Corporate & Securities Law

SEC Charges Five Former San Diego Officials With Securities Fraud For Inadequate Municipal Securities Disclosures

Posted on April 10, 2008
The SEC has filed securities fraud charges against five former San Diego city officials who played key roles in the city's inadequate municipal securities disclosures in 2002 and 2003. The SEC charged the former officials for failing to disclose to...

SEC Charges Five Former San Diego Officials With Securities Fraud For Inadequate Municipal Securities Disclosures

Posted on April 10, 2008
The SEC has filed securities fraud charges against five former San Diego city officials who played key roles in the city's inadequate municipal securities disclosures in 2002 and 2003. The SEC charged the former officials for failing to disclose to...

Bond Funds, Especially Those Invested In Mortgage-Backed Securities, Continue To Suffer Significant Losses

Posted on April 09, 2008
If gyrating stock mutual funds haven't been enough to make investors queasy, many bond funds have swooned, too. A fifth of all investment grade U.S. taxable bond funds tracked by Morningstar are in the red. Bonds are supposed to be...

Bond Funds, Especially Those Invested In Mortgage-Backed Securities, Continue To Suffer Significant Losses

Posted on April 09, 2008
If gyrating stock mutual funds haven't been enough to make investors queasy, many bond funds have swooned, too. A fifth of all investment grade U.S. taxable bond funds tracked by Morningstar are in the red. Bonds are supposed to be...

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Auction Rate Securities Present A "Hotel California" Nightmare For Investors

Posted on April 04, 2008
Investors have discovered Wall Street?s version of the Hotel California: they have ?checked in? to an investment that they cannot leave. Since mid-February, a significant number of auctions (70% according to Thestreet.com) in ?auction rate securities? have failed, leaving the...

Auction Rate Securities Present A "Hotel California" Nightmare For Investors

Posted on April 04, 2008
Investors have discovered Wall Street???s version of the Hotel California: they have ???checked in??? to an investment that they cannot leave. Since mid-February, a significant number of auctions (70% according to Thestreet.com) in ???auction rate securities??? have failed, leaving the...

SNSFE Investigating Morgan Stanley (Multi-Financial and NEXT Financial) Brokers John Mullins and Kathleen Mullins of New Jersey

Posted on April 01, 2008
Attorneys at SNSFE are investigating a broker who misappropriated almost $400,000 from a 97-year-old widow and her charitable foundation. According to FINRA, the Financial Industry Regulatory Authority, it has charged registered representative John Edward Mullins, of Margate, NJ, with misappropriating...

SNSFE Investigating Morgan Stanley (Multi-Financial and NEXT Financial) Brokers John Mullins and Kathleen Mullins of New Jersey

Posted on April 01, 2008
Attorneys at SNSFE are investigating a broker who misappropriated almost $400,000 from a 97-year-old widow and her charitable foundation. According to FINRA, the Financial Industry Regulatory Authority, it has charged registered representative John Edward Mullins, of Margate, NJ, with misappropriating...

SNSFE Investigating Harbor Financial Services And James Kleinkopf Of Mobile, Alabama

Posted on March 28, 2008
Attorneys at SNSFE are investigating Harbor Financial Services and its registered representative, James Kleinkopf of Mobile, Alabama. The investigation revolves around excessive trading and unsuitable investments in the account of at least one elderly person...

SNSFE Investigating Harbor Financial Services And James Kleinkopf Of Mobile, Alabama

Posted on March 28, 2008
Attorneys at SNSFE are investigating Harbor Financial Services and its registered representative, James Kleinkopf of Mobile, Alabama. The investigation revolves around excessive trading and unsuitable investments in the account of at least one elderly person...

SNSFE Investigating Complaints Regarding Auction Rate Securities, Liquidity Concerns And Inappropriate Margin Loans

Posted on March 24, 2008
Attorneys at SNSFE are investigating abuses in auction rate securities as disgruntled investors cannot cash out of these investments. Auction rate securities, or ARS, are long-term municipal bonds, corporate bonds or preferred stocks that are traded at auctions that set...

SNSFE Investigating Abuses With Reverse Mortgages In Light Of FINRA Investor Alert

Posted on March 21, 2008
Attorneys at SNSFE are investigating the suitability of reverse mortgages for senior investors. FINRA, the Financial Industry Regulatory Authority has issued an Investor Alert urging homeowners over the age of 60 to carefully weigh all of their options before tapping...

Some Firms Not Honoring Their Obligation To Return Money To VRDN Investors, And SNSFE Is Investigating

Posted on March 11, 2008
Financial Week has reported that money funds are dumping variable-rate notes that banks must honor. The latest securities acronym to hit a snag are VRDNs. The $380 billion market for variable rate demand notes has seen them dumped en masse...

Some Firms Not Honoring Their Obligation To Return Money To VRDN Investors, And SNSFE Is Investigating

Posted on March 11, 2008
Financial Week has reported that money funds are dumping variable-rate notes that banks must honor. The latest securities acronym to hit a snag are VRDNs. The $380 billion market for variable rate demand notes has seen them dumped en masse...

SNSFE Investigating London-Based Hedge Fund CSO Partners

Posted on February 27, 2008
SNSFE is investigating the London-based fund CSO Partners after Citigroup has suspended investor withdrawals from it. This $500 million credit hedge fund has lost 10 percent since November and the manager has resigned. Investor redemptions have been suspended so that...

