Post-Investment Fraud May Qualify as “Predicate Act” for Civil RICO Claims Investor Education

September 3, 2018

Post-Investment Fraud May Qualify as “Predicate Act” for Civil RICO Claims

The Racketeer Influenced Corrupt Organizations Act (“RICO”) makes it unlawful for “any person” to conduct,…

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Mika Meyers, PLC Moves to Intervene in SEC Enforcement Action on Behalf of Investor Defrauded By First Nationle Solutions, LLC and Perry Santillo Firm NewsIndustry NewsJudgments

August 10, 2018

Mika Meyers, PLC Moves to Intervene in SEC Enforcement Action on Behalf of Investor Defrauded By First Nationle Solutions, LLC and Perry Santillo

After obtaining a $512,000 judgment for clients in a high-profile securities fraud case against First…

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Indemnification Agreements in Securities Arbitration Investor Education

July 8, 2018

Indemnification Agreements in Securities Arbitration

When a brokerage firm customer gives a trading authorization to a spouse, another family member,…

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Group Claims in Securities Arbitration Investor Education

July 8, 2018

Group Claims in Securities Arbitration

FINRA allows multiple claimants to join in one action “if they assert any right to…

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Statutes of Limitation in FINRA Arbitration Investor Education

December 25, 2017

Statutes of Limitation in FINRA Arbitration

“The majority position in U.S. courts is that statutes of limitation do not apply in…

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“Control Persons” May Be Liable for Stock Broker Misconduct Investor Education

August 19, 2017

“Control Persons” May Be Liable for Stock Broker Misconduct

Section 20(a) of the Securities Exchange Act of 1934 provides as follows: “Every person who,…

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Suitability and the Prudent Investor Rule Investor Education

July 30, 2017

Suitability and the Prudent Investor Rule

When advising trust clients, FINRA member firms have a duty to ensure that the investment…

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Utilizing Rescission and Restitution as a Remedy in Actions Against Stockbrokers Investor AlertInvestor Education

July 30, 2017

Utilizing Rescission and Restitution as a Remedy in Actions Against Stockbrokers

Many people are surprised to learn that rescission and restitution is an available remedy in…

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FINRA Continues to Meet Out Punishment for Unsuitable Sales of GWG Secured Debentures Investment ProductsInvestor Alert

July 23, 2017

FINRA Continues to Meet Out Punishment for Unsuitable Sales of GWG Secured Debentures

On July 20, 2017, FINRA’s appeals body, the National Adjudicatory Council, upheld a hearing panel’s…

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Securities-Backed Lending: Cross-Collateralization Clauses Pose Threat to Retirement Savings Investor Education

July 22, 2017

Securities-Backed Lending: Cross-Collateralization Clauses Pose Threat to Retirement Savings

Securities-backed lending is the term used to describe a lending arrangement in which an investor…

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Unsuitable Sales of “Steepeners” Prompt Regulatory Enforcement Actions Investment ProductsInvestor Alert

July 22, 2017

Unsuitable Sales of “Steepeners” Prompt Regulatory Enforcement Actions

“Steepeners” are complex, structured investment products. They are typically longer-term notes and certificates of deposit…

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Suitability Claims Involving Mutual Fund Share Classes Investor Education

May 5, 2017

Suitability Claims Involving Mutual Fund Share Classes

Mutual funds typically use fund assets to pay annual operating expenses, including management fees, administrative…

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Overcoming the Prospectus Defense in Suitability Cases Against Financial Advisors Investor Education

April 30, 2017

Overcoming the Prospectus Defense in Suitability Cases Against Financial Advisors

In suitability cases, financial advisors invariably argue that they cannot be held liable for inducing…

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Liability of Retirement Plan Administrators for Fraudulent Withdrawals Investor Education

April 22, 2017

Liability of Retirement Plan Administrators for Fraudulent Withdrawals

Occasionally our firm is contacted by an investor who has suffered the misfortunate of having…

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Financial Advisor Misconduct – Fraudulently Procured Releases Investor AlertInvestor Education

April 21, 2017

Financial Advisor Misconduct – Fraudulently Procured Releases

Financial advisors owe fiduciary duties to clients with whom they have a relationship of trust…

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Puerto Rico Bonds and Bond Funds – Loss Recovery Investor AlertInvestor Education

December 30, 2016

Puerto Rico Bonds and Bond Funds – Loss Recovery

Puerto Rico has been in an economic decline since 2006, when corporate tax loopholes closed,…

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Michigan Investment Fraud Attorneys Explain Michigan Uniform Securities Act – Part III Industry Cases

December 2, 2016

Michigan Investment Fraud Attorneys Explain Michigan Uniform Securities Act – Part III

Under Section 509(5) of the Michigan Uniform Securities Act, “ person acting as an investment…

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Michigan Investment Fraud Attorneys Explain Michigan Uniform Securities Act – Part II Investor Education

November 17, 2016

Michigan Investment Fraud Attorneys Explain Michigan Uniform Securities Act – Part II

Section 509(4) – Unregistered, Non-Exempt Broker-Dealers Section 509(4) of the Michigan Uniform Securities Act states…

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Michigan Investment Fraud Attorneys Explain Michigan Uniform Securities Act – Part I Investor AlertInvestor Education

November 15, 2016

Michigan Investment Fraud Attorneys Explain Michigan Uniform Securities Act – Part I

This is the first of a series of posts outlining the various civil claims made…

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Fixed-Indexed Annuities: A Boon for Them and a Bust for You Investment ProductsInvestor AlertInvestor EducationUncategorized

November 14, 2016

Fixed-Indexed Annuities: A Boon for Them and a Bust for You

Fixed-indexed annuities offer the best of both worlds–guaranteed returns and upside potential–or so goes the…

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