Broker-Dealer Losses Yet Another Investor Claim Involving Its Yield Enhancement Strategy A Financial Industry Regulatory Authority arbitration panel has awarded investors $1.34M, including punitive damages, for losses sustained in the UBS Yield Enhancement Strategy. This is the latest award related to UBS Financial’s complex options trading strategy that has cost…
Broker-Dealers Sold Private Placement Shares In Texas Luxury Student Housing To Retail Customers, Including Retirees Our Texas brokerage firm of investment lawyers and arbitration attorneys are looking into claims of losses involving Nelson Partners’ Skyloft Austin investors. Many of those who invested in this troubled luxury student housing building close…
Firm Accused of Inadequate Training And Poor Supervision of Brokers That Sold YES UBS Financial Services has consented to pay about $25M to settle US Securities and Exchange Commission (SEC) charges related to the firm’s Yield Enhancement Strategy (YES). The regulator contends that the broker-dealer, which marketed and sold $2B…
Structured Products Are Not Suitable for Most Retail Investors Investment Lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) are looking into claims of losses involving JPMorgan Chase Auto Callable Contingent Interest Notes. Which is connected to the S&P GSCI® Crude Oil Index Excess Return (SPGCCLP). This index tends to…
Hiko, Nevada Financial Advisor, BL Whipple Wealth Management, LLC Three investors have filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against Newbridge Securities. The claimants seek up to $1M in damages over losses they sustained in GWG L Bonds. These risky, illiquid junk bonds are from GWG Holdings, Inc.,…
Cetera and Other Broker-Dealers May Have Unsuitably Sold St. George’s Ltd Products to Customers Our broker misconduct lawyers are looking into claims of losses by investors who were marketed and sold products from St. George’s, Ltd. The Bermuda-based life insurance company has been in liquidation proceedings since 2019. Its owner,…
Latin American Investor Pursuing Up to $500K in Northstar Financial Services (Bermuda) Damages An older Latin American investor who was unsuitably recommended and sold a Northstar Financial Services (Bermuda) product is requesting up to $500K in damages from Ocean Financial Services. The claimant, who initially just had accounts at Ocean…
Cetera Broker-Dealer Unsuitably Recommended Non-Traded REITs to Retired Couple Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm at investorlawyers.com) and Menzer & Hill, PA, are pleased to announce that a Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded our clients a $2.6M award against First Allied Securities. This…
Texas-Based GWG Holdings and its Directors Are Defendants in Class-Action Lawsuit Two investors seeking class-action status have filed a lawsuit against GWG Holdings, Inc. (NASDAQ: GWGH). They are accusing the Texas-based alternative asset manager and investor of life settlements, as well as its directors, of making misrepresentations and omissions in…
California Retiree Was Unsuitably Recommended Illiquid, Risky Investments An elderly Los Angeles investor has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against FSC Securities Corporation over investment losses suffered. He was unsuitably recommended certain high-risk investments, including Northstar Healthcare Income REIT (also known as Northstar Healthcare REIT) and…