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Crisis-Era Muni Funds Haunt Wall Street Brokerages

Wall Street Journal

Two years after the credit-market meltdown hit a once-booming sector of the municipal-bond market, Wall Street brokerage firms are being ordered to pay millions to investors who lost big on what some thought were low-risk investments. This month, an investor arbitration panel awarded a California family $2.1 million, the full amount of its losses on […]

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Court Denies Morgan Keegan's Request to Overturn Award

Dow Jones

An Alabama state court has denied a request by Morgan Keegan & Co. to fully overturn a securities arbitration award entered in favor of an investor, disagreeing with the company’s arguments that an arbitrator was allegedly biased. Judge Nicole Gordon Still, a civil division judge in Birmingham, affirmed a $220,000 award in favor of United […]

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Citigroup Global Markets, Inc. Found Liable For Sale of Mat Three To Investors

A Los Angeles based Financial Industry Regulatory Authority (FINRA) arbitration panel awarded $550,504 to a married couple who are clients of Aidikoff, Uhl & Bakhtiari.  The award represents a return of 100 percent of the client’s losses as a result of their purchase of Mat Three. Mat Three was a leveraged municipal arbitrage hedge fund […]

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Citigroup Global Markets, Inc. Found Liable For Sale of Mat Five To Investors

BEVERLY HILLS, Calif., May 12, 2010 – A Los Angeles based Financial Industry Regulatory Authority (FINRA) arbitration panel awarded more than $1.7 million to three clients of Aidikoff, Uhl & Bakhtiari and Maddox, Hargett and Caruso, P.C. in connection with their purchases of Mat Five. Mat Five was a leveraged municipal arbitrage hedge fund launched […]

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Pacific Life takes a punch at LPL over potentially millions in lawsuits

Investment News

By Bruce Kelly LPL Investment Holdings Inc. and Pacific Life Insurance Co. are staring each other down over which firm will have to pony up the potentially millions of dollars in claims stemming from fraud suits against a rogue broker from one of the three independent-contractor firms LPL acquired from Pac Life two years ago. […]

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