Tag: Unsuitable Investment Advice

Russian Stock Investment Losses Rattle Investors

March 09, 2022

Russian stock losses, margin calls, and pension fund losses are on the rise in light of Russia’s actions in Ukraine in early 2022. National investment...

RICHARD WESSELT INVESTOR ALERT: National Investor Fraud Law Firm KlaymanToskes Announces Investigation of FINRA Barred Financial Advisor Richard Wesselt

November 04, 2021

Financial Advisor Richard Wesselt has been barred by FINRA. FINRA barred financial advisor Richard Wesselt made unsuitable recommendations that did not take into account his...

DAVID LERNER ASSOCIATES INVESTOR ALERT: KlaymanToskes Investigates Proprietary Products Sold at Investor’s Expense

September 30, 2021

Investigation into David Lerner Associates Proprietary Products: Energy 11 LP, Energy 12 LP, and Spirit of America Fund In November 2020, KlaymanToskes launched an investigation...

Adam Belardino, Ex-MML Investors Services Rep., Named In FINRA Complaint

July 19, 2021

FINRA recently named Adam Belardino of New Rochelle as a Respondent in a Complaint. FINRA alleges that Belardino failed to appear for on-the-record testimony. Belardino...

ATTENTION SPAC INVESTORS: KlaymanToskes Investigates Losses in Excess of $250,000 from Investments in Electric Vehicle Industry Stocks Recommended by Full-Service Brokerage Firms

April 30, 2021

KlaymanToskes announces an investigation on behalf of investors who sustained losses in excess of $250,000 in Electric Vehicle Industry Stock investments funded through Special Purpose...

BDC INVESTOR ALERT: Medley Capital Corp Files for Bankruptcy Protection in the Wake of Portfolio Loan Losses Attributed to the COVID Pandemic

April 05, 2021

On March 7, 2021, Medley Capital Corp. (NYSE: MCC), a direct subsidiary of Medley Management Inc. (NYSE: MDLY), filed for Bankruptcy Protection from creditors –...

LORDSTOWN MOTORS CORP CLASS ACTION ALERT: Securities Law Firm KlaymanToskes Comments on Recent Class Action Lawsuit in Electric Vehicle Truck Manufacturer

March 22, 2021

Boca Raton, Florida -- March 22, 2021 -- The Securities Law Firm of KlaymanToskes provides a Lordstown Motors Corp. (NASDAQ:RIDE) Alert to shareholders concerning the...

FINRA Fines VALIC Financial Advisors $350,000 for Failure to Supervise Variable Annuity Sales Practices

March 19, 2021

On January 8, 2021, VALIC Financial Advisors agreed to a Letter of Acceptance, Waiver and Consent (AWC) (Case No. 2018060548501)  which included a Fine of...

NOTICE TO WORKHORSE GROUP SHAREHOLDERS: Securities Law Firm KlaymanToskes Comments on Recent Class Action Lawsuit in Electric Vehicle Company

March 16, 2021

Boca Raton, Florida -- March 16, 2021 -- The Securities Law Firm of KlaymanToskes provides notice to all Workhorse Group, Inc. (NYSE:WKHS) shareholders concerning the...

KlaymanToskes Investigates David Lerner Associates Recommended Investments in Proprietary Non-Traded Investments Concentrated in Energy Sector

November 17, 2020

National securities fraud law firm, KlaymanToskes, announces  its investigation into David Lerner Associates for the unsuitable concentration in proprietary products invested non-traded Oil & Gas...

SEC Charges Broker-Dealers and Investment Advisory Firms for the Sales of Complex Exchange-Traded Products With More than $3 Million Returned to Retail Investors

November 13, 2020

The securities industry watchdog, the Securities and Exchange Commission (“SC”) filed settled actions against three investment advisory firms and two dually-registered broker-dealer and advisory firms...

ATTENTION CARNIVAL EMPLOYEES/INVESTORS: KlaymanToskes Commences Investigation into Damages Sustained by Investors in Carnival Stock held with Full-Service Brokerage Firms During Coronavirus Pandemic

May 06, 2020

KlaymanToskes, www.klaymantoskes.com, announced today that it is investigating damages sustained by current and former employees and investors of Carnival Corporation (NYSE:CCL) (“Carnival”) who held large,...

