Posts belonging to Category Lehman Brothers
Posted by Page PerryonMarch 19, 2011
The Lehman Brothers Holdings bankruptcy trustee has sued Citibank to recover more than $1.3 billion, according to Dena Aubin’s March 18, 2011 article in Reuters. The $1.3 billion includes a $1 billion deposit demanded by Citibank to continue providing foreign exchange settlement services to Lehman’s broker subsidiary (LBI) after the bankruptcy filing. Citigroup also froze […]
Categories: Brokerage Firms, Citigroup/Smith Barney, Lehman Brothers, Market Developments, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonMarch 16, 2011
John F. Wasik’s article in the March | April 2011 edition of AARP Magazine, entitled “The Time Bomb in Your Nest Egg,” is a “must read” as it focuses on a hot group of investment products called Structured Products, which are being marketed to conservative fixed income investors seeking better yields. Sales are rising, and […]
Categories: Bank of America, Brokerage Firms, Common Securities Broker Abuses, Early Retirement Scams, Elder Abuses, Fairness/Just & Equitable Conduct, Investment Malpractice, Investor Alerts, Lehman Brothers, Merrill Lynch, Misrepresentation/Omission, Morgan Stanley, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes, UBS, Unsuitable Recommendations
Posted by Page PerryonMarch 8, 2011
The government’s failure to convict two minor Bear Stearns executives, whose hedge fund collapsed in 2007, may have caused it to shy away from prosecuting high-profile executives whose actions contributed to the financial crisis, according to Joe Nocera’s recent New York Times article, “Biggest Fish Face Little Risk of Being Caught.” In addition, proving criminal […]
Categories: Bank of America, Bear Stearns, Brokerage Firms, Investigations, Lehman Brothers, Regulatory Developments
Posted by Page PerryonJanuary 28, 2011
“UBS AG Yield Optimization Notes with Contingent Protection linked to the common stock of Lehman Brothers Holdings Inc. ‘” (hereinafter referred to as “the Notes”) sold by UBS Financial Services, Inc. circa 2007-2008 have been described as the worst investment ever (or at least one of the worst investments ever) by some securities practitioners
Categories: Brokerage Firms, Common Securities Broker Abuses, Fairness/Just & Equitable Conduct, Investment Advisers, Investment Malpractice, Investor Alerts, Lehman Brothers, Misrepresentation/Omission, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS, Unsuitable Recommendations
Posted by Page PerryonJanuary 28, 2011
The State Treasurer of South Carolina has filed a lawsuit against The Bank of New York Mellon Corp. (“BNY”) seeking to recover up to $200 million in losses in Lehman Brother’s debt and subprime mortgage-backed securities in connection with a securities lending program that was managed by BNY. See “SC Sues BNY Over $200M In […]
Categories: Brokerage Firms, Common Securities Broker Abuses, Investment Advisers, Investment Malpractice, Lehman Brothers, Mortgage Backed Securities, Mortgage Securities & Collateralized Debt Obligation Problems, Promissory Notes, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJanuary 24, 2011
Investors who purchased Lehman notes from UBS have won seven out of the eight securities arbitration cases that have gone to a final arbitration hearing, which is an unusually high win rate, according to Dan Jamieson in his InvestmentNews article entitled “Sour notes from Lehman haunt UBS.” Most recently, a Financial Industry Regulatory Authority (FINRA) […]
Categories: Brokerage Firms, Common Securities Broker Abuses, Investigations, Investment Malpractice, Investor Alerts, Lehman Brothers, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS
Posted by Page PerryonJanuary 3, 2011
A Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded $2,200,000.00 ? 100% of the compensatory damages requested ? to Thomas F. Motamed, the Chairman and CEO of CNA Financial Corp., and his wife Christine Motamed, as a result of losses they sustained in Lehman structured products sold to them by UBS Financial Services, Inc., […]
Categories: Brokerage Firms, Common Securities Broker Abuses, Investment Advisers, Lehman Brothers, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS
Posted by Page PerryonNovember 16, 2010
Brokerages are marketing structured products that use complex derivatives and promising equity-like returns with less risk. But they are not as safe as they may appear to be, and experts say that most of them are actually worth less than what you pay for them, according to Jane J. Kim and Ben Levinsohn in their […]
Categories: Bank of America, Brokerage Firms, Common Securities Broker Abuses, Insurance Products, Investment Advisers, Lehman Brothers, Merrill Lynch, Morgan Stanley, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS, Variable Annuities and Equity-Indexed Annuities
Posted by Page PerryonNovember 2, 2010
The financial crisis and recent bear market have caused many investors to become more concerned about safety of principal. The investment industry has taken advantage of that concern by creating so-called “principal protected” notes and pushing them hard on retirees and others in need of safe, steady income.
Categories: Bank of America, Barclays, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Derivatives, Investment Advisers, Lehman Brothers, Merrill Lynch, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes
Posted by Page PerryonOctober 5, 2010
Securities firms have sold over $30 billion of complex structured products to investors (often retirees seeking safe income) who do not understand the nature and risks of these securities, according to an article by Zeke Faux which was published in the October 4-10, 2010 edition of Bloomberg Businessweek under the title, “Individual Investors Duped by […]
Categories: Bank of America, Brokerage Firms, Citigroup/Smith Barney, Common Securities Broker Abuses, Derivatives, Elder Abuses, Investment Advisers, J. P. Morgan Chase, Lehman Brothers, Merrill Lynch, Morgan Stanley, Regulatory Developments, Reverse Convertibles, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS, Wachovia, Wells Fargo