FINRA Still Struggling to Diversify Arbitrator Pool

The Financial Industry Regulatory Authority told Bloomberg BNA that it has dramatically expanded resources to tackle recruitment and diversity concerns, while admitting there’s more work to be done in what’s likely to be a “long slow process with incremental progress.” That’s not fast enough for attorneys who represent investors, such as Jacob H. Zamansky of …

Puerto Rico’s New Control Board Has A Huge Mess To Clean Up

Puerto Rico is still basking in the glory of Monica Puig’s gold medal win in tennis at the Olympics in Brazil. She is the first Olympic gold medal winner in any sport for the island commonwealth. Unfortunately, Puig’s victory is where the good news ends for the island. Regular readers of this blog know that …

Zamansky LLC Partner Samuel Bonderoff Interviewed by Bloomberg BNA

Being on the Plaintiff’s Side Is More Fun – Zamansky LLC partner Samuel Bonderoff answers Bloomberg BNA’s Andrea L. Ben-Yosef’s questions about ERISA litigation, including his personal experience as an ERISA litigator and his views on the United States Department of Labor’s new fiduciary rule.

SEC Examiners Aren’t Alone In Putting High-Yield Bonds Under the Microscope

Yesterday New York City-based Zamansky LLC unveiled investigations into a dozen open-end mutual funds, two hedge funds, and a closed-end fund. The investigation comes four days after Zamansky filed a $500-million, putative class-action lawsuit over the now-infamous fall of Third Avenue’s Focused Credit Fund. Click here to view the full article on mfwire.com.

Third Avenue Fund Faces $500M Investor Suit After Freeze

Third Avenue Management Co. LLC and its founder were hit with a $500 million shareholder lawsuit Friday that charges they breached their fiduciary duties with a $790 million junk-bond fund that recently froze redemptions. Third Avenue Focused Credit Fund investor William Engel accuses the firm, founder Martin Whitman and other executives of failing to maintain …

Zamansky LLC Obtains Record $3.1 Million Award in UBS-Puerto Rico Bond Fund Arbitration

On August 28, 2015, investors represented by Zamansky LLC attorneys Jacob H. Zamansky and Edward H. Glenn Jr. received a $3.1 million award for losses sustained in connection with closed-end bond fund and municipal bond investments managed by UBS-Puerto Rico. The award represents the largest to date against UBS or any other brokerage firm arising …

Pharmaceutical Giant Sanofi Under Investigation for Possible Violations of ERISA

On the heels of its agreement to pay $109 million to settle claims that it provided illegal “kickbacks” to doctors in exchange for prescribing and selling an arthritis medication, Sanofi is facing yet another allegation of violating federal “anti-kickback” laws. This time, a whistleblower lawsuit alleges that the pharmaceutical giant’s CEO and other top executives …

FINRA Countdown

A wave of FINRA arbitration is sweeping Puerto Rico and southern states in the US as the fallout from the collapse of Puerto Rican municipal bonds begins. Read More.

Federal Investigation Because of Huge Losses in Local Mutual Funds

U.S. Attorney and FBI have interviewed people of interest , the FICO stands a historic drop in these investments and securities lawyers insist that the situation is not the result of individual actions of brokers “All these allegations closed mutual funds are virtually identical. They are elderly, disabled withdrawn .” Marie Elsie Lopez Securities lawyer …

How Wall Street Fed Puerto Rico’s $70 Billion Borrowing Binge

Seven years ago, in the wake of a government shutdown caused by a $740 million budget deficit, Puerto Rican officials vowed to fix the island’s finances by 2010. Now investors are calling their bluff. In the $3.7 trillion municipal-bond market, Puerto Rico and its agencies more than doubled their borrowing since 2004 to $70 billion …