Legal Eagle Review

Investigation of Firms Who Sold Non-Traded REITs Despite FINRA Warning to Investors Continues

Written by Globe Newswire
Saturday, 15 October 2011
Houston, Texas - The Securities Law Firm of Shepherd Smith Edwards & Kantas LLP, is continuing to investigate brokerage firms who sold non-traded real estate investment trusts (REITs) in light of a recent investor alert from the Financial Industry Regulatory Authority (FINRA) warning investors of hidden risks associated with the investment.
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Class Action Lawsuit Filed Against National Union Fire Insurance Co.

Written by Milberg LLP
Saturday, 15 October 2011
Los Angeles, California - A class action lawsuit has been filed in the United States District Court for the Central District of California on behalf of designated beneficiaries of occupational accident insurance underwritten by National Union Fire Insurance Co. of Pittsburgh PA ("NUFI") purchased from NUFI's authorized agent, Associated Underwriters, Inc. ("AUI"), or AUI's related entity, United Truckers Association, (together, the "brokers") before April 1, 2008 (the "Class Period").
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Husband and Wife Indicted for Investment Fraud Scheme

Written by Legal Eagle Review
Wednesday, 12 October 2011
Washington, DC - A former FBI special agent and his wife were charged in an indictment unsealed yesterday for their roles in an alleged $1.3 million investment fraud scheme, announced Assistant Attorney General Lanny A. Breuer of the Criminal Division; U.S. Attorney for the Eastern District of Virginia Neil H. MacBride; Special Agent in Charge Michael Morehart of the FBI’s Richmond, Va., Field Office; and Keith A. Fixel, Inspector in Charge of the U.S. Postal Inspection Service (USPIS), Charlotte Division.
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SEC Announces Agenda and Panelists for Roundtable on Microcap Securities

Written by LER
Wednesday, 12 October 2011
Washington, DC - The Securities and Exchange Commission today announced the panelists and final agenda for a public roundtable on microcap securities to be held next week.
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SEC Charges Bank Executives With Hiding Millions of Dollars in Losses

Written by Legal Eagle Review
Wednesday, 12 October 2011
Washington, DC - The Securities and Exchange Commission today charged former bank executives with misleading investors about mounting loan losses at San Francisco-based United Commercial Bank during the height of the financial crisis in 2008 and 2009.
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SEC Files Emergency Action to Halt Green-Product Themed Ponzi Scheme

Written by SEC
Wednesday, 12 October 2011
Washington, DC - The Securities and Exchange Commission announced that it obtained an emergency court order today to halt a Ponzi scheme that promised investors rich returns on water-filtering natural stone pavers, but bilked them of approximately $26 million over a four-year period.
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SEC Staff Issues Risk Alert on Master Sub-account Risks

Written by SEC
Tuesday, 04 October 2011
Washington, DC - The staff of the Securities and Exchange Commission today issued a Risk Alert warning of significant concerns regarding trading through sub-accounts, and offered suggestions to help securities industry firms address those risks.
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