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So far Richard Frankowski has created 573 blog entries.

Delaware Court Awards $148M In Damages, Finds Dole Food Company Directors Liable

The Delaware Court of Chancery found David Murdock and C. Michael Carter liable under the entire fairness standard. Murdock is Dole Food Company Inc.'s Chairman and CEO, and Carter is a director of the company and its President, Chief Operating Officer, and General Counsel. The two were found to have driven down Dole's stock price before a merger in which Murdock took Dole private and to have undermined the work of a special committee organized to evaluate Murdock's proposal. The court awarded $148 million in damages. The court also found, however, that Deutsche Bank, Murdock's financial advisor and lender, was not liable on an aiding and abetting claim. In order to ready Dole for Murdock's freeze-out plans, Carter attempted to depress Dole's stock price by knowingly furnishing the market with a "subterranean" estimate of Dole's estimated cost savings regarding another transaction and by abolishing a stock repurchase program. Murdock then gave his first proposal of $12.00 a share to Dole's [...]

By |September 1st, 2015|Fraud, Press Releases & News|
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Former Brokers Bring $20M Whistleblower Suit Against Morgan Stanley

Jaime Feldman and her husband, James Boland, a couple of ex-Morgan Stanley brokers in the firm's midtown Manhattan branch, have sued Morgan Stanley and the branch manager for $20 million in damages, claiming that they were retaliated against and wrongfully terminated after they blew the whistle on alleged fraudulent activity and securities law violations at the branch. Feldman and Boland were fired in 2011 with Morgan Stanley claiming they did not meet performance requirements. The couple, however, argue that any performances issues were pretext for terminating them after they made a series of allegations against the firm. They allege that the branch had unlicensed trainees making cold calls to prospects with misleading scripts, brokers were changing client risk profiles, and advisers were working from home without proper supervision. According to the complaint, interns and trainees at the Morgan Stanley branch were calling people at large corporations, including Pfizer and Verizon, who were close to retiring and had 401(k) plans with [...]

By |August 31st, 2015|FINRA, Press Releases & News|
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Texas Attorney General Pleads Not Guilty In Securities Fraud Case; His Attorney Withdraws

Ken Paxton, Texas' attorney general, pleaded not guilty to securities fraud charges yesterday. During the hearing, he also asked the judge to bar cameras from ensuing hearings, and his attorney withdrew from the case. Opinions on Texas' top law enforcement officer, who will not step down from office, are split. Tea party activists who back Paxton claim he is the victim of a political conspiracy; democrats, on the other hand, accuse him of demanding special treatment. Paxton has been charged with two counts of securities fraud stemming from accusations that in 2011, while Paxton was a state legislator, he misled investors in a tech startup which paid him for bringing in new shareholders. One of his fellow Republican legislators is among those he allegedly deceived. Paxton's lawyer, former federal judge Joe Kendall, surprisingly proclaimed during the hearing that he was withdrawing from the case as Paxton's attorney. In the accompanying motion filed with the court, Kendall explained that recent differences [...]

By |August 28th, 2015|Fraud, Press Releases & News|
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Former Tibetan Monk Accused Of Fraud

The SEC accused Lobsang Dargey, a former Tibetan monk and now real estate developer, of siphoning almost $18 million from Chinese investors who sent him $125 million, seeking residency under a visa program. The SEC has since frozen Dargey's assets and the assets of his "Path America" companies. The SEC's civil complaint states that Dargey and his partners "fraudulently raised at least $125 million through their sales of securities to 250 investors and collected at least $11 million in additional fees." Dargey allegedly had each of his investors send $500,000 to an offshore bank and $45,000 in "administrative fees" to U.S. accounts. The SEC further claims that Dargey spent $14.7 million of that money on unrelated projects and took $3 million for himself, including $2.5 million that he used to pay for a house and $350,000 he gambled away. Dargey and his companies sold securities to Chinese investors, apparently for a farmer's market and mixed-use commercial and resident development in a [...]

By |August 27th, 2015|Fraud, Press Releases & News, SEC|
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Disclaimer: Mr. Frankowski is licensed in Alabama,Florida and Texas. He is not licensed in any other state including Nevada and California. Mr. Frankowski has represented investors from all over the country in securities cases including: Alabama, California, Colorado, Florida, Georgia, Illinois, Kentucky, Louisiana, Mississippi, Nevada, New Mexico New York, North Carolina, Tennessee, Texas.