Investor Lawyers Blog

Brokerage Firm Negligence Lawyers

Published on: June 5, 2023 | by Shepherd Smith Edwards & Kantas, LLP

When Broker-Dealer Supervisory Failures Don’t Protect Investors’ Best Interests

Our Trusted Brokerage Firm Negligence Lawyers May Be Able To Help You Pursue Damages

The Financial Industry Regulatory Authority (FINRA) is ordering two broker-dealers to pay penalties for compliance failures related to Regulation Best Interest (Reg BI). According to the self-regulatory organization (SRO), DMK Advisor Group and Harpeth Securities did not have the necessary policies and procedures to make sure that their registered representatives abided by this standard of conduct. As a result, both broker-dealers, which also were found to have engaged in compliance failures related to Form CRS, must each pay a $35K fine. Form CRS delineates its services, conflicts, fees, disciplinary history, and other information to customers. The two financial firms did not deny or admit to FINRA’s findings.

FINRA Lawsuit Attorneys

Published on: June 5, 2023 | by Shepherd Smith Edwards & Kantas, LLP

When Bad Brokers Scam Investors

You May Be Able To File a FINRA Lawsuit For Damages

Two former financial advisors have been sentenced to prison for bilking investors. Ex-Edward Jones broker Ronald Molo, who allegedly defrauded clients of around $800K, is sentenced to two years in prison and must pay over $815K in disgorgement plus prejudgment interest. Former Morgan Stanley financial advisor Shawn Edward Good, who allegedly stole $7.2M from retirees and other investors in a decade-long Ponzi scam, must serve seven years and three months in prison and pay $3.6M in restitution to those he harmed. In addition to receiving criminal convictions, both were banned by securities regulators from the industry.

Broker-Dealer Negligence Attorneys

Published on: June 1, 2023 | by Shepherd Smith Edwards & Kantas, LLP

When Retirees Are Targeted By Brokers in Ponzi Scams

Oppenheimer Must Pay Almost $14M Related to A$110M Scheme Run By Former Financial Advisor John Woods

A Financial Industry Regulatory Authority (FINRA) arbitration panel has ordered Oppenheimer & Co. to pay five Florida retirees and two trusts nearly $14M in losses they sustained in the $110M Horizon Private Equity III Ponzi scam run by its former Atlanta broker John J. Woods. The investors in this case, mostly ex-Delta Air Lines pilots and Air Force veterans, relied on the ongoing dividends from the Fund to support themselves and were devastated to discover that their investments were, in fact, worthless. The claimants contend that Woods had guaranteed high returns while claiming that their principal would stay safe.

Annuity Investor Loss Attorneys

Published on: June 1, 2023 | by Shepherd Smith Edwards & Kantas, LLP

For Northstar Financial Services (Bermuda) Investors The Time To Act Is Now

Our Seasoned Annuity Investor Loss Attorneys May Be Able To Help You Go After Your Broker

Nearly two and a half years after Northstar Financial Services (Bermuda) filed for bankruptcy protection, there has been no significant progress in liquidation proceedings. If you are someone who invested in an annuity or annuity-like product from this offshore entity and suffered significant losses, the time to act is now.

Brokerage Firm Arbitration Lawyers

Published on: June 1, 2023 | by Shepherd Smith Edwards & Kantas, LLP

When A Brokerage Firm Violates Investors’ Best Interests Through Alleged Misconduct

FINRA Expels SW Financial For Allegedly Making Misrepresentations and Omissions

The Financial Industry Regulatory Authority (FINRA) has expelled SW Financial following multiple alleged violations related to Regulation Best Interest (Reg BI). The self-regulatory organization (SRO) contends that between January 2018 and December 2021, the broker-dealer and its co-owner Thomas Diamante made purported misrepresentations and omissions related to the sale of private placement offerings of pre-IPO securities and also allegedly engaged in churning and committed supervisory failures. This excessive trading allegedly impacted multiple customer accounts, resulting in costs of over $350K and losses greater than $465K.

Senior Investor Fraud Lawyers

Published on: May 30, 2023 | by Shepherd Smith Edwards & Kantas, LLP

Are You A Retiree Whose Citizens Securities Broker Sold You Colorado Bankers Life Insurance Annuity?

Our Trusted Senior Investor Fraud Lawyers May Be Able To Help You Recoup Your Losses

Shepherd Smith Edwards and Kantas team of Senior Investor Fraud Lawyers (investorlawyers.com) are helping many of the investors who suffered losses in Colorado Bankers Life Insurance and the other insurance companies owned by Greg Lindberg. This includes, most recently, filing another FINRA lawsuit against brokerage firm Citizens Securities, Inc. on behalf of a Florida retiree who is seeking up to $500K in damages.

Florida Broker Fraud Attorneys

Published on: May 30, 2023 | by Shepherd Smith Edwards & Kantas, LLP

Florida Broker Fraud Attorneys

Our Trusted Tampa, FL Broker-Dealer Negligence Law Firm Represents Investors, Including Retirees

Shepherd Smith Edwards and Kantas (investorlawyers.com) represent residents in The Sunshine State who have suffered losses caused by broker fraud or negligence. If you are a retiree, a retail investor, a high-net-worth investor, or an institutional investor who would like to help determine whether your portfolio losses were due, even in part, to the actions—or lack thereof—of your financial advisor, contact us today to schedule your free, no-obligation case consultation.

REIT Investor Loss Attorneys

Published on: May 30, 2023 | by Shepherd Smith Edwards & Kantas, LLP

Peakstone Realty Trust Investors May Have Reason To Be Wary

Our Skilled REIT Investor Loss Attorneys Can Help You Explore Your Legal Options

With Peakstone Realty Trust (NYSE: PKST), formerly Griffin Realty Trust, recently joining the New York Stock Exchange, and the dramatic reduction to the net asset value that its stock traded at, investors may have reason for concern. While its trading shares briefly went up since the debut—starting at $8/share and at one point closing at $40.45/share, but eventually dropping to under $20.00 a share. However, previous to all of that, its most recent reported net asset value (NAV) was $66.87/share after a reverse stock split that occurred in March. Many investors paid more than the reported NAV.

Houston Broker Fraud Attorneys

Published on: May 30, 2023 | by Shepherd Smith Edwards & Kantas, LLP

Houston Broker Fraud Attorneys

Representing Investors in Greater Houston and the Surrounding Areas Against Brokerage Firms

For over 30 years, our experienced Houston, TX broker misconduct lawyers have been fighting for investors throughout the state against the largest brokerage firms in the United States. Losing the money that you’ve invested is never easy and it is even more devastating when it is because of the wrongful or negligent actions of the financial advisor you entrusted to take care of your funds.

Broker Misappropriation Attorneys

Published on: May 24, 2023 | by Shepherd Smith Edwards & Kantas, LLP

When Broker Misappropriation Leads to Investor Losses

Ex-Aegis Capital Financial Advisor Surage Roshan Perera Allegedly Stole $4M From Investor

If you are an investor who suffered losses while working with former Aegis Capital broker Surage Roshan Perera, Shepherd Smith Edwards and Kantas (investorlawyers.com) would like to talk to you. Our skilled broker misconduct attorneys have been investigating current and former registered representatives from that brokerage firm for some time, most recently related to their sale of GWG L Bonds to investors. GWG Holdings is now accused of operating a more than $1.6B Ponzi scam.