Recent Articles

Number of Federal Securities Fraud Cases Prosecuted Drop Significantly

Shepherd Smith & Edwards LLP
January 08, 2009 03:06

A recent New York Times article reports that according to new data, federal officials are prosecuting far fewer cases involving fraudulent stock scams than they did in 2000 before the Bush Administration came into office. According to financial and... A recent New York Times article reports that...

Former Regions Morgan Keegan Investment Funds Revise Their Names to Include Helios Brand

Shepherd Smith & Edwards LLP
January 08, 2009 03:05

Seven former Regions Morgan Keegan Investment Funds have changed their names. Each fund’s name now begins with “Helios,” to reflect the shift in management to Hyperion Brookfield Asset Management from Regions Financial. Helios is Hyperion’s brand name. Hyperion took over...Seven former Regions Morga...

Former Broker Charged with Conspiracy to Commit Wire Fraud Following Allegations He Helped Law Firm Founder Mark Dreier Defraud Hedge Funds Through Ponzi Scam

Shepherd Smith & Edwards LLP
January 06, 2009 17:07

Former broker Kosta Kovachev has been charged with conspiracy to commit wire fraud for his alleged role in assisting New York law firm founder Marc Dreier with an alleged $380 million Ponzi scheme. Dreier is the founder of Dreier LLP....Former broker Kosta Kovachev has been charged with conspiracy...

Investor Fraud Lawsuits Stemming $50 Billion Ponzi Scheme May Name Madoff's Family Members as Additional Defendants

Shepherd Smith & Edwards LLP
January 05, 2009 15:40

The civil lawsuits that will be brought by the victims of Bernard Madoff’s $50 billion fraud scam are expected to be numerous and massive. Not only will they likely target Madoff and his firm, Bernard L. Madoff Investment Securities LLC.,...The civil lawsuits that will be brought by the victims of B...

Madoff Investors Who Were Victims of “Ponzi” Scam Contact Securities Fraud Law Firm Shepherd, Smith, Edwards, & Kantas LLP to Explore Recovery Options

Shepherd Smith & Edwards LLP
January 04, 2009 20:36

Wall Street Icon Bernard Madoff’s $50 billion “Ponzi” scam may very well have bilked hundreds, even thousands, of investors of their money. Now, many of Madoff’s victims are contacting the securities fraud law firm of Shepherd, Smith, Edwards, & Kantas,...Wall Street Icon Bernard Madoff’s $50 billio...

Former Stanford Group Co. Financial Advisers Must Arbitrate Constructive Discharge Claims

Shepherd Smith & Edwards LLP
January 04, 2009 19:18

This month, the Texas Court of Appeals concluded that two ex-Stanford Group Co financial advisers must arbitrate state labor law claims that their former employer constructively discharged them for complaining about its unethical business practices. The appeals court’s decision reverses...This m...

ARS Investors Can Seek Consequential Damages Recovery Through Special Arbitration Procedure Introduced by FINRA

Shepherd Smith & Edwards LLP
December 24, 2008 04:35

This month, the Financial Industry Regulatory Authority introduced a special arbitration procedure that auction-rate securities investors can avail of to recover consequential damages. This procedure can be used by customers who are allowed to file for such damages under the...This month, the...

UBS and Citigroup to Pay Nearly $30 Billion to Tens of Thousands of ARS Investors

Shepherd Smith & Edwards LLP
December 22, 2008 17:34

UBS Financial Services, Inc., UBS Securities, LLC, and Citigroup have reached finalized settlements with the Securities and Exchange Commission to pay tens of thousands of ARS investors almost $30 billion. The settlements will resolve SEC charges that the companies misled...UBS Financial Services,...

Senior Investor’s Claim Against Wells Fargo is Remanded on Fraud in Execution by California Court of Appeal

Shepherd Smith & Edwards LLP
December 19, 2008 21:44

The California Court of Appeal has remanded a lawsuit filed by an elderly woman accusing Wells Fargo of defrauding her and her husband. The case now goes back to the Los Angeles Superior Court, where a judge must determine whether...The California Court of Appeal has remanded a lawsuit filed by an...

Former NEXT Financial Group Stockbroker’s Claim that He Was Fired for Refusing to Conceal Churning is Subject to Arbitration

Shepherd Smith & Edwards LLP
December 17, 2008 17:49

The Texas Supreme Court says that former NEXT Financial Group Inc. stockbroker Michael Clements’s claim that the brokerage firm fired him for refusing to cover up churning activity must be arbitrated. Clements was hired as a NEXT Financial regional supervisor...The Texas Supreme Court says that f...