Bond Funds

Bond Loss Recovery Lawyers

Published on: March 4, 2024 | by Shepherd Smith Edwards & Kantas, LLP

GWG Wind Down Trust Report Confirms That Filing A FINRA Lawsuit Is L Bond Investors’ Best Chance For Financial Recovery. Our GWG L Bond Loss Recovery Lawyers Are Representing Claimants In Suing Their Brokers

On February 15, the GWG Wind Down Trust report submitted a status report with the US Bankruptcy Court for the Southern District of Texas for the quarter that concluded on December 31, 2023.

While the Trust was able to generate money through a sale of certain tangible assets and its life insurance policy portfolio, it noted that it is finding it challenging to sell its shares in Beneficient, which last week closed at $0.2561/share—a significant drop from the original $15/share price.

L Bond Loss Lawyers

Published on: November 15, 2023 | by Shepherd Smith Edwards & Kantas, LLP

There is Still Time To Try To Recover Your GWG L Bond Losses

California Brokers From Expelled Firm Ordered To Pay More Than $1M To Investor

A Financial Industry Regulatory Authority (FINRA) arbitration panel recently awarded over $1 million in damage to a GWG L Bond investor. The three respondents in the case were all former financial advisors at the now-expelled broker-dealer Accelerated Capital Group in Costa Mesa, CA. Two of them, Michael Barrows and Eric Ludovico, were ordered to pay the award. (They are now registered M Stevens Securities brokers in Irvine, CA.)

GWG L Bond loss lawyers

Published on: July 17, 2023 | by Shepherd Smith Edwards & Kantas, LLP

For GWG L Bond Investors, Filing A Broker Fraud Lawsuit May Be a Chance For Financial Recovery

Bankruptcy Court Approves GWG Holdings Plan which provides Minimal Hope for Investors.

More than a year after GWG Holdings filed for bankruptcy, its plan has been accepted by the US bankruptcy court in Houston and confirmed by voting bondholders. While this is a positive, forward movement for the bankruptcy proceedings, it is still not the best way for investors to recoup their losses.

Seasoned GWG L Bond Investor Loss Attorneys

Published on: December 30, 2022 | by Shepherd Smith Edwards & Kantas, LLP

Seasoned GWG L Bond Investor Loss Attorneys

Filing Your Own Individual FINRA Lawsuit Maximizes Your Chances for Full Financial Recovery

Shepherd Smith Edwards and Kantas (investorlawyers.com) is representing investors who have suffered serious losses in GWG L Bonds against their broker-dealers. Unfortunately, a slew of regional brokerage firms appear to have unsuitably sold these life settlement-backed bonds to customers, including many retail investors and retirees, in what is now being called an alleged “classic” Ponzi scam. Visit GWG Holdings, Inc. for more information.

How Can A Seasoned Bond Fraud Losses Law Firm Help You?

Published on: October 13, 2022 | by Shepherd Smith Edwards & Kantas, LLP

What Should You Do If You Are A GK Investment Holdings 7% Bond Investor?

JCC Advisors and Other Broker-Dealers May Have Unsuitably Sold This Investment To Customers

Earlier this year, GK Investment Holdings, LLC (GKIH) sent a letter to investors warning that if 90% of them failed to trade in their current 7% Bonds with “new bonds,” which would extend the bonds’ maturity date, the old bonds would likely go into default. This could delay the repayment of bondholders’ principal or render the company unable to pay back their principal at all. GKIH cautioned that it could end up having to file for bankruptcy even. All of these possible outcomes are highly concerning for investors given that they could stand to lose money.

What Are The Risks of High-Yield “Junk” Bonds?

Published on: August 31, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Denver Investors May Be Facing Losses from High Yield Bonds

As the number of COVID-19 cases continues to increase in parts of the US, high-yield junk bonds have been underperforming.

Not only that, but according to The Wall Street Journal, in early July the growing concern that there may be a bigger wave of pandemic cases coming caused junk bond yields to reach their highest levels in weeks as the high-risk debt “underperformed” in certain credit markets.

Nine Energy Service Investors May Have Grounds for Bond Fraud Claims to Recover Losses

Published on: June 16, 2020 | by Shepherd Smith Edwards & Kantas, LLP

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 notified the Houston-based company of its noncompliance with this standard after its common stock’s share price dropped to under $1/share over 30 trading days in a row. The $1/share price is the minimum closing price per share allowed for a stock to stay on the NYSE.

