Over the years that I have defended financial advisors and their firms, I have frequently spoken and written about ways to avoid the risk of being sued. I prepared a
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Securities Litigation
I Just Got A Client, Now What?
After the obvious, make and execute on investment recommendations, some are at a loss for what to do next. From my perspective, it is the next step that may mean …
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What Does The “E” in Email Mean?
Recent history shows that FINRA is going after brokers who alter client’s records. This, unfortunately, reminded me of my own bad experience as a young lawyer when defending a broker.
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Is the SEC that good? SEC Wins Every Administrative Case
In what is sure to add more “fuel to the fire,” it was recently reported that the SEC has won every case brought in its administrative courts over the last…
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SILENT FRAUD . . . OR OMISSIONS
The U.S. Court of Appeals for the Sixth Circuit affirmed a dismissal of investors’ securities claims in the wake of a bank liquidation, but left the door open to a…
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Data breaches and third-party vendors; what do you need to know.
I recently blogged about the pervasive nature of data breaches and the particular risks presented to this industry. Many firms may think that they are secure because they used a …
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SECOND CIRCUIT REQUIRES DIRECT COMMUNICATION FOR EXCHANGE ACT SECTION 10(b) LIABILITY
A divided U.S. Court of Appeals for the Second Circuit affirmed the dismissal of securities law antifraud claims against a “trusted” investor in the pump-and-dump scheme perpetrated by two defunct…
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Former AP of Defunct Firm May Enforce FINRA Arbitration Pact
The California Court of Appeals reversed a lower court’s refusal to compel a dissatisfied investor to arbitrate its dispute with a former associated person of a now defunct FINRA member…
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NO PRIVATE RIGHT OF ACTION FOR EXCHANGE ACT RULE 10b-17
The United States District Court for the District of Delaware denied a plaintiff’s attempt at a private remedy action for a violation of Securities Exchange Act of 1934 Rule 10b-17. …
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COLLUSION CLAIMS AGAINST PRIVATE EQUITY FIRM PROCEEDS
Former shareholders may pursue narrowed claims against some large private equity firms who allegedly conspired with one another minimizing competition for target companies. See Dahl v. Bain Capital Partners LLC, …
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