Stock Market Fraud Attorneys Blog

Representing Investors Nationwide

February 14, 2016

Over the past several months, individual investors have been reporting significant losses in oil, gas and commodity related investments solicited and sold by their financial advisors. Because these investments, particularly when held in concentrated positions, are very volatile they pose serious risk to portfolios.

One of the more popular investment vehicles, the investments that are now creating significant investor losses are called leveraged Master Limited Partnership (MLP).  MLPs... Read More

February 10, 2016

Yesterday, Morgan Stanley agreed to pay $3.2 billion to resolve claims that it misled investors about mortgage-backed securities before the financial crisis, according to New York state Attorney General Eric Schneiderman.

This is the most recent settlement by a banking giant related to the financial crisis, and ends government claims that Morgan Stanley misrepresented to investors the mortgages it packaged into mortgage backed securities including proprietary high-yield mutual funds,... Read More

February 04, 2016

Yesterday, Well Fargo & Co. announced the banking giant had reached a $1.2 billion settlement with the U.S. government over allegations that it defrauded the Federal Housing Administration. The San Francisco based bank said in an SEC filing that a deal in principal had been reached to resolve the fraud claims, involving the submission of non-conforming loans, levied against it.

Wells Fargo said that the settlement, if finalized, would resolve claims related to mortgages it issued... Read More

February 02, 2016

Today, Citigroup reached a $23 million settlement in a class action suit alleging Citi and other major banks conspired to fix yen-denominated Libor interest rates.  Observers believe is the first of many deals to be struck in the case.  On Monday, lawyers for a group of investors asked a judge to approve the proposed settlement with Citigroup Inc. and its subsidiaries. As these are the first deals to be struck, they are considered to be "ice breakers."  The case originated from a global... Read More

January 27, 2016

Yesterday, Bond insurer Ambac Financial Group, Inc. stated JP Morgan Chase & Co. agreed to pay $995 million to settle all claims against the lender over toxic residential mortgage-backed securities (RMBS).  In a statement, Ambac President and CEO Nader Tavakoli said the deal would have a positive impact on Ambac’s fourth quarter 2015 operating results, along with its claims paying resources. 

Representatives for JPMorgan did not immediately respond to a request for comment.... Read More

January 25, 2016

After a turbulent an downward spoke in the oil markets, UBS has decided to close two of its Exchange Traded Notes (ETN) problems. The two ETNs being shuttered are the ETRACS 2x Monthly Leveraged Long Alerian MLP Infrastructure ETN (Ticker: MLPN) and the ETRACS 2x Monthly Leveraged S&P MLP Index ETN (NYSEARCA: MLPV).

According to the UBS website, "the ETRACS 2xMonthly Leveraged Long Alerian MLP Infrastructure Index is designed to track a leveraged investment in the... Read More

January 25, 2016

FINRA is an independent nonprofit organization that has been authorized by Congress to ensure investors are protected against stock market fraud. FINRA handles over 99% of all securities related arbitrations and mediations, and is able to take disciplinary action against individuals and firms that engage in unfair practices or unethical behavior. The stock fraud attorneys at Colling Gilbert Wright & Carter have litigated hundreds of FINRA arbitration claims and successfully recovered... Read More

January 13, 2016

RBS economists have urged investors to sell everything except high-quality bonds, warning of a cataclysmic year ahead for the financial markets. In a memo to clients, the bank's European rates research team stated clients should be concentrating on return of capital, not return on capital, and that an ominous outlook to the world economy saying that it looks similar to 2008.

The Key Points in the note to RBS clients include:

Bearish on China and global commodities. They predict... Read More
January 11, 2016

The Financial Industry Regulatory Authority (FINRA) barred (AWC No. 20150454876-01) former PFS Investments, Inc. (PFS Investments) broker Malcolm J. Babin after the broker failed to respond to a letter from the regulator requesting information to aid their investigation. While BrokerCheck records kept by FINRA do not disclose the nature of the regulatory inquiry, in May 2015, Babin was permitted to resign from PFS Investments stating that the broker was terminated for 1) being involved in a... Read More

January 06, 2016

The Financial Industry Regulatory Authority (FINRA), yesterday, announced plans to assess whether adhering to securities regulations is part of a firm's culture when conduction firm compliance and risk management examinations this year. Other areas for increased FINRA scrutiny include conflicts of interest in the sale of proprietary products and products the firm is paid to sell, technology, anti-money laundering and firm liquidity.

While not trying to impose a specific culture, when... Read More