Malecki Law is currently investigating allegations against Securities America, Inc. and its terminated financial adviser, Hector Anthony May. Mr. May was employed almost twenty years with Securities America at its New City, New York office, and was terminated in March of 2018 in relation to an ongoing criminal investigation by…
Wall Street is constantly crafting complex and volatile products that somehow end up in the investment accounts on Main Street. The latest turbulence in the stock markets has already been in part attributed to one of the latest Wall Street machinations: exchange-traded-products (ETPs) linked to volatile exchanges – specifically, products…
When you are placed on administrative leave, it can seem like the world is collapsing around you. It might be, but how you respond and hiring counsel could change the outcome. Before making any rash decisions, it is important to understand just what has happened, what is likely to happen…
Yesterday, a Financial Industry Regulatory Authority (FINRA) arbitration panel in Boca Raton, Florida awarded Malecki Law attorneys $397,823.00 for principal investment losses against Morgan Stanley & Co., LLC. Malecki Law brought the case on behalf of an elderly and retired couple with conservative investment objectives on claims that Morgan Stanley…
It seems like every day there is a new “hot stock” being pushed by financial pundits and brokerage houses alike. Seadrill Limited (ticker symbol, SDRL) was once one of these hot stocks, but it has since fallen from grace, with wide reports that it will be declaring chapter 11 bankruptcy…
This is Part 2 of an article we posted last week on former NBA-great, Tim Duncan, where we introduced the investing lessons that could be gleaned from Duncan’s relationship with his former financial adviser, Charles A. Banks, who was permanently barred from the securities industry and is now serving a…
Last month we learned that Tim Duncan’s financial adviser was sentenced by a federal court to four years in prison for defrauding the NBA legend of $7.5 million. Duncan earned over $220 million during his playing career, so he is by no means financially ruined, but there are some good…
It takes a lot of courage to report illegal or fraudulent misconduct by one’s own employer. This is because being a whistleblower carries significant risks. Whistleblowers not only risk their current employment, but possible ongoing retaliation that can harm their industry reputation and ability to find work with employers in…
Financial exploitation of the elderly by a financial advisor can take many shapes and forms, and it is indeed possible to recover one’s financial losses from the broker or financial institution who carried out and supervised the misconduct. Wrongdoing by a financial professional can be difficult to expose because it…
Can I Sue My Brokerage Firm for Filing a False Form U5? Financial firms that deal in securities do carry legal liability for filing a Form U5 with false information, and financial advisors can indeed sue their former firms for filing an inaccurate Form U5. Whenever a brokerage firm terminates…