Current Investigations

Alternative Investment Lawyers

Published on: March 25, 2024 | by Shepherd Smith Edwards & Kantas, LLP

Did HJ Sims Run A Reg D Private Placement Offering Scam? Our Skilled Alternative Investment Lawyers Are Investigating

In an August 2022 Investor Bulletin, the US Securities and Exchange Commission’s (SEC) Office of Investor Education and Advocacy cautioned about the risks involving Regulation D private placements, which are exempt from the regulator’s registration requirements. Limited to accredited investors, they are sometimes also sold to retail investors, conservative retirees, and other unsophisticated investors for whom this kind of risky, illiquid investment is unsuitable.

Shepherd Smith Edwards and Kantas (investorlawyers.com) Alternative Investment Lawyers are currently investigating claims of losses related to Reg D offerings that were sold, often exclusively by brokerage firm Herbert J. Sims (HJ Sims). There are growing allegations that the broker-dealer may have allegedly fraudulently sold Reg D offerings, including to retail investors and older seniors.

Reg D Investment Attorneys

Published on: March 25, 2024 | by Shepherd Smith Edwards & Kantas, LLP

HJ Sims Marketed Exclusive Private Placements For The “Elite” Investor

Our Reg D Investment Attorneys Are Investigating Fraud Allegations

In marketing collateral from 2020, brokerage firm Herbert J. Sims (HJ Sims) touted its private placements, most of them available only through the firm, as a way for sophisticated investors seeking “higher yielding” opportunities to create income. Unfortunately, for many of those who went ahead and got involved in HJ Sims Regulation D offerings, profit has not been the outcome. Instead, many may have sustained significant losses, including retail investors and retirees for whom these private placement bonds were always unsuitable.

Securities Arbitration Attorneys

Published on: March 25, 2024 | by Shepherd Smith Edwards & Kantas, LLP

What Should You Expect When Filing A FINRA Lawsuit? Our Securities Arbitration Attorneys Represent Investors In Suing Their Brokers

If you are an investor who is pursuing damages from your financial advisor, then you will likely have to file your claim in Financial Industry Regulatory Authority (FINRA) arbitration. It is similar to court in that you will have to submit initial pleadings specifying your allegations, is entitled to discovery to build evidence supporting your case, and—if a settlement isn’t reached first—there will be a final evidentiary hearing where both sides will present evidence and examine/cross-examine witnesses. However, unlike a court case, a panel of arbitrators, not a jury or judge, would issue the ruling and you will have virtually no ability to appeal the decision if it is not in your favor.

These are just some of the reasons why it is so important that you are properly represented by Securities Arbitration Attorneys. At Shepherd Smith Edwards and Kantas (investorlawyers.com), we work with investors against their brokers who engaged in unsuitable investment recommendations, excessive trading, concentration, misrepresentations and omissions, negligence, and more. We understand the difference between a court case and an arbitration claim and the specific strategies and approaches needed to maximize your chances for full financial recovery in each legal forum. s

Reg D Investment Loss Recovery Lawyers

Published on: March 25, 2024 | by Shepherd Smith Edwards & Kantas, LLP

Latest Bankruptcy Filing Accuses iCap of Running A Ponzi Fraud. Our Reg D Investment Loss Recovery Lawyers Want To Help You Explore Your Legal Options

According to Paladin, the restructuring company now overseeing iCap, the real estate investment firm was allegedly a Ponzi scam that defrauded investors. The Seattle Times reports that Paladin and lawyers for iCap investors made this accusation in recent bankruptcy filings submitted in late March. iCap founder and its former CEO Chris Christensen denies this.

Shepherd Smith Edwards and Kantas (investorlawyers.com) are investigating allegations against iCap. We are offering a free, no-obligation case assessment to investors who want help in determining whether they should sue the broker-dealers that allegedly unsuitably marketed and sold iCap securities to them.

Investor Loss Lawyer

Published on: March 25, 2024 | by Shepherd Smith Edwards & Kantas, LLP

High-Net-Worth Investors Were Allegedly Targeted By Barred J.P. Morgan Securities Broker Antoine Souma. Our Investor Loss Lawyer Teams Are Investigating

If you suffered serious losses while working with former Beverly Hills financial advisor Antoine Nabih Souma, contact Shepherd Smith Edwards and Kantas Investor Loss Lawyer Teams (investorlawyers.com) During his 21 years in the industry, Souma was a registered representative at five brokerage firms, including J.P. Morgan Securities, Morgan Stanley, and Insigneo Securities (and also an investment adviser with Galliott Capital Advisors). A former top 100-Barron’s broker leading a team overseeing $3B in assets, he was barred by the Financial Industry in 2023 following allegations of excessive trading and other kinds of broker misconduct.

In 2019, JP Morgan Securities consented to pay $14M to settle a stockbroker fraud claim brought by one client of Souma’s who blamed him for a $20M loss. In 2022, an investor filed a $2M investment loss recovery lawsuit accusing Souma of margin abuse, unauthorized trading, and churning.

