Legal News Articles - Securities

MF Global Clients Can Still Recover Money through Arbitration

February 8, 2012. By Heidi Turner.

Kansas City, MO: A newly released trustee's report regarding the alleged MF Global securities fraud appears to dash hope of MF Global clients recovering their missing money, but Diane Nygaard (pictured), a securities and commodities attorney at Kenner Schmitt Nygaard, LLC, says clients can still recover their money through arbitration. Customer arbitrations, especially group arbitrations, are most likely to be successful in recovering customers' funds.

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Trustee Notes Company May Recover Funds after MF Global Stock Fraud

January 26, 2012. By Charles Benson.

New York, NY: Months after the news broke over the MF Global stock fraud case, the trustee overseeing the liquidation of the company's holdings brokerage is exploring ways to recover additional customer assets, Dow Jones reported.

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Attorney: MF Global Clients Unlikely to Recover Money without Arbitration

January 23, 2012. By Heidi Turner.

Kansas City, MO: Despite the efforts of the FBI, the Department of Justice attorneys and investigators from the SEC, CFTC and NFA, the $1.2 billion of customers' funds missing from MF Global securities have not been found. Recent reports indicate the funds have likely gone abroad, possibly indicating MF Global securities law violations. According to Diane Nygaard, a securities and commodities attorney at Kenner Schmitt Nygaard, LLC, customers of the MF Global securities firm have only three avenues to try to recover the 28 percent of their money that they have not yet received.

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Is Securities Fraud behind Bond Default in Washington State?

January 23, 2012. By Gordon Gibb.

Wenatchee, WA: There is an expectation that disgruntled bondholders tied to an arena development in Washington state will launch a lawsuit alleging securities fraud, amidst other allegations. The Town Toyota Center, located in Wenatchee, went into default December 1 and is projected to lose $400,000 in 2012. Meanwhile, investors holding $42 million in bonds are reportedly not happy.

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William Tatro Allegedly Sold Unsuitable Investments

January 12, 2012. By Heidi Turner.

Rochester, NY: Investors who have filed an arbitration against William Tatro allege he repeatedly recommended unsuitable investments for his clients. They allege that the use of a real estate investment trust as investments, as well as inverse leveraged exchange traded funds, was entirely unsuitable given investors' age and financial situation, and that Bill Tatro should have known that. They further allege that most—if not all—of Tatro's clients were given the same recommendations, despite investors being told that each account is tailored to the individual investor's needs.

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Securities Lawsuit Trends in 2011

January 11, 2012. By Heidi Turner.

New York, NY: A look back on trends in 2011 securities lawsuits shows that 2011 was not much different from previous years. The number of securities fraud lawsuits filed was reportedly in line with other years, while the payouts from securities fraud litigation was the third highest on record. The number of lawsuits linked to the credit crisis is now decreasing, although other securities lawsuits are holding steady or increasing.

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UK MF Global Clients Get Money Back

January 9, 2012. By Heidi Turner.

New York, NY: Clients of MF Global may have let out a celebratory cheer when they read about the $1.2 billion being returned to the company's clients. Unfortunately, that money is going to MF Global securities clients in Europe, not those in the United States. That means that victims of alleged MF Global securities fraud will likely still have to file an arbitration to recover their missing money, according to Diane Nygaard, a securities and commodities attorney at Kenner Schmitt Nygaard, LLC.

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Morgan Keegan Faces Mutual Fund Lawsuits

December 30, 2011. By Heidi Turner.

Memphis, TN: Morgan Keegan reportedly faces mutual fund lawsuits worth more than $1 billion, which could be a factor in the financial firm not being sold. According to The Commercial Appeal (12/01/11), Morgan Keegan mutual fund lawsuits involve mutual fund losses in eight failed funds. Although the firm is for sale, buyers could reportedly be put off of Morgan Keegan because of costly legal battles.

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Attorney: MF Global Clients Can File Arbitration to Obtain Lost Money

December 29, 2011. By Heidi Turner.

Kansas City, MO: Clients who were affected by the MF Global bankruptcy and have had their funds frozen may be eligible to file an arbitration against the company to recover lost money. Diane Nygaard, a securities and commodities attorney at Kenner Schmitt Nygaard, LLC, says among those affected by the MF Global transactions are farmers, who were hedging their crops. They, and others who invested with MF Global, may have to file an arbitration if they hope to see their money again. In fact, an arbitration might be their best hope of seeing their money.

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Not-So-Happy Holidays with California Securities Fraud

December 28, 2011. By Gordon Gibb.

Orange County, CA: There's nothing like a good securities fraud story at the end of the year to bring perspective to the task of wrapping everything up for the upcoming tax season. As much as we may lament the performance of our stocks and securities, at the end of the day, few of us find ourselves in the crosshairs of stock investment fraud. But some do. And just in time for Christmas, a California man was sent behind bars for securities fraud.

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