Jacob Zamansky’s blog post Could The DOL’s New Fiduciary Duty Rule For Retirement Accounts Boomerang On Investors? was recently published as an article in the November 2016 issue of Wall Street Lawyer – Securities in the Electronic Age (Volume 20, Issue 11). The article, which discusses the Fiduciary Duty Rule […]
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 […]
Lawyers who advise banks, mortgage lenders and other industries regulated by the Consumer Financial Protection Bureau were hit by a blizzard of calls and inquiries this week by clients who are feeling more confident in challenging the agency after a court ruling limited its authority and rejected its statutory interpretations. […]
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 […]
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 […]
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 […]
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.
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 […]
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 […]
Third Avenue Management, founder Martin Whitman and other executives at the value investment firm have been sued for at least $500 million over last month’s sudden collapse of a junk bond mutual fund they oversaw. In a complaint filed on Friday with a New York state court in Manhattan, an […]