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According to the WSJ today: In what will likely be a closely studied ruling, a retail investor was awarded $200,000 after a Financial Industry Regulation Authority arbitration panel decided the investor’s UBS AG (UBS) broker inappropriately sold her risky Lehman Brothers principal protected notes. The case is one of the first involving the Lehman notes […]
Indemnification dispute with the insurer won’t affect their businesses, firm insists By Bruce Kelly At the same time that LPL Holdings Inc. and the three broker-dealers it bought from Pacific Life Insurance Co. were filing suit against the insurer, LPL was reaching out to its advisers to reassure them that the dispute wouldn’t affect their […]
Investors in DBSI Inc. are only now getting a clear idea of what was going on at the Idaho-based commercial real estate investment company. There was little indication to investors that financial issues existed at DBSI until a notice they received six weeks prior to the company filing for Chapter 11 bankruptcy proceedings. However, problems […]
Scott Rothstein, partner of South Florida law firm Rothstein Rosenfeldt Adler, has found himself at the center of an FBI investigation. The Bureau is alleging that Rothstein may be the linchpin of an investment scam that could top $1 billion. Rothstein, who is out of town at an undisclosed location, is not yet being charged […]
Though taxpayer money has thus far kept embattled financial institution CIT Group, Inc. alive, the government is faced with the reality that it has made a bad investment. The company has finally filed for bankruptcy after unsuccessfully attempting to generate capital from the government, and generating capital from individual investors. CIT Group Issues The reality […]