Stock Market Fraud Attorneys Blog

Representing Investors Nationwide

April 06, 2016

The rules governing how financial services professionals handle trillions of dollars they invest on behalf of individuals saving for retirement are about to get significantly tougher.

The U.S. Department of Labor (DOL), just released its highly anticipated "fiduciary rule" today.  The rule will require financial... Read More

March 29, 2016

Andrew Caspersen, a former managing principal at financial services firm Park Hill Group, was arrested on Monday on charges of fraudulently soliciting investments. According to the charges, Caspersen made claims he had authority to conduct deals on behalf of Park Hill Group with an outside private equity fund. The fund, run by Caspersen, was a shell company named Irving Place Capital Partners III SPV. According to the charges, Caspersen named the company closely to trusted private equity... Read More

February 24, 2016

Alternative investments are often risker than traditional stocks and bonds, but may be recommended by a broker in order to diversify a portfolio and produce higher returns. Some examples of alternative investments include:

Hedge funds Start-ups Tenets in common Promissory notes Limited partnerships Asset protection programs Shares of privately held companies

Real estate investments and investments in real estate trusts may also be considered alternative investments.

Before a... Read More

February 24, 2016

Today, six banks, including UBS AG, Societe Generale SA and Natixis Funding Corp., have agreed to pay more than $100 million to settle private class action claims that they fixed prices and rigged bids for municipal derivatives, signaling a potential end to the multidistrict litigation in the area.
Under the proposed settlement, UBS will pay the largest portion, believed to be approximately $32 million, followed by Natixis, which has agreed to pay approximately $28.5 million. Societe... Read More

February 24, 2016

Late in 2015, the Financial Industry Regulatory Authority (FINRA) Dispute Resolution Task Force, a group formed solely for the purpose of systematically assessing and critiquing securities arbitration, released its Final Report and recommendations.  The report contains 51 individual recommendations designed to improve FINRA’s heavily-regulated dispute resolution program. Some recommendations offer specific details on implementation; others urge conceptual reform of a particular aspect of the... Read More

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