Broker Misconduct

Moody National REIT II Investors May Have Grounds For Stockbroker Misconduct Claims

Published on: June 25, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Did Brokers Recommend This Unregistered Security Because of High Commissions?

Investors who backed Moody National REIT II, a nontraded real estate investment trust, are now grappling with losses sustained after this investment significantly plunged in value and the company’s public offering and distribution payments were suspended.

Nontraded REITs, which are very high risk, are not for every investor, and yet the 7% commission the REIT paid stockbrokers may have been incentive enough to recommend them to customers even when they weren’t in the latter’s best interests.

Elderly Retiree Claims Sheppard Mosher advisor Jason Mosher Overconcentrated His IRA With GPB Private Placements

Published on: June 11, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Investor Sues Kalos Capital Over GPB Capital Losses

A widower retiree in his eighties is suing Kalos Capital for losses he suffered in GPB Capital Holdings’ private placements and other risky investments that were recommended to him by Kalos broker, Jason Mosher.

The claimant contends that Mosher, who operates his business under the name Sheppard Mosher but is an employee of Kalos, overconcentrated his IRA in GPB investments and other risky securities including private Real Estate Investment Trusts (REITs) and privately traded securities. Now, this elderly investor is seeking up to $500K in damages.

Retiree Couple’s UBS YES Strategy Lawsuit Seeks Up to $1M in Damages and Losses

Published on: June 10, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Claimants Lose Retirement Funds in Complex Options Trading Strategy

A retired couple is suing UBS Financial Services (UBS) after they sustained at least $800,000 in losses from investing in the firm’s Yield Enhancement Strategy (YES).

The investors contend that their UBS broker made misrepresentations and omissions when recommending this unsuitable investment strategy to them and discouraged them from leaving the YES program even as their losses mounted. Now, the investors are seeking up to $1,000,000 in damages, losses, and other costs.

Shepherd Smith Edwards & Kantas Investigates Financial Advisors That Recommended AMLP and Other Oil & Gas Master Limited Partnerships

Published on: June 9, 2020 | by Shepherd Smith Edwards & Kantas, LLP

SSEK Investigating Financial Advisor That Recommended Unsuitable MLPs To Investors

Shepherd, Smith, Edwards & Kantas, a law firm specializing in representing wronged investors, is looking into allegations against financial advisors that concentrated their clients in Alerian MLP ETF (“AMLP”) and other oil & gas related master limited partnerships (“MLPs”) amid the significant downturn in oil prices since February.

What Is The AMLP Fund?

Did You Suffer Investment Losses? How a San Francisco Broker Fraud Lawyer Can Help

Published on: May 27, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Throughout the San Francisco Bay Area, investors are finding themselves hit with huge investment losses, especially over the last few months as COVID-19 has shut down the economy, rattled the markets, and caused an oil price war.

While the Coronavirus has negatively impacted many investments, you should know that some of these losses also may be due to broker fraud or negligence. Shepherd Smith Edwards and Kantas (SSEK Law Firm) can help you determine whether this is the case and if it means that you have grounds for an investor claim to recover your losses. Contact us today to request your free, no-obligation consultation.

Investment Losses Reasons That May Be Grounds for a San Francisco Broker Fraud Claim

Top Warning Signs of Senior Investor Fraud that You Need to Be Aware of

Published on: May 20, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Many Older Investors Remain Vulnerable to Securities Fraud

As a retiree or a senior investor living in the San Francisco Bay Area, there are red flags to look out for that may indicate that you’ve become the victim of senior investor fraud.

Unfortunately, older investors remain a favorite target of fraudsters eager to take advantage of an elderly customer’s inexperience or health issues while availing themselves of the latter’s retirement funds and other savings.

Securities Fraud In San Francisco: How You Can Protect Yourself

Published on: May 13, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Becoming the victim of securities fraud in San Francisco can lead to devastating financial losses and there are steps that you can take to prevent that from happening. Even if your broker is registered with a known brokerage firm, there are questions you should ask and due diligence you can do to protect yourself and your investments.

How To Protect Yourself Against Securities Fraud

Below, we discuss the steps you need to put in place to ensure that you are fully protected when dealing with a broker or brokerage firm based in San Francisco.

First Allied Securities Broker William Fox Accused of Making Unsuitable Alternative Investments Recommendations

Published on: April 29, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Texas Stockbroker Purportedly Earned High Commissions From Illiquid Alternative Investments

If you are an investor who was sold alternative investments by First Allied Securities broker William Fox, you may have grounds for an investor claim. Fox, an Austin, TX-based registered representative, has been accused by at least one customer, who already filed a Financial Industry Reguinveslatory Authority (FINRA) claim, of not performing the proper due diligence before recommending that the claimant invest over $2M in retirement funds in illiquid, poor quality alternative investments.

This included nontraded real estate investment trusts (nontraded REITs), annuities, private placements, equipment leasing, and oil and gas investments. The sale of these investments to the claimant resulted in Fox earning $140K in commissions and an investment advisory fee.

Market Volatility Caused by COVID-19 Negatively Impacts Leveraged ETNs & Inverse ETPs

Published on: April 13, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Inverse and Leveraged ETNs and ETFs Are Shuttering

As the novel coronavirus (COVID-19) continues to adversely affect the markets and cause crude oil prices to drop, the number of inverse and leveraged exchange-traded notes (ETNs), exchange-traded funds (ETFs) and exchange-traded products (ETPs) involving crude oil that have been forced to close, delist, or automatically accelerate continues to grow and this has caused more losses for investors.

Right now, our broker fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) are working with leveraged and inverse ETF and ETP investors throughout the US to help them explore their legal options.

Shepherd Smith Edwards and Kantas Investigates Investor Claims Involving Ex-Stifel Nicolaus Broker Steven Rodemer

Published on: April 9, 2020 | by Shepherd Smith Edwards & Kantas, LLP

FINRA Bars Fired Stifel Broker

The Financial Industry Regulatory Authority (FINRA) announced that it has permanently barred former Stifel Nicolaus (SF) stockbroker Steven Dale Rodemer. The brokerage firm fired Rodemer earlier this year following allegations that he took funds from one client’s account without authorization.

Even with COVID-19 disrupting every aspect of our lives, the self-regulatory organization (SRO) continues to issue disciplinary actions against brokers accused of misconduct. Here, at Shepherd Smith Edwards and Kantas (SSEK Law Firm), our broker fraud attorneys also remain hard at work going after the stockbrokers and their firms whose fraudulent or negligent actions contributed to unnecessary investor losses.