ATTENTION ROYAL CARIBBEAN EMPLOYEES/INVESTORS: KlaymanToskes Commences Investigation into Damages Sustained in Royal Caribbean Stock held with Full-Service Brokerage Firms During Coronavirus Pandemic

May 06, 2020

KlaymanToskes, www.klaymantoskes.com, announced today that it is investigating damages sustained by current and former employees and investors of Royal Caribbean Cruises (NYSE:RCL) (“Royal Caribbean”) who...

ATTENTION INVESTORS AT FULL-SERVICE BROKERAGE FIRMS WITH FINANCIAL ADVISORS: FINRA Arbitration is the Best Means to Recovering Losses Suffered Due to Market Volatility Caused by COVID-19

April 21, 2020

KlaymanToskes, www.klaymantoskes.com, is investigating the damages sustained by investors at full-service brokerage firms who held large, unhedged concentrated positions, margin accounts, unsuitable asset allocations, or...

Recover Investment Losses Sustained in Coronavirus (COVID-19) Pandemic

April 16, 2020

Since February 21, 2020, the stock market indexes have all been suffering from staggering losses and volatility seen only few times before. Investors have suffered...

KlaymanToskes Investigated Unsuitable Covered Call Writing Strategies on Behalf of UPS Employees Who Sustained Losses from Merrill Lynch and other full Service Brokerage Firms

April 13, 2020

KlaymanToskes investigated and filed claims for UPS (NYSE: UPS) employees for losses sustained from unsuitable covered call writing strategies for concentrated UPS stock positions at Merrill...

Texas E&P Partners Expelled By FINRA for Misconduct Related to Chestnut Exploration Partners

March 30, 2017

Released March 2017 Texas E&P Partners, Inc. fka Chestnut Exploration Partners, Inc. (CRD #127228 , Richardson, Texas) and Mark Allan Plummer (CRD #4608699 Richardson, Texas)....

Broker Barred by FINRA for Excessive Trading in Client IRA Accounts

March 28, 2017

Released March 2017 Richard Gomez (CRD #4727721, Jackson Heights, New York) submitted an AWC in which he was suspended from association with any FINRA member...

NOTICE TO MORGAN STANLEY CLIENTS: KlaymanToskes Announces Investigation of Morgan Stanley Following $8 Million in SEC Fines for Exchange Traded Fund Violations

February 21, 2017

New York, NY -- February 21, 2017 – The Securities Arbitration Law Firm of KlaymanToskes www.klaymantoskes.com, announces an investigation into sales practice violations by Morgan...

KlaymanToskes Comments on President Trump’s Executive Orders Targeting DOL Retirement Advice Rule and Dodd-Frank Wall Street Reform

February 03, 2017

New York, NY – February 3, 2017 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, comments on President Trump's executive orders targeting the Department...

Another Investor Lawsuit Filed Over Puerto Rico Bonds

January 17, 2017

Caribbean News January 16, 2017 SAN JUAN, Puerto Rico -- A securities arbitration law firm on Friday filed a claim against UBS Financial Services Inc....

NOTICE TO UBS PUERTO RICO CUSTOMERS: KlaymanToskes Files $8.5 Million Suit Against UBS as it Investigates Claims for Over-Concentration in Puerto Rico Government Bonds and Closed-End Bond Funds

January 13, 2017

San Juan, Puerto Rico.  January 13, 2017 -- The Securities Arbitration Law Firm of KlaymanToskes, www.sueubspuertorico.com, together with Carlo Law Offices, P.S.C. located in Puerto...

FINRA Fines Broker for Excessive Commissions from Risky Trading Strategies

November 17, 2016

Released November 2016 Lucas Dylan Lichtman (CRD #5542092, Nanuet, New York) submitted an Offer of Settlement in which he was assessed a deferred fine of...

FINRA Fines Broker $219,000 for Private Placement Violations

November 14, 2016

Thomas Edward Brenner Jr. (CRD #1489233, Orrville, Ohio) submitted an AWC in which he was assessed a deferred fine of $30,000, suspended from association with...

NOTICE TO CURRENT AND FORMER WELLS FARGO EMPLOYEES AND CUSTOMERS – KlaymanToskes Continues to Investigate Wells Fargo Cross Selling Incentive Programs Following Regulatory Probes

November 04, 2016

New York, NY – November 4, 2016 -- The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, continues to inv estigate Wells Fargo (NYSE:WFC) and its broker dealer, Wells Fargo Advisors, for potential...

FINRA Submits Rule to SEC to Protect Against Elderly Financial Fraud

October 25, 2016

The Financial Industry Regulatory Authority (FINRA) has submitted new rule changes for the Securities Exchange Commission (SEC) to approve which is designed to help prevent...

