Nine Energy Service Bonds Expected to Deteriorate Further Nine Energy Service, Inc. (NINE) recently announced that the New York Stock Exchange (NYSE) found that the oilfield services company was once more in compliance with the stock exchange’s continued listing standard. The news comes less than two months after the NYSE…
Structured Product Losses Stun Retail Investors Who Should Never Have Been Told By Brokers To Buy Them The recent market turbulence caused by the coronavirus has caused many investors’ portfolios to suffer huge losses, and nowhere is this more evident as the losses suffered by those who invested heavily in…
Accused of Defrauding Plant Workers, Including Retirees Centaurus Financial advisor Ricky Mantei (Mantei Group), formerly a JP Turner stockbroker, is alleged to have been the mastermind behind a large enterprise that spanned four offices in two states and resulted in the retirement savings of many unsuspecting investors being lost. Mantei…
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…
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…
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…
Elderly Investor Alleges Unsuitable Investment Recommendations Caused REIT Losses An Oklahoma retiree is seeking up to $500K in damages for investment losses she suffered while working with Kovack Securities broker, Susan Penney. The claimant contends that Penney and the broker-dealer misled her and made unsuitable recommendations when they persuaded her…
FINRA Accuses SunTrust Investment Services of Failing to Properly Supervise Brokers The Financial Industry Regulatory Authority (FINRA) has ordered SunTrust to pay $634K to settle charges accusing the broker-dealer of not properly supervising 17 of its brokers when they recommended that customers hold non-traditional exchange-traded funds (ETFs) for long periods–a…
Fired Wells Fargo Representative is Barred by FINRA The Financial Industry Regulatory Authority (FINRA) announced this month that it is barring former Wells Fargo Advisors Financial Network broker, Leonard Charles Kinsman, from the industry. The ban comes after Kinsman refused to testify in the self-regulatory organization’s (SRO’s) probe into his…
State Securities Regulator Claims GPB Capital Defrauded 180 Local Investors Massachusetts Secretary of the Commonwealth, William Galvin, has filed a civil fraud lawsuit against GPB Capital Holdings accusing it of defrauding 180 local investors who purchased more than $14M of private placements in five of the GPB funds. The alternative…