Securities Lawyer Interviews

Puerto Rico Investors who purchased UBS Puerto Rico closed-end funds may have experienced a dramatic, unexpected drop in the value of their accounts. Christopher Gray, senior attorney at the Law Office of Christopher J. Gray, PC, says some investors may have believed certain UBS Puerto Rico funds were safe investments, when in fact they were allegedly far riskier than investors thought.

Naples, FL When it comes to securities fraud, many people think a lawsuit is the only way for them to recover lost money. So they are surprised when a lawyer informs them that they must go through the Financial Industry Regulatory Authority (FINRA) to file their complaint. Kristian Kraszewski, managing partner of the securities department at Kyros Law Offices, says FINRA dispute resolution is a good way for investors to deal with their stock fraud or securities fraud complaints.

Kansas City, MO Some retirees and people nearing retirement who purchased variable annuities for retirement income were very surprised to receive letters informing them that their guaranteed variable annuity payment was not so guaranteed. Diane Nygaard, partner at Kenner Schmitt Nygaard, LLC, says insurance companies have been backing away from promises of lifetime income to people who put their money in variable annuities.

Chicago, IL Attorney Howard Prossnitz firmly believes his clients and many of the 12,000 other Morgan Keegan (MK) bond investors that filed a securities fraud class action against the now-defunct investment firm Morgan Keegan are being offered a raw deal.

Washington, DC Last November, Matt Wessler, an attorney at Public Justice, argued an ERISA case before the Supreme Court that will impact every ERISA insurer in the country and almost 200 million Americans covered by the ERISA plan.

New York, NY When it comes to securities fraud claims, one of the areas of concern is suitability violations--when a broker-dealer or financial advisor recommends investment products that are unsuitable for the client. Christopher Gray, senior attorney at Law Office of Christopher J. Gray, PC, says he is seeing numerous suitability violation claims related to the sale of non-exchange traded real estate investment trusts. Those claims may result in an arbitration being filed on behalf of the investor.

Rochester, NY When clients make allegations of inappropriate investments, such as the allegations against William Tatro, it can be easy to dismiss the complaints as being made by disgruntled former Bill Tatro and Eagle Steward clients. But behind some allegations are claims of large sums of money being lost in unsuitable investments and finances being devastated as a result.

Rochester, NY When clients turn to a financial advisor like William Tatro, or a financial firm such as Eagle Steward or First Allied Securities, they expect their money will be put in investments suitable to their risk tolerance and financial needs. An unsuitable investment is one that goes against the client's risk tolerance and financial needs. For example, a retired person can tolerate a lower degree of risk and may require more access to his money than a younger investor, meaning the retired person's account should have a low degree of risk and easy accessibility.

New York, NY New York City super-lawyer Michael Spencer, best known for prevailing in a multi-billion dollar class-action suit against French media conglomerate Vivendi for deceiving investors, says he sees "opportunities" in Canada, and may prove to be a game changer in this country now that he has qualified to admission to the Ontario bar and is ready to robe up in Canada.

Chicago, IL Two years on and a bit more, attorneys like Daxton White are still filing suit or doing FINRA (Financial Industry Regulatory Authority) mediation and arbitration hearings for clients who were bilked, defrauded, led down the garden path and otherwise separated from their money by unscrupulous and indeed sometimes criminal brokers and investment companies.