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New York Securities Lawyer Blog

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SEC & FINRA Order RMK to Pay $200M for Bond Funds

Below is FINRA’s press release of the $200M restitution order the SEC and FINRA levied on Regions Morgan Keegan (RMK) related to bond funds it misrepresented to investors. Big for investors. We had blogged about this in April 2010 when the SEC charged Morgan Keegan & Company, Morgan Asset Management…

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Reuters Quote by Ross Intelisano on Securities Fraud

Below is an interesting Reuters piece by Matt Goldstein which quotes Ross Intelisano regarding securities fraud and Ponzi schemes. Special Report: A fame-seeking Philly trader’s rap falls flat Photo Thu, May 12 2011 By Matthew Goldstein NEW YORK (Reuters) – Tyrone L. Gilliams Jr., a commodities trader, part-time online preacher…

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Citi Hit With $54 Million MAT Award

Sophisticated investors won a $54 million arbitration award against Citigroup Global Markets Inc. related to the MAT leveraged municipal arbitrage hedge fund. It is by far the largest FINRA award rendered against Citi related to MAT. The award in the matter named Hosier v. Citi also includes $17 million in…

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FINRA Fines UBS for Principal Protected Notes

FINRA fined UBS Financial Services, Inc. $2.5 million, and required it to pay $8.25 million in restitution for omissions and misleading statements made regarding the “principal protection” feature of Lehman Brothers100% Principal-Protection Notes (PPNs). Our firm is presently representing investors of the Lehman PPNs against UBS in arbitrations at FINRA.…

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Largest MAT Award Rendered Against Citi

A Florida FINRA panel awarded $6.4 million to an investor in Citi’s MAT municipal bond arbitrage fund this week. It’s the largest award rendered against Citi related to its MAT and Falcon proprietary fund blow-ups. The case is Berghorse v. Smith Barney (FINRA 08-04466). Although damages claimed on the award…

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Rich & Intelisano Wins Punitive Damages Award

Rich & Intelisano recently won a FINRA arbitration award which included $100,000 in punitive damages. The case is Stora, et al. v. Strasbourger, Pearson et al. (FINRA 09-01769). We represented a group of investors who were defrauded by a broker dealer and its registered representatives. Matthew Woodruff of our office…

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