ADR World
The Financial Industry Regulatory Authority (FINRA) has issued a rule proposal aimed at limiting the number of motions to dismiss filed in its arbitration forum by restricting the grounds arbitrators could use to grant such motions. The proposed rule change to FINRA’s Industry and Customer Codes would authorize arbitrators to grant a dispositive motion prior […]
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 […]
Dow Jones
NEW YORK (Dow Jones)–When investor Chuck Highbaugh had a dispute with his broker, it took the efforts of a mediator to literally bring him back to the table. When Highbaugh accused his broker of placing him in unsuitable investments, they agreed to meet at a mediator’s home in Beverly Hills. At an impasse, Highbaugh followed […]
Total Securitization
A consortium of law firms has formed to represent investors who have lost money from their investment in the collapsed Bear Stearns hedge funds. “We figured it was better [to band] together because there’s a lot of work to be done,” said Steve Caruso, partner. The firms are targeting Bear Stearns Securities rather from the […]
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 […]