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Wall Street Journal
Two years after the credit-market meltdown hit a once-booming sector of the municipal-bond market, Wall Street brokerage firms are being ordered to pay millions to investors who lost big on what some thought were low-risk investments. This month, an investor arbitration panel awarded a California family $2.1 million, the full amount of its losses on […]
A Los Angeles based Financial Industry Regulatory Authority (FINRA) arbitration panel awarded $550,504 to a married couple. The award represents a return of 100 percent of the client’s losses as a result of their purchase of Mat Three. Mat Three was a leveraged municipal arbitrage hedge fund launched by Citigroup Global Markets, Inc. and sold […]
BEVERLY HILLS, Calif., May 12, 2010 – A Los Angeles based Financial Industry Regulatory Authority (FINRA) arbitration panel awarded more than $1.7 million to three clients in connection with their purchases of Mat Five. Mat Five was a leveraged municipal arbitrage hedge fund launched by Citigroup Global Markets, Inc. and sold through Smith Barney, part […]
The Tribune
The more than $8.8 million judgment awarded to clients of Jeffrey Forrest has been paid, six months after a financial regulatory agency determined that the former San Luis Obispo investment adviser had misrepresented a risky hedge fund as being safe. Forrest, who owned WealthWise LLC, and Associated Securities, an El Segundo-based broker-dealer with which his […]
San Diego News Network
The widow of a San Diego resident who lost trust fund money in a retirement fund advertised as being low-risk, but that invested in mortgage-backed securities, was awarded $157,498 today by an arbitration panel. The Financial Industry Regulatory Authority awarded the Everett Ross family trust 100 percent of its losses plus expert witness costs. “Although […]