Shareholders Can Proceed with $13B CDO Fraud Case Against Goldman Sachs A US district court judge has given Goldman Sachs (GS) shareholders the right to move forward with their $13B collateralized debt obligation fraud lawsuit accusing the bank of not disclosing certain conflicts of interest. Judge Paul A. Crotty…
The attorneys with the law firm of Shepherd, Smith, Edwards & Kantas LLP are currently investigating claims involving Larry Dearman, Sr. Larry Dearman moved to Bartlesville, Oklahoma in 2005, when he began working as a financial advisor in the area. He was registered both with the Financial Industry Regulatory Authority…
In a settlement reached with the US Securities and Exchange Commission, Ameriprise Financial Services (AMP) will pay $4.5M over allegations that it did not protect retail investors from five of their financial representatives, who stole over $1.5M. Three of these individuals had previously pleaded guilty to criminal charges involving investor…
Earlier this year, the US Securities and Exchange Commission barred ex-RBC broker Thomas Buck from the industry. The action came less than four months after the regulator filed a civil case accusing Buck of investor fraud. He allegedly made material misrepresentations and omissions to investment advisory clients and certain customers…
The attorneys at the law firm Shepherd, Smith, Edwards & Kantas LLP are currently investigating claims of institutional investors involving swaps or other ongoing, inappropriate investments. Many companies, state municipalities, and other governments were talked into entering into swap transactions, either as a part of another securities transaction such as…
Date: June 17, 2013 The attorneys at Shepherd Smith Edward & Kantas are investigating the claims of investors who purchased positions in gold, silver, or other precious metals at the recommendation of their broker or financial adviser. Recently, increasing numbers of brokers have been pushing their clients to invest in precious metals or…
The securities lawyers with Shepherd, Smith, Edwards, & Kantas LLP (“SSEK”) are investigating claims of investors and clients of Jeffrey Randolph Wilson (“Wilson”) who works with Wells Fargo Clearing Services, LLC (“Wells Fargo”) in Las Cruces, New Mexico. In the last 18 months, at least three of Mr. Wilson’s clients…
Lawyers representing a retired couple in a claim against Oppenheimer & Co., Inc. recently obtained an award from a Financial Industry Regulatory Authority (“FINRA”) arbitration panel awarding them $800,000 in damages. The claim was based upon an investment of the couple’s money, including retirement assets, into various energy stocks, including…
The Associated Press is reporting that the shareholders who sued Wilmington Trust are asking a federal judge to approve a proposed $210M bank fraud settlement reached with the bank. The plaintiffs contend that the bank fraudulently hid billions of dollars in bad loans while bank officials misled investors and regulators…
Murray Huberfeld, a Platinum Partners principal, has pleaded guilty to allegations that he was involved in a wire fraud conspiracy. However, he has not admitted a guilty plea to related to an alleged $1B scam involving his hedge fund. Huberfeld admitted to misleading his hedge fund when he falsely claimed…