Current Investigations

Senfina Advisors Shut Down By BlackRock Advisors Over Its Steep 2016 Losses.

On December 20, 2016, Blackstone Group LP, the large asset manager, announced that it was shutting down its two-year old Senfina Advisors after it lost 24 percent in 2016.  The $1.8 billion Senfina Advisors was an in-house multi-manager fund that was supposed to offer a fund of the firm’s best ideas across different management teams.  …

Brokerage Customers of Caldwell International Securities Corp. Should Contact Us

On October 17, 2016, FINRA, which regulates stock brokers and brokerage firms, announced that it fined Alex Etter and Caldwell International Securities Corp. in New Jersey, for charges that they engaged in risky speculative trading to generate commissions.   FINRA charged Caldwell with generating more than $1 million in “shady commissions,” and lacking a reasonable supervisory …

Zamansky LLC Investigates 13 Investment Management Firms Over “AlphaSector” Strategy ETFs

Zamansky LLC announces that it is investigating 13 investment management firms over their investment of client money into AlphaSector Exchange Traded Funds (“ETFs”).   The AlphaSector strategy was developed by F-Squared Investments which has since admitted in an enforcement case brought by the United States Securities and Exchange Commission (“SEC”) that its purportedly “real” past performance …

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News

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.

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Media

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 …

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Zamansky LLC Files FINRA Arbitration For An Investor With Accounts Managed by Wayne Geffen, First Serve Capital and Concept Capital Markets LLC

We filed a  FINRA arbitration on behalf of a 51 year-old New York investor who is a former customer of Wayne Geffen of Concept Capital Markets LLC.   The Statement of Claim alleges that Geffen invest him in excessively risky and unsuitable portfolio of oil, gas and energy stocks including a large position of Energy XXI.   …

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Zamansky LLC Files FINRA Arbitration Against Wells Fargo Advisors For Investor Losses in Puerto Rican Bonds

We filed a  FINRA arbitration on behalf of a 63  year-old New York investor who is a brokerage customer of Wells Fargo Advisors LLC.   The Statement of Claim alleges that the investor was retired and living off of the income from his bond portfolio.  He alleges he was advised to purchase Puerto Rican municipal bonds …

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Jacob Zamansky Quoted by Wall Street Journal

Proposed Rule Would Allow Consumers to Sue Banks, Credit-Card Companies – Current mandatory arbitration clauses in contracts force customers into private negotiations to solve disputes, Wall Street Journal, by Yuka Hayashi and Christina Rexrode. The Consumer Financial Protection Bureau proposed a rule on Thursday restricting the use of mandatory arbitration clauses in consumer financial contracts.  …

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