Investor Lawyers Blog

Frontier Communication Bonds Investors May Be Able To Recover Losses Through Broker Fraud Claims

Published on: September 11, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Following Bankruptcy Proceedings, Bondholders Turn to FINRA Arbitration

Now that Frontier Communications Corp. has filed for bankruptcy protection, investors who bought the company’s bonds may be grappling with how to recover their losses.

At Shepherd Smith Edwards and Kantas (SSEK Law Firm), our bond fraud lawyers are here to tell you that you may have grounds for a Financial Industry Regulatory Authority (FINRA) arbitration claim against the broker that sold you these investments.

Ex-American Northcoast Securities Broker Dominic Tropiano Allegedly Defrauded ETF Investors

Published on: September 9, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Barred Ohio Stockbroker Accused of Over 500 Unsuitable Exchange Traded Fund Transactions

Dominic Anthony Tropiano, a former registered broker in Ohio, is now facing US Securities and Exchange Commission (SEC) fraud charges. The regulator contends that Tropiano placed more than 500 unsuitable and unauthorized trades in 40 customer accounts belonging to retail customers, including elderly investors.

These transactions and investment strategies involved leveraged exchange-traded funds (ETFs), which are complex, very risky securities. As a result, customers allegedly lost over $1M. Meanwhile, Tropiano earned at least $115K in bonuses and commissions.

FS Energy & Power Fund Investors Should Talk To A Broker Fraud Lawyer

Published on: September 8, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Franklin Square Energy and Power Fund’s Board Suspends Repurchase Program

If you are someone who invested in Franklin Square Energy and Power Fund (FSEP), you have likely experienced losses. The non-traded business development company’s (BDC) board recently announced that it was suspending its repurchase program and its share price has once again plunged.

While FSEP has pointed to COVID-19, the resulting turbulence, and oil prices sinking as reasons for its current woes, investors may have reason to pursue broker fraud and negligence claims if their broker-dealer unsuitably recommended this investment or failed to apprise them of the risks involved.

Arkansas Retiree Who Worked With Ex-LPL Financial Broker Rhett Bedwell Sues for $500K in Damages

Published on: September 7, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Senior Investor’s Loses Retirement Funds Because of Unsuitable Investment

An Arkansas retiree has filed a Financial Industry Regulatory Authority (FINRA) arbitration claim against LPL Financial for losses he suffered because of the unsuitable recommendation of Rhett Douglas Bedwell, one of the broker-dealer’s former registered representatives. Bedwell, who is no longer a stockbroker or investment advisor, is accused of defrauding a number of customers.

Now, this retiree is seeking up to $500K in investment loss damages after Bedwell invested a significant portion of his retirement funds in what appears to have been a Ponzi scam involving Small World Capital and the now defunct, Graysail Capital.

SEC Accuses Financial Advisor And Strategic Wealth Advisor Group of Stealing $2.2M From Senior Investors

Published on: September 4, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Investment Advisor Allegedly Defrauded Senior Investors to Fund Lavish Lifestyle

The US Securities and Exchange Commission (SEC) has filed charges against Mark Joseph Boucher, a California-based investment adviser, and his firm, Strategic Wealth Advisor Group Services.

Boucher and Strategic Wealth Advisor Group are accused of stealing $2.2M from older customers, including one who had died. Now, the regulator wants permanent injunctions, civil penalties, and disgorgement with prejudgment interest.

Brokers Unsuitably Recommended NorthStar Healthcare Income Non-traded REIT To Many Retail Investors

Published on: September 3, 2020 | by Shepherd Smith Edwards & Kantas, LLP

NorthStar Healthcare Investors Should Explore Legal Options to Recover Losses

Eighteen months after NorthStar Healthcare REIT suspended distributions, investors are still grappling with the losses they’ve sustained. Now, the non-traded real estate investment trust’s (non-traded REITs) share price appears to have lost most, if not all, of its value.

If you are a Northstar Healthcare investors, our non-traded REIT fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) would like to help you explore your legal options. You very well may have grounds for a broker negligence claim to recover your losses and damages.

Dallas Retiree Accuses UBS Of Unsuitably Recommending YES Strategy

Published on: September 1, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Senior Investor Sues UBS Financial For Losses Caused by Yield Enhancement Strategy

A Texas retiree says UBS’s Yield Enhancement Strategy (“YES”) is to blame for investment losses he suffered over a short time period at the end of 2018. According to the claim filed with the Financial Industry Regulatory Authority (“FINRA”), the YES program was unsuitably recommended to him as it is a highly risky investment program. Now, the claimant is seeking up to $100,000 in damages.

Our broker-dealer fraud lawyers at Shepherd Smith Edwards & Kantas (“SSEK Law Firm”) are representing this investor as well as several others seeking to recoup wrongful losses from UBS Financial’s YES program. SSEK Law Firm represents investors nationwide, including in UBS YES claims. The most recent case SSEK Law Firm has filed will be held in Dallas.

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.

SEC Says Joseph Stone Capital Broker Ross Barish Defrauded 16 Investors

Published on: August 27, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Barish Earned Over $400K in Commissions from Excessive Trading Strategy

The US Securities and Exchange Commission (SEC) has filed civil charges against Ross Adam Barish, a Joseph Stone Capital registered representative. The regulator contends that Barish engaged in an unsuitable in-and-out trading strategy in customers’ accounts without doing the necessary due diligence to make sure that this approach could at least deliver them minimal profits.

Instead, 16 retail investors collectively lost more than $800K while the Joseph Stone Capital broker earned more than $400K in commissions. Now, the SEC is seeking penalties, disgorgement with prejudgment interest, and injunctive relief.

More Than 20 Investor Fraud Complaints Have Involved Ex-Morgan Stanley Broker Michael Paesano

Published on: August 26, 2020 | by Shepherd Smith Edwards & Kantas, LLP

The Latest Customer Claim Accuses Investment Advisor of Excessive Trading

Once again, an investor is blaming former Morgan Stanley stockbroker, Michael Frank Paesano, for their investment losses. These latest allegations involve excessive trading.

Although Paesano is no longer a registered broker, he is still a registered investment advisor and he may be affiliated with Axiom Investment Management. During Paesano’s 26 years in the industry, there have been more than twenty customer complaints brought against him. While four of these cases were denied, all of the other resolved claims have led to significant settlements, including one for $1.2M.