Aidikoff, Uhl & Bakhtiari (www.securitiesarbitration.com) announces the filing of a FINRA arbitration claim against Securities America on behalf of investors in Medical Capital securities. The law firm has been contacted by investors and is preparing to file additional FINRA arbitration claims against broker dealers for losses incurred based on the recommendation to purchase Medical Capital […]
On July 2, 2009, the Securities and Exchange Commission obtained a temporary restraining order and emergency asset freeze in a $485 million offering fraud and Ponzi scheme orchestrated by Paul R. Melbye, Brendan W. Coughlin and Henry D. Harrison through a company they owned and controlled, Provident Royalties LLC. In addition to the asset freeze, […]
The Financial Industry Regulatory Authority (FINRA) announced today that it has entered into final settlements with four additional firms to settle charges relating to the sale of Auction Rate Securities (ARS) that became illiquid when auctions froze in February 2008. To date, FINRA has concluded final settlements with nine firms, imposing a total of $2.6 […]
The Financial Industry Regulatory Authority (FINRA) will launch a two-year pilot program later this fall that will allow some investors making arbitration claims to choose a panel made up of three public arbitrators instead of two public arbitrators and one non-public arbitrator, as is currently the norm. Six firms – Merrill Lynch, Citigroup Global Markets, […]
The Financial Industry Regulatory Authority (FINRA) announced today that its Board of Governors approved rule amendments designed to limit significantly the number of dispositive motions – more commonly known as motions to dismiss — filed in its arbitration forum and to impose strict sanctions against parties who engage in abusive motions practices. “In many instances […]