Stock Market Fraud Attorneys Blog

Representing Investors Nationwide

November 23, 2015

Barclays Capital, Inc. has agreed to pay a $1 million fine to settle Financial Industry Regulatory Authority (FINRA)claims that the firm issued flawed data on a bond index it published and then failed to fix for months after discovering the problem.

 

According to FINRA complaint, Barclays' published inaccurate coupon return information for a bond index, known as the Pan Euro... Read More

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November 21, 2015

On Friday, the U.S. Securities and Exchange Commission (SEC) announced it may have a new proposal for implementing the Dodd-Frank Act’s limits on incentive compensation at financial institutions. The 2010 financial reform law mandated that the SEC, along with five other federal banking, credit union and housing regulators, implement rules that require banks and other financial institutions set up deferred compensation schemes that both reward executives for good conduct that both benefits... Read More

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November 18, 2015

Today Barclays PLC was handed an additional $150 million penalty by New York regulators and as part of the settlement, fire one of its top traders.  The actions comes over allegations that a system intended to block unprofitable foreign exchange trades was used to increase the giant UK bank’s profits at the expense of its clients.

This latest fine, levied by the New York Department of Financial Services (DFS), against the bank represents the second time that regulators have gone after... Read More

November 12, 2015

Puerto Rico doesn't’t look as if it’s on the verge of economic disaster. Tourists are still flocking to its beach resorts. Malls, anchored by department stores like Macy’s and JCPenney, are full of shoppers. At rush hour, roads are clogged with late-model luxury SUVs. But after years of borrowing to prop up the island’s stagnant economy, the Puerto Rican government faces $720 million in debt payments over the next two months and could run out of cash as... Read More

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November 06, 2015

Did Exxon Mobile mislead investors by misrepresenting the impact climate change could have on their shares? New York’s Attorney General, Eric Schneiderman, thinks so. Following a yearlong review of shareholder disclosures, a subpoena was sent on Wednesday to the Dallas-based company. Exxon acknowledges receiving the subpoena, but rejects the allegations that it misled investors.

In a statement released on Thursday, Exxon Vice President Ken Cohen was quoted as saying, “Beginning in the... Read More

November 04, 2015

Now defunct broker-dealer QA3 Financial Corp (QA3) can only seek up to $1 million in coverage under its professional liability policy with Catlin Specialty Insurance Co. for client claims tied to losses from certain high-risk investments, the Second Circuit affirmed yesterday, rebuffing the policyholder's efforts to tap a $7.5 million limit and leaving countless clients who purchase the high-risk alternative investments with no avenue of recourse.

QA3 Financial Corp. had contended... Read More

November 03, 2015

Yesterday, a former Wells Fargo Bank NA financial analyst allegedly gave improper stock tips to her boyfriend in advance of the near $400 million acquisition of American Dental Partners, Inc. by private equity firm JLL Partners, according to a suit filed by the U.S. Securities and Exchange Commission (SEC).

The SEC told a Massachusetts federal court that former Wells Fargo financial analyst Shirmila Doddi told her boyfriend, Vlad Spivak, about the impending deal a few weeks before it... Read More

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November 02, 2015

The SEC,on Friday,  passed long-awaited final rules on crowdfunding, setting the stage for startup companies to raise small amounts of capital online from mom-and-pop investors without the expense and hassles of a formal, registered offering.

The new rules, approved on a 3-1 vote with Republican Commissioner Michael Piwowar dissenting.  Among other things, the measures will let private companies raise up to $1 million over a 12-month period via crowdfunding, while capping the amount... Read More

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October 28, 2015

IBM announced on Tuesday that the U.S. Securities and Exchange Commission is conducting an investigation into how the company recognized revenue on “certain transactions.” While little else is known at this time, IBM stocks fell 3% after the announcement and some industry experts predict an even larger drop as the investigation continues.

According to a spokesman for IBM, "[IBM] has a rigorous and disciplined process for the preparation of its financial statements and the reporting of... Read More

October 28, 2015

This coming Friday, the SEC is set to finalize rules to let small companies raise money from individual investors through so-called "crowdfunding," but pressure on the agency to make the measures more palatable to issuers has left some concerned that the investors are the ones who will ultimately lose when the business ventures fail.

Announced yesterday, the vote on the final crowdfunding rules comes about three and a half years after Congress called for them as part of the Jump Start... Read More

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