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Securities Class Action Lawsuit Filed Against Walter Investment Management Corp. (WAC) 26 Jul 2013 | 07:15 pm
On July 24, 2013, a securities class action was filed against Walter Investment Management Corp. (Walter Investment or WAC) in the Middle District of Florida. The lawsuit alleges violations of federa...
Miami Herald Reports that City of Miami May Face Charges of Federal Securities Law Violations Concerning the Sale of Municipal Bonds 20 Jul 2013 | 01:54 am
The Miami Herald is reporting that the Securities and Exchange Commission will charge City of Miami with violations of federal securities laws in connection with municipal bond sales. According to th...
SEC Issues Pump & Dump Stock Scam Warning 13 Jun 2013 | 12:24 pm
The SEC issued an interesting alert concerning pump and dump stock emails today: Pump-and-dump promoters frequently claim to have “inside” information about an impending development. Others may say th...
Investment News Reports That Arbitration Awards In Favor of Customers in Tenant-in-Common Exchange Sales Hold Steady 9 Jun 2013 | 05:31 pm
The Investment News is reporting that arbitration awards in favor of brokerage firm customers concerning sales of tenant-in-common investments are holding steady. According to the article: The number...
Special Risks with Trading on Margin 9 Jun 2013 | 05:02 pm
FINRA has issued an investor alert concerning investments purchased “on margin.” A “margin” account allows an investor to borrow money from a brokerage account to purchase additional securities. Thi...
Don’t Blame the Assistant: Court Denies Late Request for Exclusion (Opt-Out) from Class Action in Bank of America Securities Lawsuit 7 Jun 2013 | 05:01 am
A District Court Judge in the Southern District of New York has denied the request of KERS & Co. (“KERS”) to permit it to opt-out of the Bank of America Securities Litigation, Case No. 09-MD-2058. Ac...
SEC Approves Revision to the Definition of “Public Arbitrator” in FINRA’s Customer Code of Arbitration 6 Jun 2013 | 06:09 am
FINRA has issued Regulatory Notice 13-21 announcing that the Securities and Exchange Commission (“SEC”) has approved amendments to FINRA’s Code of Arbitration concerning the definition of “public arbi...
Banc of America and Wells Fargo Fined in Connection with Sales of Floating-Rate Bank Loan Funds 5 Jun 2013 | 06:21 am
Today, FINRA issued a press release announcing that it had ordered Merrill Lynch, Pierce, Fenner & Smith Incorporated, as successor for Banc of America Investment Services, Inc., to pay a fine of $900...
SEC Suspends Trading of Sixty-One Companies Over Concerns About the Accuracy and Adequacy of Publicly Disseminated Information Pursuant to § 12(k) 5 Jun 2013 | 06:02 am
On June 3, 2013, the Securities and Exchange Commission (“SEC”), pursuant to Section 12(k) of the Securities Exchange Act of 1934, temporarily suspended trading in the securities of a number of OTC is...
Florida Man Charged With Perjury and Obstruction for Providing False Testimony to SEC 5 Jun 2013 | 05:59 am
According to a press release by the United States Attorney for the Southern District of Florida, a Fort Lauderdale man was charged with obstruction and perjury in connection with a Securities and Exch...