Non-Traded REIT Fraud Attorneys

Published on: March 25, 2024 | by Shepherd Smith Edwards & Kantas, LLP

Shepherd Smith Edwards and Kantas Is Continuing To Investigate Watermark Lodging Trust REIT Losses. Our Non-Traded REIT Fraud Attorneys Are Helping Investors Evaluate What Happened

Shepherd Smith Edwards and Kantas (investorlawyers.com) is offering free, no obligation, initial case consultations to those who lost money in Watermark Lodging Trust. Formerly known as Carey Watermark REITs (real estate investment trusts), this non-traded REIT has caused investors, particularly those who originally paid $10/share, significant losses now that there has been a huge drop in value, possibly as high as 60% to even 70%. Unfortunately, the options for reselling them, like many non-traded REITs, are very limited.

Always a high-risk investment, Watermark Lodging Trust charged high commissions of 10% or greater especially in its previous iterations of Carey Watermark Investors 1 and Carey Watermark Investors 2 prior to their merger to become this Watermark REIT. Dealer-manager fees and other offering costs were also charged, which meant that, allegedly, less than about 87% of an investor’s money was actually put into the non-traded REIT.

Broker Fraud Attorneys

Published on: March 25, 2024 | by Shepherd Smith Edwards & Kantas, LLP

Former Clients of Ex-Triad Advisors Broker James Walesa Are Seeking Many Millions in Financial Recovery. Broker Fraud Attorneys are involved in the Latest Investor Lawsuit Is Pursuing $34M in Damages

If you suffered losses while working with former Chicago financial advisor James Thaddeus Walesa, contact Shepherd Smith Edwards and Kantas (investorlawyers.com) today so that we can help you explore your legal options. Walesa, who was most recently an Arkadios Capital stockbroker (2019 – 2021) and before that, a Triad Advisors financial advisor for 18 years, has numerous customer disputes on his CRD. Many of them are still pending. This includes, most recently, a $34,000,000 FINRA lawsuit that InvestmentNews reports likely was filed against Triad, which was Walesa’s broker-dealer of record at the time that he worked with the claimant. The investor is alleging unsuitable investment recommendations and multiple conflicts of interest. Another investment loss recovery claim involving Walesa was recently settled for over $2M. A different one, in which the damages sought was $790K, was settled for $4.5M.

Walesa worked 39 years in the securities industry. Now, he has former financial advisor clients accusing him of unsuitability, breach of contract, negligence, breach of fiduciary duty, due diligence failures, misrepresentations and omissions, and more involving alternative investments. These purportedly included real estate deals that he also owned or oversaw. If the latter is true then Walesa acted as both product sponsor and salesperson when selling those investments, which would have been a huge conflict of interest.

L Bond Recovery Attorneys

Published on: March 25, 2024 | by Shepherd Smith Edwards & Kantas, LLP

If You Are An Investor Who Suffered GWG L Bond Losses Contact Our L Bond Recovery Attorneys Today

Elderly Retiree Couples Sue Arete Wealth Management For Up to $1,000,000

Shepherd Smith Edwards and Kantas (investorlawyers.com) is continuing to offer free, no-obligation case consultations to investors who sustained huge losses in GWG L Bonds. Already we are representing many L Bond investors, including three couples—all older retirees—who are seeking up to $1M in damages from Arete Wealth Management.

Reg D Private Placement Loss Recovery Attorneys

Published on: March 25, 2024 | by Shepherd Smith Edwards & Kantas, LLP

Are You An HJ Sims Reg D Private Placement Investor Who Would Like To Explore Your Legal Options? Contact Shepherd Smith Edwards and Kantas Today To Speak With One Of Our Reg D Private Placement Loss Recovery Attorneys

In the wake of allegations that HJ Sims (Herbert J. Sims) allegedly unsuitably marketed and sold $2.2B of Regulation D private placements to investors, our skilled broker fraud lawyers are continuing to investigate claims of related investment losses. If you are one of these investors and would like our help determining whether you have grounds for a FINRA lawsuit seeking damages, contact Shepherd Smith Edwards and Kantas (investorlawyers.com) today.

HJ Sims is believed to have sold about 93 private placements to investors over the last 10 years. A number of them defaulted, which has severely hurt their value. Also, most of the HJ Sims Reg D investments were sold exclusively by this broker-dealer. There are also allegations that some of the broker-dealer’s executives were involved in the issuance of a number of private placement bonds. If that is true then they likely made money on the bonds twice—when the bonds were issued and sold to customers. This would have been a conflict of interest that should have been disclosed.

Broker Misconduct Lawyers

Published on: March 25, 2024 | by Shepherd Smith Edwards & Kantas, LLP

Shepherd Smith Edwards and Kantas Broker Misconduct Lawyers Are Investigating Aegis Capital Following Allegations of A $5B Securities Fraud

Broker-Dealer Is Rated Poorly Based On Number Of Retail Investor Lawsuits and Underwritten Offerings

If you have suffered serious investment losses while working with Aegis Capital, contact Shepherd Smith Edwards and Kantas (investorlawyers.com) today. The broker-dealer was recently ranked by SLCG Economic Consulting LLC as number 2 on its list of the “worst” brokerage firms based on investor complaints. The financial economic consulting firm cautioned that investors should stay away from Aegis Capital “at all costs.”