A Manhattan federal judge on Tuesday consolidated three fraud class action suits claiming Bermuda-based Seadrill Ltd. misled investors with vows to preserve its chunky dividend payments, adding to the original stock-purchasing plaintiffs a new universe of claimants who bought options in the offshore drilling giant. U.S. District Judge Lorna G. Schofield’s move set up a […]
The Financial Industry Regulatory Authority (FINRA) and The Nasdaq Stock Market LLC (Nasdaq) announced today that they jointly censured and fined Wedbush Securities Inc. $675,000 for supervisory violations in connection with its handling of a client’s redemption activity and trading of leveraged exchange-traded funds (ETFs) that led to chronic fails to deliver in several ETFs […]
An prudent investment strategy starts with an asset allocation suitable for the portfolio’s objective. The allocation should be built upon reasonable expectations for risk and returns, and should use diversified investments to avoid exposure to unnecessary risks. Both asset allocation and diversification are rooted in the idea of balance. Because all investments involve risk, investors […]
Kenneth Bolton, a current broker-dealer at Sandlapper Securities in Greenville, South Carolina. According to his Financial Industry Regulatory Authority (FINRA) BrokerCheck, Bolton allegedly breached fiduciary duty, misrepresented and omitted material facts, recommended unsuitable investments, and executed unauthorized trades, among other transgressions. Bolton was registered with the following firms: American Eagle Securities, First Investors Corporation, E.F. […]
The Securities and Exchange Commission today charged a Rhode Island agency and its bond underwriter Wells Fargo Securities with defrauding investors in a municipal bond offering to finance startup video game company 38 Studios. The Rhode Island Economic Development Corporation (RIEDC, now called the Rhode Island Commerce Corporation) issued $75 million in bonds for the […]