Con artists have become increasingly sophisticated when attempting to scam investors. Social media, promotional videos, and emails have widened a con artist’s net. It can be challenging to determine whether an investment opportunity is legitimate or not. Here are three common tricks used in investment scams. It’s important to recognize these red flags to help […]
In New York, throughout the United States and its territories like Puerto Rico, people place an immense amount of trust in their financial advisors and representatives. In many cases, these companies and their employees perform in an aboveboard fashion with the clients’ interests coming to the forefront. Unfortunately, there are situations where these same companies […]
Shareholders for CBS requested a federal judge in New York to provide a class-action certification in a 2018 lawsuit filed against the broadcasting company’s CEO, Les Moonves. The lawsuit alleges securities fraud based on the assertion that the company duped investors into purchasing stock by misrepresenting sexual misconduct allegations lodged against Moonves. Shareholders specifically accuse […]
For many of us, it happens so quickly, part of a busy morning in the office perhaps. We are going through emails, and suddenly, we find ourselves following a link to update our important banking information. Just like that, our critical personal information is in the hands of another person. No one is immune from […]
Investors in the state of New York and beyond might find themselves the victims of fraud, theft or other crimes committed by brokers. The crimes might be simple and obvious, or they could be part of an intricate long-term criminal scheme. Before filing a complaint or speaking with a lawyer, however, a client should evaluate […]
Hedge funds are a class of alternative investments. Most people have heard of hedge funds, but it’s sometimes difficult to define precisely what they do. Part of that is because hedge funds are so secretive. Investors in New York should understand that hedge funds are exempt from many of the disclosures that other investment companies […]
The Ponzi scheme is an investor’s worst nightmare. The thought of discovering that a trusted associate has absconded with your hard-fought income can keep well-meaning investors from making financial decisions with confidence. With federal authorities warning that Ponzi schemes are as prevalent as ever, protecting yourself and your finances is imperative. Although uncovering a Ponzi […]
In a lawsuit filed in a New York federal court, the Consumer Financial Protection Bureau (CFPB) accuses an investment firm and its owner of violating the unfair, deceptive, or abusive acts or practices provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The litigation seeks compensation for consumers who were allegedly deceived as […]
The Senior Safe Act was passed in 2018 to encourage brokers, advisors and other professionals in the investment industry to report suspected elder financial exploitation. The act grants immunity from legal liability in the event an employee makes a report in good faith of suspected exploitation of a senior’s assets. This immunity also extends to […]
Victims of securities fraud in New York might want to know about a recent Supreme Court decision that preserved disgorgement as an equitable remedy for securities fraud while also providing contours for its applications. Disgorgement might allow the victims of securities fraud to be made financially whole but is not intended as a punitive measure. […]