Menzer & Hill, P.A. Announces Investigation
Headline Legal News | 2010/09/09 16:33
e Securities Arbitration Firm of Menzer & Hill, P.A. Announces Investigation Into The Sales Practices Of Broker-Dealers That Solicited Purchases of Inverse and Leveraged Exchange-Traded Funds (ETFs)

The Securities Arbitration Firm of Menzer & Hill, P.A. (www.suemyadvisor.com) announced today that it is investigating the sales practices of brokerage firms that solicited investors to buy leveraged and inversed Exchanged-Traded Funds (“ETFs”). Many brokerage firms, through their financial advisors, are soliciting purchases in these securities as investments, with holding periods longer than one day, while others are recommending option strategies on the underlying ETFs. The Financial Industry Regulatory Authority (“FINRA”), stated in a Regulatory Notice, sent to brokerage firms June 2009, that leveraged and inverse ETFs are “highly complex financial instruments” and “are typically not suitable for retail investors who plan to hold them for more than one trading [day], particularly in volatile markets.” Brokerage firms that failed to adhere to suitability requirements could be held liable to investors that sustained losses in solicited purchases of leveraged and inverse ETFs as a result.

Investors that have purchased leveraged or inverse ETFs through a brokerage account or managed account offered by Merrill Lynch, a subsidiary of Bank of America (NYSE:BAC), Morgan Stanley Smith Barney (NYSE:MS), Wells Fargo Advisors (NYSE:WFC), Ameriprise Financial (NYSE:AMP), UBS (NYSE:UBS), LPL Financial, Raymond James (NYSE:RJF), Edward Jones, or other brokerage firms and have sustained losses should contact the attorneys at the Securities Arbitration Firm of Menzer & Hill, P.A. to determine if they have a claim for a recovery of losses.

Leveraged and inverse ETFs can be volatile and investors may have realized or unrealized losses in the following ETFs year to date, including but not limited to:

DRV down 63% (NYSEArca: DRV);
TMV down 46% (NYSEArca: TMV);
VXX down 44% (NYSEArca: VXX);
SRS down 43% (NYSEArca: SRS);
ZSL down 42% (NYSEArca: ZSL);
GAZ down 38% (NYSEArca: GAZ);
TZA down 36% (NYSEArca: TZA);
UNG down 35% (NYSEArca: UNG);
TBT down 34% (NYSEArca: TBT);
FAZ down 29% (NYSEArca: FAZ); and
UCO down 28% (NYSEArca: UCO).

For a free case evaluation or to discuss any other investment losses, please contact the Securities Arbitration Firm of Menzer & Hill, P.A., at 888-923-9223, or visit us on the web at www.suemyadvisor.com.

Menzer & Hill, P.A.
Gary Menzer, 888-923-9223
www.suemyadvisor.com



Officials rescue 37 immigrants from Calif. house
Legal Topics | 2010/09/09 10:33

Immigration authorities have rescued more than three dozen immigrants who were locked inside a sweltering boarded-up bedroom in a Southern California house.

Immigration and Customs Enforcement officials said Wednesday some of the 37 immigrants from six Latin American countries had been held for weeks in the 10-by-10-foot room in Riverside and had gone several days without food.

The immigrants, mostly men, had been stripped of their shoes and were found lying on the floor. Three children under 3 years old were also found inside the room, said Debra Parker, assistant special agent in charge for ICE Homeland Security Investigations in Riverside.

Authorities say they began searching for the house after a caller reported smugglers had threatened to kill his relative when the family could not pay for his release. After scouring the area for two days, including with an infrared-equipped helicopter, officials searched the home Tuesday afternoon.

Smugglers often hold illegal immigrants in so-called drop houses for days or weeks while collecting payment for bringing them into the country.



Court won't force Calif officials to defend Prop 8
Legal Topics | 2010/09/02 22:11

A California court has refused to order Gov. Arnold Schwarzenegger and Attorney General Jerry Brown to appeal a ruling that overturned the state's gay marriage ban.

The 3rd District Court of Appeal on Wednesday denied a conservative legal group's request to force the officials to defend voter-approved Proposition 8.

Presiding Justice Arthur Scotland did not explain why the appeals court turned down the request filed two days earlier by the Pacific Justice Institute.

The institute now plans to take the matter to the California Supreme Court, Chief Counsel Kevin Snider said Thursday.

"We are disappointed that the appellate court showed indecisiveness in trying to prevent a constitutional crisis," Snider said. "They didn't want to deal with it."

The institute maintains the attorney general and governor have the duty to uphold all laws, not just those with which they personally agree.

Chief U.S. District Judge Vaughn Walker struck down Proposition 8 as unconstitutional last month.

