Wells Fargo has agreed to pay $79 million to settle a class-action lawsuit related to deferred compensation for former financial advisors of the banking company. The class action covers more than 1,000 former advisers who said they were wrongly required to forfeit deferred compensation when they left Wells Fargo. The lead plaintiff, Robert Berry, said […]
Ryan Bakhtiari has been invited to participate as a speaker at the 2019 Practicing Law Institute (PLI) conference program on Tuesday, September 10, 2019. The PLI Securities Arbitration program is held at the PLI New York Center and also online by webcast. The program brings together legal professionals with securities industry regulators to discuss hot […]
On August 23, 2019, an extensive article in The Wall Street Journal (“UBS Faces Client Backlash over Options Strategy”), exposed a complex investment strategy pitched as low-risk by stockbrokers at UBS Group AG (NYSE – UBS) that has triggered a backlash from clients of its securities unit. The strategy, called Yield Enhancement Strategy, or “YES,” has reportedly […]
Out of nowhere, a $693 million loan Clover took to the market five years ago lost about a third of its value. This collapse was surprising to insiders who trade corporate loans. Clover had been operating since 1996 when it was acquired by Golden Gate which followed an usual path of private equity buyouts — […]
GPB Capital describes itself as a “New York-based alternative asset management firm that seeks to acquire income-producing private companies.” GPB raised more than $1.5 billion in capital held in private limited partnerships that invest primarily in auto dealerships and waste management businesses. Investments in GPB Capital were sold by various brokerage firms including Royal Alliance […]