Investor Lawyers Blog

Shepherd Smith Edwards and Kantas Investigates Claims Involving Ex-Woodbury Financial Services Broker Robert Hayes Hoffman

Published on: December 26, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Barred Woodbury Financial Services Broker Accused of Misrepresentations and Fraud

If you are an investor who lost money while Robert Hayes Hoffman was your financial representative, our broker misconduct lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) would like to talk to you. Hoffman was barred by the Financial Industry Regulatory Authority (FINRA) in 2017 and the Indiana Securities Division in 2018. He was a Woodbury Financial Services broker from 2006 and 2017. After that, for less than a year, he was a Thurston, Springer, Miller, Herd & Titak broker until the FINRA bar.

Hoffman’s BrokerCheck record notes that he has already been the subject of at least three customer disputes. One claim, alleging unsuitability, misrepresentations, breach of fiduciary duty, and selling away, was settled for $250K. Another customer dispute, which made similar allegations, including churning, was settled for over $1M. A third dispute, which accused Hoffman of recommending a variable annuity that was not only unsuitable for the claimant but also resulted in tax consequences for her, was settled for nearly $48K.

Shepherd Smith Edwards and Kantas Investigates Investor Loses Involving Steepener Structured Notes

Published on: December 24, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Steepener Investments Not Suitable for All Investors

Throughout the US, our investment fraud lawyers at Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) represent investors who sustained losses in Steepener investments after they were not fully apprised of the risks or because these structured notes were never suitable for them, to begin with.

Steepeners are complex investments and they are not for everyone. Some Steepener structured notes and investments have suffered catastrophic losses. Contact SSEK Law Firm to request your free, no-obligation case consultation.

Lek Securities Ex-CEO Samuel Lek Barred by FINRA and Major Exchanges

Published on: December 24, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Lek Securities Accused of Enabling Manipulative Trading

The Financial Industry Regulatory Authority (FINRA) and most major US securities exchanges have permanently barred broker Samuel Lek, who is also the former CEO of Lek Securities. Meanwhile, the broker-dealer was fined $900K.

The bars by the self-regulatory organization (FSRO), the New York Stock Exchange (NYSE), the Nasdaq Stock Market, Cboe Global Markets, and their affiliate exchanges were part of 10 distinct settlements. They came in the wake of allegations that Lek Securities gave foreign traders market access and that some of these traders proceeded to engage in manipulative trading and fraud. Lek and Lek Securities settled the charges but without denying or admitting to them.

Shepherd Smith Edwards and Kantas Investigates Claims Involving Centaurus Financial Broker Katherine Nishnic

Published on: December 23, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Centaurus Financial Broker Named In Multiple Customer Disputes

If you suffered substantial investment losses while Centaurus Financial broker, Katherine Nishnic, was your registered representative, please contact Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm). We can help you determine whether you have grounds for a broker fraud case. According to her BrokerCheck record, Nishnic is already the subject of at least eight customer disputes.

She has been in the industry for 25 years and a Centaurus broker for four years. Previous to that, Nishnic was registered as a broker for JP Turner and before that with GunnAllen Financial, First Allied Securities, DE Frey & Co., Merrill Lynch and Pierce Fenner and Smith.

Shepherd Smith Edwards and Kantas Investigates Sagepoint Financial Over GPB Private Placement Sales

Published on: December 19, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Sagepoint Financial Customers Suffer Losses from GPB Private Placements and Funds

If you are an investor who suffered losses after a Sagepoint Financial broker sold you GPB private placements, our securities fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) would like to talk to you. GPB Capital Holdings is accused of running a $1.8B Ponzi scam. Sagepoint Financial is one of more than 60 broker-dealers whose registered representatives sold these investments to their customers.

Sagepoint Financial is part of Advisor Group, a huge network of independent wealth management firms. In August, the broker-dealer and another Advisor Group firm, Royal Alliance, were prominently named by the lead plaintiffs in the first class action securities case against GPB Capital. The firms’ brokers had sold them their investments in the GPB Automotive Portfolio and the GPB Holdings II funds.

Shepherd Smith Edwards and Kantas Continues to Investigate Claims Involving Merrill Lynch Strategic Return Notes

Published on: December 18, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Merrill Lynch Sold Strategic Return Notes To Retail Investors

If you are an investor who lost money from Strategic Return Notes (SRNs) that were sold by Bank of America’s (BAC) Merrill Lynch, please contact our investment fraud lawyers at Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) today.

The investment raised about $150M from their sales and caused substantial losses from many. SSEK Law Firm is committed to helping Strategic Return Notes investors to recoup their losses.

Shepherd Smith Edwards and Kantas Investigates Kalos Capital Broker Darren Kubiak Over GPB Investments and Exchange-Traded Funds Sales

Published on: December 17, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Kalos Capital Broker Sold GPB Private Placements and LIETFs

Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) is investigating customer complaints involving Darren Michael Kubiak, a Kalos Capital broker who is currently suspended from the industry for three months. Kubiak is one of the Kalos representatives who sold GPB Capital Holdings private placements to investors. GPB is accused of operating a $1.8B Ponzi scam.

Kubiak Suspended By FINRA

Shepherd Smith Edwards and Kantas Investigates Claims Involving Ex-Pruco Broker Joseph Viet Duy Phan

Published on: December 16, 2019 | by Shepherd Smith Edwards & Kantas, LLP

Former Pruco Securities Broker Accused of Borrowing Customers’ Money

The Financial Industry Regulatory Authority (FINRA) announced that it is barring Joseph Viet Duy Phan, an ex-Pruco Securities broker, after he did not appear at a hearing in the self-regulatory organization’s (SRO) probe into why he was fired by the broker-dealer. Phan was let go by Pruco for allegedly borrowing money from two clients’ accounts without firm approval. Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) is currently looking into potential investor claims against the former Pruco broker and his firm. If you lost money while working with Phan as your registered representative, contact our broker fraud lawyers today.

Phan was a Pruco broker from 2007 into 2018. Aside from allegedly borrowing money from clients’ accounts without authorization, he is also accused of trying to deposit one client’s insurance premium check into an account that was in his name.

Shepherd Smith Edwards and Kantas Investigates Claims Involving NYPPEX Broker Laurence Allen

Published on: December 13, 2019 | by Shepherd Smith Edwards & Kantas, LLP

NYPPEX Private Equity Fund Manager Accused Of $13M Investor Fraud

Laurence G. Allen, the CEO of New York-based broker-dealer, NYPPEX Holdings LLC, is accused of defrauding investors of over $13M. New York Attorney General, Leticia James, filed a securities fraud lawsuit suing Allen, a private equity manager who is also a registered broker and a former investment advisor.

If you were one of these investors that suffered losses from working with Laurence Allen, contact Shepherd Smith Edwards and Kantas, LLP (SSEK Law Firm) today.

First Broker Fraud Case Involving GPB Capital Investments Gears Up for Spring FINRA Hearing

Published on: December 12, 2019 | by Shepherd Smith Edwards & Kantas, LLP

GPB Capital Fraud Victim To Have Case Heard By FINRA

An investor who lost significant sums after she was sold GPB Capital private placements by an Arkadios Capital broker will get her case heard before a Financial Industry Regulatory Authority arbitration (FINRA) panel in April 2020.

This will likely be the first broker fraud complaint involving GPB investments to go before the self-regulatory organization’s (SRO’s) arbitrators.