The securities arbitration lawyers at Colling Gilbert Wright & Carter are pleased to announce an award on behalf of their client against Well Fargo Advisors, LLC. in the amount of $66,000.00 plus arbitration fees. The complaint was filed with The Financial Industry Regulatory Authority (FINRA) and involved a recommended over concentration in the Oppenheimer Rochester Pennsylvania Municipal Fund Class C ("The Fund"). The Claimant asserted the following causes of action: unsuitability,... Read More
Stock Market Fraud Attorneys Blog
Representing Investors Nationwide
You depend on your stockbroker for vital information about your investments. If your broker does not live up to a fair level of honesty and full disclosure, it may be considered misrepresentation or omission. Any false or intentionally misleading statement made by a stockbroker designed to influence or manipulate a client is a violation of law, as is the intentional withholding of information for the same purpose.
Misrepresentation and omission can take on many different forms.... Read More
The Securities and Exchange Commission (SEC) is preparing a civil enforcement case against Merrill Lynch over investments that lost as much as 95% in value and was marketed in a way that one of the firm’s financial advisers called “borderline crooked."
The expected case against the brokerage arm of Bank of America (BOA) focuses on the risks of so-called structured notes which are securities custom-built by banks and brokerages out of options as well as other... Read More
One of the most common claims our stockbroker fraud attorneys handle are those that deal with the act of excessive trading. Excessive trading, also known as churning, occurs when unethical brokers who earn profits from each trade they make decide to make large numbers of stock trades on behalf of their clients simply to rack up fees, disregarding the consequences for their client.
Excessive trading probably seems pretty simple, but it can actually be hard to know if a broker is... Read More
Today, the Financial Industry Regulatory Authority (FINRA) announced it has fined Oppenheimer & Co. Inc. $2.25 million and ordered the firm to pay restitution of more than $700,000.00 to retail clients that lost money on the purchases of leveraged, inverse and inverse-leveraged exchange-traded funds (non-traditional ETFs). FINRA alleged the sales were done without reasonable supervision and that the non-traditional ETFs that were not suitable for those customers.
In August 2009,... Read More
On June 1, nine industry and trade groups filed a lawsuit in Texas federal court challenging the Department of Labor’s (DOL) fiduciary rule, saying the department overstepped its authority in making the rule and that the new regulations will harm retirement savers. The U.S. Chamber of Commerce, the Securities Industry and Financial Markets Association (SIFMA), the Financial Services Institute and five other national and local business groups filed the lawsuit, seeking an injunction to halt... Read More
Today, the 2nd Circuit Court of appeals Monday revived an antitrust lawsuit against sixteen giant banks, including Citigroup, JPMorgan Chase and Bank of America, alleging they conspired to rig the London Interbank Offered Rate better known as Libor.
The three-judge panel ruled that Manhattan U.S. District Judge Naomi Reice Buchwald was wrong when she dismissed the complaint against the banks on the grounds that the plaintiffs had failed to allege injury under antitrust law. The... Read More
Anyone who invests in the stock market has to expect to encounter losses from time to time. Investing is never a sure thing, and when a company fails to meet performance expectations, stock prices are bound to fall. However, there is also a potential for investors to suffer a loss dues to stock broker fraud or misconduct. If you have been the victim of stock broker fraud or misconduct, you need a qualified stock market attorney.Types of Stock Broker Misconduct
There are a variety of... Read More
You may not know that many credit card and loan agreements these days have in the small type what's called a "mandatory arbitration clause." Most people don't even know what that means. But by signing the agreement (contract), customers agree not to sue the financial firm in a class action lawsuit. Instead, they agree to work out any problem with an arbitrator hired by the bank. That may soon may be a thing of the past.
"The company can sidestep the legal system, avoid accountability... Read More
MetLife insurance has been fined $20 million by the Financial Industry Regulatory Authority (FINRA), Wall Street's policing body for misleading customers in switching them from variable annuities contracts into more expensive ones. Today, FINRA said the decision was its largest fine related to variable annuities, popular yet complex investments that have grabbed the attention of regulators in recent years. FINRA has taken hundreds of disciplinary actions against brokers and investment firms... Read More