SNSFE Investigating London-Based Hedge Fund CSO Partners

Posted on February 26, 2008
SNSFE is investigating the London-based fund CSO Partners after Citigroup has suspended investor withdrawals from it. This $500 million credit hedge fund has lost 10 percent since November and the manager has resigned. Investor redemptions have been suspended so that...

SNSFE Continuing To Investigate Illinois Resident Robert Loffredi, Raymond Financial Group And Linsco Private Ledger After SEC Bars Loffredi From Securities Industry

Posted on February 26, 2008
In connection with its continuing investigation of Hinsdale, Illinois-based adviser Robert Loffredi, SNSFE reports that on February 22, the Securities and Exchange Commission issued an Order Instituting Administrative Proceedings against Robert Loffredi...

SNSFE Continuing To Investigate Illinois Resident Robert Loffredi, Raymond Financial Group And Linsco Private Ledger After SEC Bars Loffredi From Securities Industry

Posted on February 26, 2008
In connection with its continuing investigation of Hinsdale, Illinois-based adviser Robert Loffredi, SNSFE reports that on February 22, the Securities and Exchange Commission issued an Order Instituting Administrative Proceedings against Robert Loffredi...

Lancer Group Hedge Fund Manager Michael Lauer And Others Indicted For Fraud And Conspiracy

Posted on February 25, 2008
Former Lancer Group hedge fund manager Michael Lauer and four others who defrauded hedge fund investors of more than $200 million have been indicted on conspiracy and wire fraud charges, the U.S. Justice Department has reported. "Lauer was named in...

Lancer Group Hedge Fund Manager Michael Lauer And Others Indicted For Fraud And Conspiracy

Posted on February 25, 2008
Former Lancer Group hedge fund manager Michael Lauer and four others who defrauded hedge fund investors of more than $200 million have been indicted on conspiracy and wire fraud charges, the U.S. Justice Department has reported. "Lauer was named in...

SNSFE Investigating Former A.G. Edwards Broker Luis Cespedes For Selling Unsuitable Investments Following NYSE's 10 Year Suspension

Posted on February 18, 2008
Attorneys at SNSFE are investigating a broker who has been barred for 10 years by the New York Stock Exchange. The New York Stock Exchange announced last week that it had banned Luis Miguel Cespedes who worked for A.G. Edwards...

SNSFE Investigating Former A.G. Edwards Broker Luis Cespedes For Selling Unsuitable Investments Following NYSE's 10 Year Suspension

Posted on February 18, 2008
Attorneys at SNSFE are investigating a broker who has been barred for 10 years by the New York Stock Exchange. The New York Stock Exchange announced last week that it had banned Luis Miguel Cespedes who worked for A.G. Edwards...

SNSFE Investigating Broker Miah And Square Mile Securities For High Pressure Sales Tactics

Posted on February 15, 2008
The Financial Services Authority of Britain has banned a stockbroker for life after he abused the trust of some of his clients. The stockbroker sold high-risk stocks to unwitting customers, including two retirees over the age of 80. He's been...

SNSFE Investigating Broker Miah And Square Mile Securities For High Pressure Sales Tactics

Posted on February 15, 2008
The Financial Services Authority of Britain has banned a stockbroker for life after he abused the trust of some of his clients. The stockbroker sold high-risk stocks to unwitting customers, including two retirees over the age of 80. He's been...

Securities Regulator Provides Guidance Regarding The Review And Supervision Of Electronic Communications

Posted on February 13, 2008
FINRA (the Financial Industry Regulatory Authority) has issued Regulatory Notice 07-59 relating to electronic communications, such as email, instant messaging, text messaging, weblogs and podcasting, which financial services firms and their employees may use to conduct business...

Securities Regulator Provides Guidance Regarding The Review And Supervision Of Electronic Communications

Posted on February 12, 2008
FINRA (the Financial Industry Regulatory Authority) has issued Regulatory Notice 07-59 relating to electronic communications, such as email, instant messaging, text messaging, weblogs and podcasting, which financial services firms and their employees may use to conduct business...

SNSFE, As Well As A Host Of State And Federal Authorities, Probe Subprime Mortgage-Related Investments And Related Conduct

Posted on February 08, 2008
Attorneys at SNSFE continue to investigate investment losses related to subprime mortgage investments. But the probe is widening in a criminal and civil sense. In today's news, there is a listing of a sampling of investigations of financial firms over...

SNSFE, As Well As A Host Of State And Federal Authorities, Probe Subprime Mortgage-Related Investments And Related Conduct

Posted on February 08, 2008
Attorneys at SNSFE continue to investigate investment losses related to subprime mortgage investments. But the probe is widening in a criminal and civil sense. In today's news, there is a listing of a sampling of investigations of financial firms over...

SNSFE Investigating Relationship Between Wood River Endwave Stock And Various Brokerage Firms Including UBS Dain Rauscher, Fidelity, And Stifel, Nicolaus

Posted on February 06, 2008
It appears that numerous brokerage firms across the country held Endwave Corporation stock through the Wood River Limited Partnership offerings. Wood River and John Whittier are the subject of a pending Southern District of New York bankruptcy action...

SNSFE Investigating Relationship Between Wood River Endwave Stock And Various Brokerage Firms Including UBS Dain Rauscher, Fidelity, And Stifel, Nicolaus

Posted on February 06, 2008
It appears that numerous brokerage firms across the country held Endwave Corporation stock through the Wood River Limited Partnership offerings. Wood River and John Whittier are the subject of a pending Southern District of New York bankruptcy action...

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