{"id":5155,"date":"2011-03-26T00:00:00","date_gmt":"2011-03-26T05:00:00","guid":{"rendered":"https:\/\/institutionalinvestorsecuritiesblog.blawgcloud.com\/2011\/03\/finra_wants_amerivet_securitie"},"modified":"2022-04-04T13:24:26","modified_gmt":"2022-04-04T18:24:26","slug":"finra-wants-amerivet-securitie","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/finra-wants-amerivet-securitie\/","title":{"rendered":"FINRA Wants Amerivet Securities Inc.\u2019s Lawsuit Seeking to Inspect the SRO’s Records Dismissed"},"content":{"rendered":"

The Financial Industry Regulatory Authority wants the District of Columbia Court of Appeals to reverse the D.C. Superior Court’s decision to not dismiss Amerivet Securities Inc.\u2019s lawsuit against the SRO. The broker-dealer wants to inspect FINRA\u2019s records and books.<\/p>\n

Amerivet Securities filed its complaint in August 2009 under the Delaware General Corporation Law\u2019s Section 220, which lets a shareholder examine a company\u2019s records and books for \u201cany proper purpose.\u201d The broker-dealer says it needs to inspect FINRA’s books and documents in order to expose the corporate wrongdoing related to the SRO’s 2008 investment losses and and allegedly inflated executive pay practices.<\/p>\n

When our securities fraud attorneys<\/a> covered this case more than a year ago, we noted that Amerivet had accused FINRA of failing to supervise and regulate a number of its larger member firms, including Lehman Brothers, Merrill Lynch, Bernard L. Madoff Investment Securities Inc., Bear Stearns and Co, and Stanford Financial Group. The broker-dealer also claimed that FINRA recklessly pursued high-risk investment strategies that were not appropriate for preserving capital. (Read our previous Stockbroker Fraud Blog post <\/a>to find out more.) Last month, Judge John Mott ruled in favor of Amerivet and noted that pursuant to Section 220, the broker-dealer had asserted a proper purpose for wanting to make its inspection.<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

The Financial Industry Regulatory Authority wants the District of Columbia Court of Appeals to reverse the D.C. Superior Court’s decision to not dismiss Amerivet Securities Inc.\u2019s lawsuit against the SRO. The broker-dealer wants to inspect FINRA\u2019s records and books. Amerivet Securities filed its complaint in August 2009 under the Delaware General Corporation Law\u2019s Section 220, […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3903,3752,3739,3740],"tags":[],"class_list":["post-5155","post","type-post","status-publish","format-standard","hentry","category-amerivet-securities-inc","category-financial-firms","category-finra","category-miscellaneous"],"yoast_head":"\nFINRA Wants Amerivet Securities Inc.\u2019s Lawsuit Seeking to Inspect the SRO's Records Dismissed — Investor Lawyers Blog — March 26, 2011<\/title>\n<meta name=\"description\" content=\"The Financial Industry Regulatory Authority wants the District of Columbia Court of Appeals to reverse the D.C. 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