SEC Bars LPL Financial advisor, Paul Lebel for Churning Client Mutual Fund Investments

October 24, 2016

On October 18, 2016, the Securities Exchange Commission (SEC) barred LPL Financial advisor, Paul Lebel for churning and excessively trading mutual funds in customer accounts...

FINRA Sanctions Securities America for Not Offering Certain Clients Mutual Fund Discounts

October 18, 2016

In September 2016, the Financial Industry Regulatory Authority (FINRA) sanctioned Securities America for Mutual Fund Sales Practice Violations. Securities America, Inc. (CRD #10205, La Vista,...

Wells Fargo Advisors Targeted by Plaintiff Attorneys

October 12, 2016

Published by Financial Advisor IQ October 12, 2016 Allegations of improper cross-selling methods at Wells Fargo continue to spread into its advisor business following the...

Elder Financial Fraud Victims: The Securities Arbitration Law Firm of KlaymanToskes Expands Practice to Representation of Victims of Elder Financial Fraud

September 27, 2016

Boca Raton, Florida (GLOBE NEWSWIRE) – September 27, 2015 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, expands its practice to include the representation...

UPS EMPLOYEE/SHAREHOLDER ALERT: The Securities Arbitration Law Firm of KlaymanToskes Files $500,000 FINRA Arbitration Claim on Behalf of a UPS Employee for Losses Sustained as a result of Merrill Lynch’s Unsuitable Recommendation to Invest in Rampart Options Management Services Program

August 26, 2016

NEW YORK August 26, 2016 (GLOBE NEWSWIRE) -- The securities arbitration law firm of KlaymanToskes, www.klaymantoskes.com, has filed a $500,000 FINRA arbitration claim [FINRA Case...

METLIFE VARIABLE ANNUITY ALERT — Securities Arbitration Law Firm of KlaymanToskes Announces Investigation of MetLife Securities Misconduct in Light of $25 Million in Fines and Restitution Imposed By FINRA

August 12, 2016

New York, New York (Globe Newswire) -- August 12, 2016 -- The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, announces investigation of MetLife Securities Inc....

BUSINESS DEVELOPMENT COMPANY (BDC) INVESTOR ALERT: The Securities Arbitration Law Firm of KlaymanToskes Opens Investigation into Potential Brokerage Firm Violations Related to Sale of Non-Traded Business Development Companies in Response to FINRA Targeted Examination Letter

August 10, 2016

New York (Globe Newswire) – August 10, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, has opened an investigation into potential brokerage firm...

Notice to Clients of Andrew Yocum and Morgan Stanley: The Securities Arbitration Law Firm of KlaymanToskes has Commenced an Investigation in Light of Recent Regulatory Action Barring Andrew Yocum from Acting as a Broker

August 02, 2016

New York (Globe Newswire) – August 2, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, has commenced an investigation in light of recent...

The Securities Arbitration Law Firm of KlaymanToskes Continues to Investigate and Pursue FINRA Arbitration Claims Against VSR Financial Services for Sales Practice Violations Related to Non-Traded Alternative Investments

April 06, 2016

New York (Globe Newswire) – April 7, 2016 – The Securities Arbitration Law Firm of KlaymanToskes www.klaymantoskes.com, announced today that it is continuing to investigate...

Notice to Franklin Square Energy and Power Fund Investors: The Securities Arbitration Law Firm of KlaymanToskes Launches Investigation into Potential FINRA Sales Practice Violations by Brokerage Firms

April 06, 2016

Boca Raton (Globe Newswire) – April 7, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, announces that it is conducting an investigation into...

Correction – The Securities Arbitration Law Firm of KlaymanToskes Launches Investigation into Potential Sales Practice Violations by Cetera Advisors Related to Solicited Investments in Non-Traded REITs and BDCs

April 01, 2016

New York (Globe Newswire) – April 1, 2016 – In a release issued under the headline “The Securities Arbitration Law Firm of KlaymanToskes Launches Investigation...

The Securities Arbitration Law Firm of KlaymanToskes Launches Investigation into Cetera Advisors Sales Practice Violations Related to Solicited Investments in Non-Traded REITs and BDCs

March 24, 2016

New York (Globe Newswire) – March 24, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, announces an investigation into Financial Industry Regulatory Authority (FINRA)...

