LAWSUITS NEWS & LEGAL INFORMATION
InvestPrivate Inc.
Secaucus, NJ: (Jul-24-07) The National Association of Securities Dealers (NASD) brought charges against Donald Geraghty, senior vice president of InvestPrivate Inc., a New York City-based brokerage firm, alleging that he and his company misled investors. As part of a settlement with the NASD, InvestPrivate Inc. was suspended for 60 days from seeking or accepting opportunities to participate in the sale of unregistered securities. Scott Lee Mathis, its chairman and chief executive officer, was suspended for 30 days. NASD accused InvestPrivate of misleading investors with materials that contained material misrepresentations or omission, selling unregistered securities, and failing to report to NASD a customer complaint and settlement involving payments of more than $25,000.
Without admitting or denying any wrongdoing, the firm agreed to pay the $205,000 fine levied against them. Further, it also agreed to retain an independent consultant to review its policies, systems and procedures and training relating to the sale of unregistered securities through any private offerings or placements. [NORTH JERSEY MEDIA GROUP: MISLED INVESTORS]
Published on Jul-25-07
Without admitting or denying any wrongdoing, the firm agreed to pay the $205,000 fine levied against them. Further, it also agreed to retain an independent consultant to review its policies, systems and procedures and training relating to the sale of unregistered securities through any private offerings or placements. [
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