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San Luis Obispo Tribune
Dozens of local investors – clients of Jeffrey Forrest of WealthWise LLC in San Luis Obispo-have lost millions of dollars in a equity fund valued at more than $46 million that was wiped out in August, according to legal documents filed in recent weeks. The clients-among them a quadriplegic man, a retired nurse, a stay-at-home […]
Investment Dealers Digest
Following the collapse this summer of two Bear Stearns hedge funds – its High Grade Structured Credit Strategies Master Fund and its High Grade Structured Credit Strategies Enhanced Leverage Master – disgruntled investors, both in the US and overseas, are teaming up to bring legal action against the Wall Street firm. Several complaints are being […]
New York Post
August 28, 2007 — Investors who put money into two Bear Stearns hedge funds that blew up because of bad bets on subprime mortgages still might get a chance to recover a bit of their investment. A federal judge in Manhattan yesterday temporarily blocked investors from seizing the assets of the two funds, but said […]
Wall Street Journal
Big investors aren’t the only ones getting burned by mortgage investments. Some brokerage firms who put their customers in risky mortgage investments now have small investors fighting to get their money back. That includes customers of Irvine, Calif., brokerage firm Brookstreet Securities Corp., which shut down last month after the value of some of its […]
Orange County Register
Wedbush Morgan found liable in suit filed by 22 clients who said they were sold riskier securities than represented. By MARY ANN MILBOURN THE ORANGE COUNTY REGISTER Wedbush Morgan Securities Inc. in Newport Beach must pay $3.8 million in damages and legal fees in the first of several cases involving its sale of a form […]