Broken bonds: The role Wall Street played in wiping out Puerto Ricans’ savings – CNBC

In a recent investigation into the plummeting of bond funds largely made up of Puerto Rico government bonds, CNBC revealed that broker-dealers on the Island, such as UBS, Santander Securities, Popular Securities, and Merrill Lynch, were less than “forthcoming about the extent of the risks of those bond funds” to “both its clients and brokers….”  …

As Mania Mounts, Investors Bet The Farm On Bitcoin – Seeking Alpha

Jacob Zamansky’s article warning investors of the highly speculative nature of investing in Bitcoin and Bitcoin futures was recently published on Seeking Alpha.  In his article, As Mania Mounts, Investors Bet The Farm on Bitcoin, Zamansky details how Bitcoin has reached the “mania” phase, discusses SEC Commissioner Jay Clayton’s recent warning on cryptocurrencies, and warns …

FINRA Bolsters Diversity Efforts in Dispute Resolution Forum – Bloomberg BNA

The Financial Industry Regulatory Authority (FINRA) has moved to diversify its pool of new arbitrators dealing with investor disputes by increasing the numbers of both African American and women arbitrators in 2016. In December of 2015, FINRA began its minority recruitment for a deeper and more diverse pool of arbitrators following the recommendations of a …

JP Morgan Clients Say Circuits Are Split on SLUSA Standards – Law360

Patricia Holtz, lead plaintiff in a Securities Class Action case, is asking the US Supreme Court to reinstate her case against JP Morgan after the bank used SLUSA to justify having the case removed from Illinois State court to federal court. The JP Morgan clients allege the bank violated its commitments to clients by pushing …

Class Fraud Suits More Viable With Restatement, Lawyers Say – Bloomberg BNA

Judges are less likely to dismiss class securities cases where the company has restated its financials, statistic show.  Jacob Zamansky of Zamansky LLC commented, “If the restatement shows that the company was falsely trying to dress up its balance sheet, those are cases where investors are likely to recover and courts are likely to come …

What Exxon Mobil Didn’t Say About Climate Change – The New York Times

Current and former Exxon employees, represented by Zamansky LLC, are asking the following question:  “Did Exxon Mobil’s communications about climate change break the law?”  Zamansky LLC filed suit in February on behalf of current and former Exxon employees who believe the answer is “yes.”  The lawsuit argues that Exxon “deceived [current and former employees] by …

Seeing Parallels With Big Tobacco, Employees Sue Exxon Mobil – NPR Austin

Zamansky LLC Partner Samuel Bonderoff discusses the parallels between how Exxon Mobil handled climate change and how big tobacco companies handled the link between cigarettes and cancer in a radio interview featured on Austin’s NPR Station, KUT 90.5.  Mr. Bonderoff also discusses the firm’s representation of current and former Exxon employees who allege that Exxon …

Ex-Major League Outfielder Closer to Ponzi Scheme Recovery – Bloomberg BNA

A reformed con man is closer to recovering the $2 million he lost as a victim of a Ponzi scheme.  He borrowed the money from retired Major League Baseball outfielder Shannon Stewart who played for the Toronto Blue Jays, the Minnesota Twins, and the Oakland Athletics.  Any recovered funds will be returned to Stewart. Jacob …

FINRA to Merge Enforcement Units – Bloomberg BNA

The Financial Industry Regulatory Authority (FINRA) has announced the merger of two separate enforcement programs.  The program that focuses on member firms will be merged with the program that focuses on over-the-counter trading. Jacob Zamansky told Bloomberg BNA that “It’s an appropriate move to merge, and hopefully it will make the FINRA enforcement a more …

Zamansky LLC Partner Samuel Bonderoff Quoted in Exxon Law360 Article

Defendants asked a Texas federal court to dismiss a class action suit brought by Zamansky LLC on behalf of Exxon employees.  The suit alleges that Exxon hid its knowledge of climate change and made false and misleading disclosures causing its retirement plan to lose value. Zamansky LLC partner Samuel Bonderoff stated, “[f]or decades, ExxonMobil has …