The Securities Arbitration Law Firm of KlaymanToskes Launches Investigation into Sales Practice Violations of Brokerage Firms Related to Concentrated Positions in Energy Company Stocks Collateralized by Margin Loans

March 21, 2016

Boca Raton, Florida (Businesswire) – March 21, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, announces an investigation into Financial Industry Regulatory (FINRA)...

Notice to All United Development Funding IV Investors with Losses in Excess of $250,000 from the Securities Arbitration Law Firm of KlaymanToskes

March 02, 2016

New York (Globe Newswire) – March 2, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, provides notice to all United Development Funding IV (NASDAQ:UDF)...

The Securities Arbitration Law Firm of KlaymanToskes Launches Investigation into Sales Practice Violations of Brokerage Firms Related to United Development Funding IV Non-Traded REIT and Initial Public Offering

February 26, 2016

Boca Raton, Florida (BUSINESSWIRE) – February 26, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, launches an investigation into Financial Industry Regulatory Authority...

The Securities Arbitration Law Firm of KlaymanToskes Comments on Trading Halt in United Development Funding IV Shares Reported in SEC Filings

February 25, 2016

Boca Raton, Florida (Globe Newswire) February 25, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com, comments on the recent SEC Form 8-K filing...

KlaymanToskes Wins $2.25 Million FINRA Arbitration Award in Favor of Retired UPS Executive With Concentrated Stock Position Against Citigroup Global Markets

February 10, 2016

Boca Raton, Florida (GLOBE NEWSWIRE) February 10, 2016 – The Securities Arbitration Law Firm of KlaymanToskes, www.klaymantoskes.com announced a major victory today in winning a...

The Securities Arbitration Law Firm of KlaymanToskes Continues to Investigate Sales Practices Related to UBS ETRACS ETNs

January 20, 2016

Boca Raton, Florida (BUSINESSWIRE) – January 20, 2016 – The Securities Arbitration Law Firms of KlaymanToskes, www.klaymantoskes.com, continues to investigate Financial Industry Regulatory Authority (FINRA)...

The Securities Arbitration Law Firms of KlaymanToskes and Carlo Law Offices Announce Investigation of Santander Securities, LLC on Behalf of Puerto Rico Investors for FINRA Sales Practice Violations

October 13, 2015

The Securities Arbitration Law Firms of KlaymanToskes and Carlo Law Offices Continue to  Investigate Santander Securities, LLC on Behalf of Puerto Rico Investors for FINRA...

The Securities Arbitration Law Firm of KlaymanToskes Announces Investigation into UBS ETRACS ETNs Linked to Declining Energy and Commodity Prices

October 09, 2015

Boca Raton, Florida (BUSINESSWIRE) – October 9, 2015 – The Securities Arbitration Law Firms of KlaymanToskes, www.klaymantoskes.com, announces an investigation into UBS Financial Services, Inc....

The Securities Arbitration Law Firm of KlaymanToskes Investigates Claims of Customer Losses from Concentrated UPS Stock Positions Managed in Merrill Lynch’s Rampart Options Management Service (ROMS) Program

September 18, 2015

Boca Raton, Florida (GLOBE NEWSWIRE) September 18, 2015 -- The securities arbitration law firm of KlaymanToskes, www.klaymantoskes.com, announced today that it is investigating Financial Industry...

The Securities Arbitration Law Firm of KlaymanToskes Announces Investigation into Virtus AlphaSector Funds Managed by F-Squared Investments

June 25, 2015

Boca Raton, Florida (GLOBE NEWSWIRE) June 25, 2015 -- The securities arbitration law firm of KlaymanToskes, www.klaymantoskes.com, announced an investigation into sales practices related to...

LPL Financial LLC Ordered To Pay Restitution To Investors and Fines To FINRA for Failure To Supervise Sale of Non-Traded REITs, Variable Annuities and Exchange Traded Funds

May 08, 2015

Financial Industry Regulatory Authority (FINRA) sanctioned LPL Financial, LLC with fines of $10 million for, “broad supervisory failures in a number of key areas, including...

National Senior Investor Initiative Report Points To Need For Elder Financial Fraud Protection

May 01, 2015

A recent report published by securities industry regulators concerning brokerage firm examinations in 2013 that led to important insights concerning brokerage firm sales practices directed...

Why Puerto Rico Investors Pursuit of Tax Free Income Led to Financial Ruin

April 16, 2015

UBS Financial Services of Puerto Rico and its financial advisors have placed investors in great peril chasing tax-free income through investments in UBS Puerto Rico...

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