Frontier Communications Bonds Purchased From FMSBonds May Have Grounds for FINRA Arbitration Claim

Published on: April 23, 2020 | by Shepherd Smith Edwards & Kantas, LLP

FMSBonds May Not Have Apprised Frontier Communications Investors Of The Risks

If you purchased Frontier Communications bonds from FMSBonds, also known as First Miami Securities, or any other bonds that have turned out riskier than what was represented to you, please contact our broker fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) today.

Our investor law firm has been speaking to investors with complaints against the Florida-based municipal bond firm to help them determine whether they have grounds for a securities arbitration claims to recover their losses.

Puerto Rico Retiree Plan Accuses UBS and Others of Bond Price Rigging

Published on: April 29, 2019 | by Shepherd Smith Edwards & Kantas, LLP

The Puerto Rico Government Employees and Judiciary Retirement Systems Administration, a pension plan for retirees of the U.S. territory’s government, has filed a proposed securities class action in federal court against Bank of America (BAC), Goldman Sachs (GS), Citigroup (C), Barclays Capital, Inc. (BARC), BNP Paribas Securities Corp., Bank of America Securities, Credit Suisse Securities, FTN Financial Securities, Deutsche Bank Securities, JP Morgan Securities, Morgan Stanley (MS), Merrill Lynch, Pierce, Fenner & Smith, and UBS Securities. The retirement fund is accusing the defendants of rigging bond prices to keep the prices up on Freddie Mac and Fannie Mae bonds.

Freddie and Fannie, both U.S. government-sponsored entities (GSEs), offer bonds to raise money for loans. According to the Puerto Rico pension plan’s bond fraud case, the trading desks of the various banks worked together to artificially raise the prices of the GSE bonds when the market took a hit after the 2008 financial crisis and Fannie and Freddie started reducing the number of bonds issued for sale. This decrease led to a loss in profits for those underwriting and trading in Fannie Mae and Freddie Mac bonds. The plaintiff contends that instead of the banks opting to lower the difference between their purchasing and selling prices and competing for clients, they worked together to fix the bond prices so they could “maximize” their profits at the expense of customers.

The Puerto Rico retirement plan’s complaint comes weeks after another proposed class action was brought by two other pension funds also accusing banks of rigging the price of GSE bonds. The pension fund plaintiffs in that fraud case are the Trust and Sheet Metal Workers’ Local 19 Pension Fund and the Dallas Area Rapid Transit Employees’ Defined Benefit Retirement Plan. The defendants are Bank of America NA, Barclays Capital, Wells Fargo Securities, LLC, Citigroup Global Markets, Inc., BNP Paribas Securities Corp., Deutsche Bank Securities, JPMorgan Securities, HSBS Bank Plc, HSBC Securities, JP Morgan Chase Bank, TD Securities, Nomura Securities International Inc., and Merrill Lynch, Pierce, Fenner & Smith.

Ex-UBS Official Recounts How the Bank Got Investors to Take on More Puerto Rico Debt

Published on: May 2, 2018 | by Shepherd Smith Edwards & Kantas, LLP

A former UBS (UBS) banking official is claiming that Wall Street banks like his previous employer played a key role in the Puerto Rico economic crisis that has left the U.S. territory more than $70 billion in debt and mired in bankruptcy-like proceedings. The ex-UBS official, Carlos Capacete, was interviewed as part of a joint NPR and FRONTLINE probe. Capacete worked for UBS Puerto Rico (UBS-PR) for over a quarter of a century and was the head of the biggest UBS branch on the island in Hato Rey. At one point, Capacete oversaw $3 billion in client assets. Capacete left UBS in 2014 shortly after the crash in Puerto Rico bonds.

Prior to the market crash, Puerto Rico bonds and closed-end bond funds were highly profitable sales products for UBS and other banks on the island. While trying to prevent a government shutdown a number of years back, the U.S. territory started to borrow to pay for yearly government costs. This added $48 billion of debt in 14 years, reports PBS and FRONTLINE.

The Puerto Rico Debt Crisis Only Increased as Banks Made More Money