). Before a stock, bond or note can be sold to the public, it must…

The Federal Housing Finance Agency (FHFA), acting as conservator for Fannie Mae and Freddie Mac, has filed securities lawsuits against a total of 17 financial entities in both federal and state courts. States in which the lawsuits were filed are New York and Connecticut. Financial institutions affected by the lawsuits, which were filed in September…