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Summary So-called “Sophisticated” investors have won investment fraud cases. Investors recover losses where there has been investment fraud. Sophisticated investors have legal rights too. There is a misconception among investors that if one is sophisticated, meaning a person with knowledge of financial matters like a business owner or a CPA, one cannot prevail in …
Riot Blockchain, a publicly-traded Bitcoin and Litecoin mining company previously known as Bioptix, recently announced that its auditors had found “material weaknesses” in the company’s internal controls for financial reporting. The cryptocurrency company, which reported holding more than $41.6 million in cash at the end of 2017, also reported that it currently has just over …
As cryptocurrency trading continues to grow in popularity among casual investors, and as new initial coin offerings (including fraudulent initial coin offerings) become increasingly common, the Securities and Exchange Commission (SEC) is warning investors to be wary of the risk of cryptocurrency scams. In a recent Investor Alert, the SEC discusses some of the more-recent …
Imagine your financial adviser selling you a bond fund that you thought was invested in low risk index or municipal securities only to find out that much of your holdings are in high-risk Chinese or Puerto Rico bonds. Unfortunately, that is the situation facing investors who may have unwittingly bought bond funds without realizing they …
As a shareholder in a publicly-traded or privately-held corporation, your top priority should be protecting your investment. The value of your shares is directly related to the corporation’s profitability, and you need to feel confident that the people who are in control of the company (its officers, directors and majority shareholders) are acting with your …
Zamansky LLC attorney James Ostaszewski, who also serves on the New York City Bar Association’s Task Force on Puerto Rico, recently conducted an interview with New York City Bar President Roger Juan Maldonado and New York State Bar President Michael Miller, regarding a report that the bar associations jointly issued regarding the impact of the …
When you started saving for your children’s college tuition with a 529 savings plan, you probably did not give much thought to the risk of investment fraud. As a tax-advantaged investment tool that is sponsored by states across the country, you, like most people, probably assumed that the worst-case scenario would be not earning quite …
A shady deal in 2017 between Wall Street behemoth Blackstone and Hovnanian Enterprises, a leading homebuilder, has shaken investor confidence in the markets. These “manufactured defaults” occur when an otherwise solvent company deliberately defaults on its debt. Powerful investment firms are making big money by encouraging companies to miss bond payments they could otherwise make. …
Financial advisors pitched the so-called “UBS Yield Enhancement Strategy” – or YES strategy – to their mostly ultra-high net worth customers. They sold it as a supposedly safe and efficient mechanism to enhance yield from generally conservative portfolios. Wealthy investors were told that the YES strategy was a neutral or low-risk “Iron Condor” options trading …
Imagine being able to limit your losses and predict your profits. Sounds too good to be true, right? UBS investors were told that the firm’s Yield Enhancement Strategy, or YES, was a sure thing. UBS pitched the YES strategy to clients as a neutral or low risk way to generate returns through an options trading …
Mr. Zamansky's securities law blog is closely read and monitored by regulators and influential financial reporters and has prompted several major news and feature stories.
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