SMH Capital and Max Silberman

Investment and Securities Fraud Lawyer - Levin, Papantonio, Thomas, Mitchell, Rafferty & Proctor

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Levin, Papantonio, Thomas, Mitchell, Rafferty & Proctor, P.A. is investigating the management of portfolios at SMH Capital, Inc. There are indications that many accounts under the direction of Max Silberman and other brokers were unsuitable in relation to the risk tolerance of the investors. Customers with little investment experience who were seeking stable investments were often sold highly risky investments. Further, many portfolios were exposed to naked options which can lead to substantial losses.

In conjunction, Levin, Papantonio, Thomas, Mitchell, Rafferty & Proctor, P.A. is exploring the sale of Franklin Bank common stock to SMH customers. SMH was the exclusive placement agent at issuance, and had an incentive to sell as many shares as possible. Levin, Papantonio, Thomas, Mitchell, Rafferty & Proctor, P.A. believes that these incentives led to unsuitable concentrations of a single financial stock position in portfolios purporting to be low-risk.

If your portfolio is managed at SMH, if you are a client of Max Silberman, or if you’ve been sold positions in Franklin Bank, please contact Levin, Papantonio, Thomas, Mitchell, Rafferty & Proctor, P.A. for an assessment of your potential claim.