Investor Lawyers Blog

Barred Wells Fargo Broker Named in Unsuitable Investment Fraud Case Recently Settled for $995K

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

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 firing by Wells Fargo (WFC) for allegedly “unprofessional conduct.” Kinsman was named last year in an investor fraud claim accusing him of making unsuitable investment recommendations and forging and falsifying business records. That customer dispute has now been settled for $995K.

Massachusetts Sues GPB Capital Holdings for Defrauding Investors of Over $14M

Published on: June 2, 2020 | by Shepherd Smith Edwards & Kantas, LLP

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 asset firm, which acquires waste management operations and auto dealerships, has been accused of operating a more than $1.5B Ponzi scam.

UBS YES Strategy Investors Say They Were Promised Low Risks But Suffered Huge Losses

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

Investors Claim UBS YES Strategy Was Mismarketed To Them: SEC Looking Into the Allegations

If you are an investor whose UBS broker recommended that you employ the UBS YES (Yield Enhancement Strategy) and you’ve since suffered significant losses, you may have grounds for an investment fraud claim.

Unfortunately, UBS and its registered representatives may have been making unsuitable recommendations of this complex investment strategy to customers, as well as misrepresenting the risks involved.

Investor Sues Kestra Investment Services For IRA Losses Involving Barred Broker James Daughtry

Published on: May 29, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Alabama Retiree Lost Retirement Savings To Broker Fraud and Negligence

An investor in Alabama has filed a Financial Industry Regulatory Authority (FINRA) arbitration complaint against Kestra Investment Services, Inc. for retirement losses that she suffered while working with the now-former broker, James Daughtry.

The firm fired Daughtry earlier this year around the same time that FINRA barred him indefinitely after he refused to testify in the self-regulatory (SRO)’s probe into allegations that he engaged in potentially fraudulent and unauthorized transactions in customers’ accounts.

Did You Suffer Investment Losses? How a San Francisco Broker Fraud Lawyer Can Help

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

Throughout the San Francisco Bay Area, investors are finding themselves hit with huge investment losses, especially over the last few months as COVID-19 has shut down the economy, rattled the markets, and caused an oil price war.

While the Coronavirus has negatively impacted many investments, you should know that some of these losses also may be due to broker fraud or negligence. Shepherd Smith Edwards and Kantas (SSEK Law Firm) can help you determine whether this is the case and if it means that you have grounds for an investor claim to recover your losses. Contact us today to request your free, no-obligation consultation.

Investment Losses Reasons That May Be Grounds for a San Francisco Broker Fraud Claim

Investors of Preferred Stocks Suffer Losses As Market Undergoes Nearly 5% Drop

Published on: May 22, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Unsuitability & Overconcentration May Lead to Unnecessary Investor Losses in Preferred Stocks

If you are an investor in preferred stocks or preferred stock funds, you may have suffered losses as the preferred-stock market had dropped almost 5% since its mid-Feb peak.

These stocks do carry some risk with them and they are not suitable for every investor. If you are wondering whether your investments were inappropriately recommended to you or your broker overconcentrated your portfolio with too many of them, contact our investor attorneys at Shepherd Smith Edwards and Kantas (SSEK Law Firm) today.

Top Warning Signs of Senior Investor Fraud that You Need to Be Aware of

Published on: May 20, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Many Older Investors Remain Vulnerable to Securities Fraud

As a retiree or a senior investor living in the San Francisco Bay Area, there are red flags to look out for that may indicate that you’ve become the victim of senior investor fraud.

Unfortunately, older investors remain a favorite target of fraudsters eager to take advantage of an elderly customer’s inexperience or health issues while availing themselves of the latter’s retirement funds and other savings.

Morgan Stanley Sued for Unsuitable Recommendations Over Harvest Volatility Strategy, MLPs and Other Complex Investments Made To A Texas Investor

Published on: May 18, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Brokerage Firm Made Unsuitable Investment Recommendations to An Inexperienced Investor

Our brokerage firm fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) have filed a Financial Industry Regulatory Authority (FINRA) arbitration against Morgan Stanley on behalf of an elderly Dallas, Texas investor.

The investor in question sustained over $500K in losses due to the unsuitable recommendations of structured products, Master Limited Partnerships (MLPs), other oil and gas equities, and investments governed by Harvest Volatility Management’s Collateral Yield Enhancement Strategy (CYES).

Structured Products Are Not For Everyone In San Francisco. Here’s Why

Published on: May 15, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Our San Francisco structured product fraud lawyers at Shepherd Smith Edwards and Kantas (SSEK Law Firm) work with investors throughout the San Francisco Bay Area in helping them to recoup their losses.

Structured products are not for everyone, although investors find them very attractive because they can provide the opportunity to earn the high yield not likely to happen with more traditional types of investments.

Unfortunately, even though these market-linked investments should only be marketed to sophisticated investors that can handle a certain level of risk, brokers lured by the healthy commissions have been recommending them to retail investors, including senior investors and retirees, for years.

Securities Fraud In San Francisco: How You Can Protect Yourself

Published on: May 13, 2020 | by Shepherd Smith Edwards & Kantas, LLP

Becoming the victim of securities fraud in San Francisco can lead to devastating financial losses and there are steps that you can take to prevent that from happening. Even if your broker is registered with a known brokerage firm, there are questions you should ask and due diligence you can do to protect yourself and your investments.

How To Protect Yourself Against Securities Fraud

Below, we discuss the steps you need to put in place to ensure that you are fully protected when dealing with a broker or brokerage firm based in San Francisco.