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When seeking to recover fraudulent investment losses from a broker or brokerage firm, the primary method for doing so is filing an arbitration claim with the Financial Industry Regulatory Authority (FINRA). However, there is also another option which, under the right circumstances, can help further streamline the process of recovering […]
On November 23, 2016, Zamansky LLC filed a class action lawsuit and has been appointed lead counsel on behalf of all current and former employees of Exxon Mobil Corporation (“Exxon”) who were participants in the Exxon Mobil Savings Plan (the “Plan”). The lawsuit alleges violations of the federal Employee Retirement […]
Zamansky LLC, as sole interim class counsel, successfully obtained preliminary approval of a $4.5 million settlement for J.C. Penney employees in an ERISA class action over misrepresentations related to J.C. Penney’s “fair and square” pricing strategy. In Law360’s JC Penney Wins Initial OK for $4.5M ERISA Deal article by Fola […]
Securities Defense Bar Praises Trump SEC Pick, New York Law Journal, by Christine Simmons President-elect Donald Trump nominated Jay Clayton, a partner at Sullivan & Cromwell, to lead the U.S. Securities and Exchange Commission, a nomination that securities litigators and other lawyers who have worked with Clayton greeted with enthusiasm. […]
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 […]
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 […]
In August, we announced that we were investigating 13 investment management firms that had been penalized by the Securities and Exchange Commission (SEC) for publishing false and misleading advertising. We followed that announcement in October with an update further discussing the firms’ penalized activities. Now, the SEC has announced charges […]
“In investing . . . prevention is half the game.” This advice comes from author and Forbes contributor John Wasik in his recent article, How To Avoid The Top Money Scams. The investment market for individual investors has long been plagued by fraud. From the early days of Ponzi schemes […]
Each year, the Securities and Exchange Commission (SEC) publishes a list of its “most significant” enforcement actions targeting various forms of investment fraud. The SEC recently released its list for fiscal year 2016: 1. Hedge Fund Manager Charged With Insider Trading In September, the SEC charged Leon G. Cooperman and […]
Earlier this fall, the Securities and Exchange Commission (SEC) announced new reporting and disclosure rules designed to help protect individual investors against fraudulent practices involving mutual funds and exchange-traded funds (ETFs). According to a press release announcing the decision to adopt the new rules: “The new rules will enhance the […]