FINRA TO LAUNCH NEW ARBITRATION PROGRAM
According to a recent Reuters.com article, July 2, 2012 will be the launch date for a new FINRA program that will allow more flexibility in large arbitration cases. The new program will be for claims $10 million dollars or more and allow them to shape their cases and bypass some of the FINRA arbitration rules, […]
SEC CHARGES ASTROLOGER IN PONZI SCHEME
According to a Business Standard.com article, former broker Gurudeo Persaud based investments off the lunar cycle. Persaud used an internet site that made market predictions based off gravitational pull and the lunar cycle to decide how to invest for his clients. The article also reported that of the approximately $1.1 million dollars he received from investors, Persaud used […]
GOLDMAN SACHS DISCLOSURE FRAUD CASE TO CONTINUE
A Federal District Court Judge in Manhattan refused to dismiss the investor lawsuit alleging that Goldman Sachs made misleading statements regarding its ethical standards, the New York Times’ Dealbook reported. The alleged misleading statements and disclosures were about conflict of interests between Goldman Sachs and other companies. The article discussed one such example, a deal […]
ARBITRATORS ORDER MORGAN KEEGAN TO REPAY OVER $470,000 TO INVESTORS
Morgan Keegan must repay over $470,000 in financial losses of a group of RMK Fund investors, according to the June 13, 2012 Order of an arbitration panel of the Financial Industry Regulatory Authority (FINRA). The three person arbitration panel heard the case in Birmingham, AL. The Claimants are among thousands of investors who lost money […]
BURKE HARVEY & FRANKOWSKI INVESTIGATE ALPHA NATURAL RESOURCES
The Frankowski Firm, LLC announces the commencement of an investigation into Alpha Natural Resources, Inc. (“ANR” or the “Company”) (NYSE: ANR) to determine whether it has violated securities laws by allegedly issuing false and misleading statements with respect to ANR’s June 1, 2011 Merger with the former Massey Energy Co. (“Massey”). After the Merger was […]
SEC AND FINRA INTRODUCE ADJUSTMENTS TO US TRADING CURBS
The SEC approved two proposals to alter trading curbs meant to curtail volatility in the U.S. stock market, according to a Bloomberg.com article. A limit-up/limit-down system that prevents trades at prices outside a specified band has been approved. The article stated that also the SEC has supported changes to broaden circuit breakers instituted after the 1987 market crash. […]
11TH CIRCUIT REINSTATES SEC’S FRAUD CLAIM AGAINST MORGAN KEEGAN
Atlanta Investment Fraud Attorneys At The Frankowski Firm, we stand as a beacon of trust and advocacy for investors who have been victimised by unethical brokers or investment advisors. With a steadfast commitment to justice, our seasoned Atlanta investment fraud law firms tirelessly advocate for investors, both small and large, who have suffered financial losses due to […]
THE VOLCKER RULE AND RESTRICTING BANKS
The Volcker Rule restricts the ability of federally insured banks to trade for their own benefit, according to this article in the New York Times. The article states that with the large losses by banks in the trading of financial securities, especially mortgage-backed assets, there has been a push for more federal regulations. The Volcker Rule is […]
SEC OPENS INVESTIGATION INTO JP MORGAN’S 2 BILLION DOLLAR LOSS
The SEC has opened a preliminary investigation into the accounting practices of JP Morgan as well as into the company’s public disclosures about their trading, according to an article in the New York Times. According to the article, JP Morgan’s revised value-at-risk measure could be a focus of the investigation. The company disclosed earlier this […]
MORGAN STANLEY FACING INVESTIGATION OVER DOWNGRADE OF FACEBOOK
According to a recent Atlantic Wire article, Morgan Stanley, JP Morgan and Goldman Sachs, the three banks that underwrote the Facebook IPO, all downgraded their IPO forecasts. Even more troubling is that the banks appear to have passed that information along to only a handful of institutional investors, without sharing it on a wider basis. […]