The measure approved by 52 percent of California voters in November 2008 amended the state Constitution to outlaw same-sex unions five months after the state Supreme Court legalized them.

The state has until Sept. 11 to challenge Walker's ruling. Both Brown and Schwarzenegger have said they don't plan an appeal.



Appeals court OKs warrantless GPS tracking by feds
Areas of Focus | 2010/08/30 16:08

The U.S. Court of Appeals for the Ninth Circuit earlier this month declined to schedule an en banc hearing, or a hearing before all judges in the ninth circuit, as requested by the defendant in a drug-related case. The defendant was seeking to suppress evidence gathered against him by federal agents who attached a GPS device to his vehicle without first obtaining a warrant.

The defendant, Juan Pineda-Moreno of Oregon, claims that U.S. Drug Enforcement Agency agents violated his Fourth Amendment rights against unreasonable search by planting, without a warrant, a tracking device on a vehicle parked in his driveway in 2007. The agents were tracking Pineda-Moreno on suspicion that he belonged to a marijuana growing operation.

A three-judge panel of the appellate court in January rejected Pineda-Moreno's claims and ruled that his constitutional rights were not violated. The court this month rejected a petition by Pineda-Moreno for a rehearing of his case by the full Ninth Circuit panel of judges.

The appellate court's ruling essentially gives law enforcement agencies in the nine Western states under the Ninth Circuit's jurisdiction the legal authority to surreptitiously enter personal property and attach a GPS tracking device on vehicles parked there without first obtaining a warrant.



Thousands sign on for $10 billion BP suit
Legal Topics | 2010/08/30 16:08

The revelation that BP's Texas City refinery emitted toxic benzene for more than a month has ignited a furor in the port community that has suffered its share of deadly industrial accidents and toxic spills.

Thousands of residents who fear they may have been exposed to the known carcinogen released at the oil refinery from April 6 to May 16 have been flooding parking lots and conference halls where local trial attorneys hosted information sessions and sought clients for class-action lawsuits against the oil giant.

BP faces the new challenge just as it is reaching a key milestone in another crisis — plugging the Gulf of Mexico well that blew out in an oil spill disaster that is costing the company billions of dollars.

On Wednesday, more than 3,400 people lined the hallways and sidewalks around the Nessler Center to sign on to a $10 billion class-action lawsuit filed Tuesday in Galveston federal court by Friendswood attorney Anthony Buzbee.

The lawsuit alleges the release of 500,000 pounds of chemicals - including 17,000 pounds of benzene - has jeopardized the health and property values of people who live and work in the area. At the nearby College of the Mainland, a separate town hall meeting drew a crowd of 600.

"I've never seen anything like this," Buzbee said, looking at the lines waiting to enter a large room at the civic center where lawyers helped people fill out paperwork. "I can't believe this is mass hysteria and that everybody here is a faker," Buzbee said.

Webster-based lawyer Chad Pinkerton said he's met with about 8,000 residents over the past week. "I believe this is probably the largest prolonged release in Texas history and many, many people are sick," he said.

Word of the lawsuits spread this week, propelled in part by rumors that BP was cutting checks to head off the benzene claims from the $20 billion fund established to pay claims related to the oil spill.



Toyota Recalls Corolla Sedans and Matrix Hatchbacks
Areas of Focus | 2010/08/30 10:07

The popularity of Toyota took another blow last week as the company announced another in what seems to be a regular series of recalls.

Apparently there have been issues with stalling engines in the 2005 through 2008 Matrix Hatchbacks and Corolla Sedans. This particular recall encompasses over one million cars sold in the United States and Canada.

The repercussions of the ongoing recalls can be clearly seen in the value of the stock for Toyota, and a widespread wave of negative feedback from Toyota owners. Sales of Toyota vehicles have dropped considerably this year on a nationwide level.

If you own one of these models, Toyota has announced that you will be receiving a notification of the recall sometime during the month of September. If you do not receive a notification, visit the dealership that sold you the car for further action.



Shapiro & Fishman accuses McCollum of grandstanding
Attorney News | 2010/08/23 16:14

Law firm Shapiro & Fishman has accused Attorney General Bill McCollum of pre-election grandstanding and “abuse of power” in connection with McCollum’s recent announcement that his office is conducting a foreclosure fraud investigation into that firm and two others.

The allegations are in response to a coordinated investigation announced by McCollum during an Aug. 10 press conference. McCollum said his office is looking at whether the three South Florida firms engaged in unfair and deceptive actions in their handling of foreclosure cases.

The other firms were the Law Offices of Marshall C. Watson in Fort Lauderdale and the Law Offices of David J. Stern, P.A. in Plantation.

The firm’s response came Friday in a motion to quash a subpoena in Palm Beach County Circuit Court.



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