Smiley Bishop & Porter LLP

Securities Arbitration & Business Litigation Attorneys

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SBP Represents Clients of Former Broker Blake Richards

December 11, 2014 by lmitchum

Smiley Bishop & Porter has been engaged to represent former clients of Blake Richards, a Buford, Georgia broker who has been barred from the securities industry for fraud and misappropriation. Richards was employed by several firms including H&R Block Financial Advisors, Ameriprise Advisor Services, Inc. and LPL Financial, Inc. Richards defrauded his clients, who included […]

Filed Under: Current Investigations Tagged With: Atlanta investment fraud attorney, Atlanta securities fraud lawyer, Atlanta Securities Lawyers, Atlanta stock fraud attorney, Investment Fraud Attorney, Securities Fraud Lawyer

LPL Financial Faces Scrutiny

March 28, 2013 by lmitchum

Although you may not have heard of it, LPL Financial is a big brokerage firm with big problems. LPL is the nation’s fourth largest brokerage, after Wells Fargo, Morgan Stanley and Merrill Lynch. According to a March 21, 2013 article in the New York Times, LPL is facing a flood of complaints from state regulators […]

Filed Under: Blog Tagged With: Atlanta investment fraud attorney, Atlanta securities fraud lawyer, Atlanta Securities Lawyers, FINRA, LPL Financial, Merrill Lynch, Morgan Stanley, REITs, Wells Fargo

Wells Fargo Broker and Poet Sanctioned for Defrauding Widow

March 15, 2013 by lmitchum

Adorean Boleancu was a Wells Fargo Private Banker and Senior Vice President who the San Francisco Sentinel described in 2008 as the “Hottest Financial Advisor to the Swells.” One of his clients (but maybe not one of the “Swells”) was a woman the Financial Industry Regulatory Authority (FINRA) characterized as an elderly, inexperienced and unsophisticated […]

Filed Under: Blog Tagged With: Atlanta investment fraud attorney, Atlanta securities fraud lawyer, Atlanta securities law firm, Atlanta Securities Lawyers, Investment Fraud Attorney, Wells Fargo

TICs That Bite Investors

February 20, 2013 by lmitchum

Smiley Bishop & Porter is pursuing claims against stock brokerage firms that made unsuitable recommendations that their clients invest in tenancy in common (TIC) properties. A TIC is a form of property ownership in which several people individually own an undivided part of an entire income producing property like an office building, warehouse or retail […]

Filed Under: Investment Products Tagged With: 1031 exchange, Atlanta investment fraud attorney, Atlanta Securities arbitration attorney, Atlanta securities fraud lawyer, Atlanta Securities Lawyers, FINRA, tenancy in common, TIC

FINRA Head Explains Perils of Complex Investment Products

October 31, 2012 by lmitchum

Richard G. Ketchum, Chairman and CEO of FINRA, appeared before the securities industry trade group SIFMA at its Complex Products Forum on September 27, 2012 in New York to admonish brokerage firms about the perils and obligations involved in marketing complex investment products to investors. According to Ketchum, while there is no legal definition of […]

Filed Under: Blog Tagged With: asset-backed securities, Atlanta investment fraud attorney, Atlanta Securities arbitration attorney, Atlanta securities law firm, Atlanta Securities Lawyers, Atlanta stock fraud attorney, Collateralized Debt Obligations, complex investment products, FINRA, leveraged and inverse ETFs, structured notes

Houston & Lett v. Wells Fargo Advisors

February 21, 2012 by lmitchum

(FINRA, 2011) Elderly Investor Recovers Losses Tied to UIT After a four day hearing, a panel of FINRA arbitrators awarded $130,000.00 in compensatory damages to our clients.  The damages were for losses incurred by an elderly woman with Alzheimer’s disease whose funds were invested primarily in high-risk securities, including a Claymore Unit Investment Trust (“UIT”).

Filed Under: Winning Cases Tagged With: Atlanta investment fraud attorney, Atlanta Securities arbitration attorney, Atlanta securities fraud lawyer, Atlanta securities law firm, Atlanta Securities Lawyers, Atlanta stock fraud attorney, claymore, UIT, unit investment trust

What’s a UIT?

December 7, 2011 by lmitchum

With apologies to “My Cousin Vinnie,” a UIT is a Unit Investment Trust. UITs are investment products that brokers love to sell and investors should avoid. UITs are portfolios of stocks, bonds, or mutual funds which are assembled by trustees and then sold in units consisting of a portion of all of the assets in […]

Filed Under: Blog Tagged With: Atlanta investment fraud attorney, Atlanta Securities arbitration attorney, Atlanta securities fraud lawyer, Atlanta securities law firm, Atlanta stock fraud attorney, UIT

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