|
|
|
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. |
|
|
|
|
|
Doctor charged in Jackson's death due in court
Headline Legal News |
2010/08/23 16:14
|
The doctor charged in Michael Jackson's death is due back in court for a scheduling hearing that will determine when prosecutors will publicly present some of their evidence. Dr. Conrad Murray is required to attend Monday's hearing, during which a Los Angeles judge is expected to schedule a preliminary hearing for later this year. The judge will decide at that hearing whether there is enough evidence for the involuntary manslaughter case against the cardiologist to continue. Murray, who maintains offices in Las Vegas and Houston, was charged in February for administering a lethal dose of anesthetic propofol to Jackson. Murray has pleaded not guilty and his attorneys have said the physician did not give Jackson anything that "should have" killed him.
|
|
|
|
|
|
Paralegal, husband indicted in $1 million law-firm embezzlement
Headline Legal News |
2010/08/18 02:29
|
A paralegal and her husband have been indicted on suspicion of embezzling more than $1 million from the law firm where she worked. The suspects are Rosanne and Michael Stogner. A grand jury indicted them this month in a series of thefts from Oaxaca, Bernal & Associates between March 2001 and May 2007. Rosanne Stogner declined Monday to talk about the charges and her attorney, Dolph Quijano, did not return calls. Rosanne Stogner was employed at the law firm at 1515 Montana as a paralegal and an office manager from 1999 to 2007, according to a complaint affidavit by police. Her responsibilities included preparing case files and paying bills. But she also allegedly paid herself money to which she was not entitled. Police alleged in the affidavit that Stogner made out checks to herself, to her husband, to his fence company and even to her daughter's personal trainer. |
|
|
|
|
|
BP Deposits $3 Billion in Spill Fund
Headline Legal News |
2010/08/09 16:01
|
BP PLC said Monday that it has made an initial deposit of $3 billion into a $20 billion spill-recovery fund. BP said it was making the deposit earlier than the originally scheduled Sept. 30 deadline to show its commitment to restoring the livelihoods of people affected by the worst offshore oil spill in history. The company said it would make an additional $2 billion deposit in the fourth quarter. In June, BP agreed to set up the fund following a meeting between company Chairman Carl-Henric Svanberg and then-Chief Executive Tony Hayward with U.S. President Barack Obama and senior administration officials. BP said the account would be administered by a newly established trust overseen by former U.S. District Judge John Martin and by Kent Syverud, dean of the Washington University School of Law. Citigroup Inc. will serve as corporate trustee. "We are pleased that BP made an initial contribution and has taken an important step toward honoring its commitment to the President and the residents and business owners in the Gulf region," Associate Attorney General Tom Perrelli said in a statement. "We have made clear that the company still needs to ensure that the necessary funds will be available if something happens to the subsidiary that established the trust and we look forward to completion of an appropriate security arrangement in the near future." |
|
|
|
|
|
Mo. man pleads guilty in 10-fatality Okla. wreck
Headline Legal News |
2010/08/03 16:03
|
A former Missouri truck driver charged in the deaths of 10 people in a northeast Oklahoma traffic collision has been sentenced to 30 days in jail and 10 years probation. Ottawa County District Attorney Eddie Wyant said in a statement that 77-year-old Donald L. Creed of Willard, Mo., pleaded guilty Monday to 10 counts of misdemeanor negligent homicide. An Oklahoma Highway Patrol report says it appeared the tractor-trailer Creed was driving June 26, 2009 didn't slow before it ran into traffic that had stopped for an earlier accident on Interstate 44. Creed was driving for Kansas City, Kan.-based Associated Wholesale Grocers, but has since retired. A message seeking comment was left for to Creed's attorney, Paul Brunton. |
|
|
|
|
|
Murder conviction of mom reversed in California
Headline Legal News |
2010/08/03 16:02
|
An appeals court panel has reversed the murder conviction of a mother accused of driving her teenage son and his friends to a Southern California park where a 13-year-old rival gang member was stabbed to death. The 2nd District Court of Appeal panel ruled 2-1 on Monday that jurors in the case of 33-year-old Eva Daley were given an "impermissibly ambiguous" jury instruction during the 2008 trial. Associate Justice Laurie D. Zelon wrote that case records don't show the jury based its verdict on a legally valid theory, so the conviction should be reversed. Daley had been convicted of second-degree murder for the 2007 death of Jose Cano. Prosecutors argued that Daley wanted revenge because Cano allegedly stabbed her son six months earlier. |
|
|
|
|
|
Judge delays injunction in Neb. immigration suits
Headline Legal News |
2010/07/29 10:21
|
A judge says she's not sure whether lawsuits filed to block a Nebraska city's ban on hiring and renting to illegal immigrants should be heard in federal or state court. U.S. District Judge Laurie Smith Camp on Wednesday gave attorneys for the American Civil Liberties Union and the Mexican American Legal Defense & Educational Fund two weeks to submit briefs explaining why their suits belong in federal court. The move delays any ruling about whether to block the city of Fremont's voter-approved ban. But it still won't go into effect this week. The City Council has temporarily suspended the ordinance until the lawsuits are resolved. Some in Fremont say the ordinance makes up for what they call lax federal law enforcement. Others argue it could fuel discrimination. |
|
|
|
|
Headline Legal News for You to Reach America's Best Legal Professionals. The latest legal news and information - Law Firm, Lawyer and Legal Professional news in the Media. |
|
|