Smiley Bishop & Porter LLP

Securities Arbitration & Business Litigation Attorneys

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FINRA Announces Sanctions of Two Firms and Seven Individuals for Selling Private Placements Without Conducting a Reasonable Investigation

April 7, 2011 by jordan

FINRA Announces Sanctions of Two Firms and Seven Individuals for Selling Private Placements Without Conducting a Reasonable Investigation

According to a FINRA News Release on April 7, 2011: WASHINGTON — The Financial Industry Regulatory Authority (FINRA) today announced it has sanctioned two firms and seven individuals for selling interests in private placements without conducting a reasonable investigation. The companies whose securities were sold in these private placements were unrelated to the firms and individuals […]

Filed Under: Blog Tagged With: FINRA, Medical Capital, Private Placements, Provident Royalties, Securities Lawyers

Ameriprise Financial May Let Securities America Go Under Due To Med Cap and Provident Private Placements

March 25, 2011 by jordan

According to a report in Reuters, unnamed sources have stated that Ameriprise Financial is willing to let its broker-dealer subsidiary, Securities America, go out of business. Securities America is in financial trouble as a result of liabilities arising from its sales of $400 million in private placements of securities issued by Provident Royalties and Medical […]

Filed Under: Blog Tagged With: Ameriprise Financial, FINRA Arbitration, Medical Capital, Private Placements, Provident Royalties, Securities America

Securities America/Medical Capital and Provident Royalties

March 22, 2011 by jordan

Smiley Bishop & Porter LLP is investigating Securities America’s Medical Capital, Inc. promissory notes and Provident Royalties preferred stock. Clients have brought claims against the firm alleging that it failed to adequately investigate these products, that the investments were unsuitable, and that the firm did not disclose the products’ risks, which were substantial. The Securities […]

Filed Under: Current Investigations Tagged With: FINRA Arbitration, Investment Fraud Attorney, Medical Capital, Provident Royalties, SEC, Securities America, Securities Arbitration Attorney, Securities Fraud Lawyer, Stock Fraud Attorney

Judge Frees Investors to Pursue Medical Capital Holdings and Provident Royalties Arbitration Claims

March 21, 2011 by jordan

Brokerage firms normally want to stay out of court and force their clients to sue in arbitration; yet, Securities America, a subsidiary of Ameriprise Financial, Inc., went to court in an effort to cram down a class action settlement on its clients who had brought individual FINRA arbitration claims against it. Why? Money (of course). Securities […]

Filed Under: Blog Tagged With: Ameriprise Financial, FINRA Arbitration, Ponzi Scheme, Private Placements, Provident Royalties, SEC, Securities America, Securities Arbitration Attorney

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