LP attorneys expound on the troubled history of ARS bonds.
Reuters)Wall Street's industry-funded watchdog does not have an official say over registered investment advisers, but it is not shy about stepping up with a solution to resolve their legal disputes.
The Financial Industry Regulatory...
Reuters) - The Financial Industry Regulatory Authority said on Monday it had sanctioned David Lerner Associates Inc to pay about $12 million to customers that bought into a $2 billion real estate investment trust (REIT) and to those who were...
David Lerner has made a fortune peddling controversial real estate investments for 20 years, but has left a trail of complaints, litigation and regulatory sanctions.
- Investors were told auction-rate debt had low or zero risk
- Appeals court says broker statements could be material
- Says lower court erred in dismissing SEC case
- Raymond James bought Morgan Keegan last month from...
Restitution Provided to Customers; Firm's Head Trader Fined and Suspended
WASHINGTON — The Financial Industry Regulatory Authority (FINRA) announced today that a FINRA hearing panel ruled that Long Island-based David...
(Reuters) - Morgan Keegan & Co is hoping to recover money lost to a professional sports agent, who was awarded $400,000 in a securities arbitration ruling against the brokerage last week.
(Reuters) - A sports agent, whose company represents star clients including Denver quarterback Tim Tebow, won $400,000 in a ruling against brokerage Morgan Keegan & Co, due to personal losses from bad bond investments.
(Reuters) - David Lerner, who owns a brokerage that regulators say misled investors in its marketing of real estate securities, is now charged with similar misdeeds for statements he made to quell anxious customers, according to a complaint.
The Securities and Exchange Commission sued Life Partners Holdings Inc. and three top executives, alleging a years-long disclosure and accounting fraud that involved misleading financial statements and backdated documents shown to auditors.