Securities fraud attorneys are currently investigating potential claims on behalf of investors who suffered losses as a result of their Facebook Inc. investments with Fidelity Investments. Allegedly there may have been execution problems at Fidelity Investments in regards to the Facebook stock. Reportedly, following Facebook’s initial public offering, “thousands” of…
ETFs (exchange traded funds) and ETNs (exchange traded notes) have recently gained a significant amount of attention in the securities industry. Securities fraud attorneys have been filing arbitration claims on behalf of investors who were unsuitably recommended ETFs or ETNs and suffered significant losses as a result. The Financial Industry…
On February 9, 2012, ex-broker James Scott McKee was charged with aggravated theft in the first degree. As a result of his broker misconduct, McKee faces four charges of theft. In addition, a complaint has been filed against him with the Financial Industry Regulatory Authority (FINRA). McKee was formally affiliated…
On December 14, 2011, a class action lawsuit was filed against Bank of New York Mellon Corporation, also known as BNY Mellon, in the United States District Court of the Southern District of New York. The lawsuit was filed for the class period of February 28, 2008, to August 11,…
The Federal Housing Finance Agency (FHFA), acting as conservator for Fannie Mae and Freddie Mac, has filed securities lawsuits against a total of 17 financial entities in both federal and state courts. States in which the lawsuits were filed are New York and Connecticut. Financial institutions affected by the lawsuits,…
According to a recent press release from the Financial Industry Regulatory Authority (FINRA), Morgan Stanley & Co. Inc. and Morgan Stanley Smith Barney LLC, together were fined $1 million in securities arbitration. Furthermore, Morgan Stanley was ordered to pay $371,000 in restitution and interest. The restitution and interest will go…
We are investigating former Morgan Stanley Smith Barney financial adviser Roger Haigney for possibly misappropriating funds from clients. Mr. Haigney operated out of a branch office in Ft. Lauderdale, Florida but worked with customers in New York and possibly other places. If you’ve lost money because of Mr. Haigney, you…
Ryan Kimura, a former Morgan Stanley Dean Witter stockbroker in Honolulu, Hawaii, was sentenced to 57 months in prison. In addition, he will pay $1.5 million to Morgan Stanley and over $500,000 plus interest to the Internal Revenue Service. Payment to the IRS will cover tax losses from 2000-2007. Kimura…
Jennifer Kim, an ex-Morgan Stanley trader, will pay $25,000 and is barred from broker-dealer association for three years in her settlement with the SEC regarding its claim that she concealed trades and falsified books. The firm’s risk limits were exceeded by the proprietary trades she concealed, intending to cancel the…