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Last year, at least 450 new structured products were linked to Apple, according to SLCG. Three-quarters of them were issued when the stock was at least $550. The shares closed Friday at $439.88, down $60 for the week. As a result, the value of Apple-linked products suffered a one-week drop of more than 15%, estimates […]
More than $241 million of structured notes tied to Apple face losses after a 27 percent drop in the stock of the world’s most valuable company eroded built-in cushions that protect investors. Banks issued 76 U.S. notes linked to Apple stock during the seven weeks starting Aug. 20 when the company was valued at $650 a […]
The Securities and Exchange Commission today filed fraud charges against a California-based mining company and its CEO who induced hundreds of investors to pour $16 million into a fruitless gold mining venture. The SEC alleges that Nekekim Corporation and Kenneth Carlton defrauded investors with representations that a special “complex ore” found at Nekekim’s mine site […]
On December 14, the Securities and Exchange Commission charged a Santa Monica-based hedge fund manager and his investment advisory firm with conducting a “cherry-picking” scheme by steering winning trades to their own trading accounts and favored clients to the detriment of certain hedge fund investors. They are also charged with failing to disclose the firm’s […]
Beverly Hills based securities lawyers launch of an investigation of the sales practices of LPL Financial, LLC in recommending non-traded REITs to their clients. The investigation follows the recently filed complaint by the Commonwealth of Massachusetts Securities Division into similar non-traded REIT sales practices. The Massachusetts complaint charged LPL with dishonest and unethical business practices. […]