Posts belonging to Category Citigroup Hedge Funds
Posted by Page PerryonSeptember 8, 2010
Citigroup misled its representatives who sold the firm’s MAT/ASTA municipal arbitrage hedge funds, and arbitrators are placing the blame squarely on the firm, according to a September 5 article by Bruce Kelly in InvestmentNews (“Arbitrators: B-Ds Kept Brokers in the Dark on Private Deals”).
Categories: Brokerage Firms, Citigroup Hedge Funds, Citigroup/Smith Barney, Common Securities Broker Abuses, Hedge Funds, Investment Advisers, Municipal Bonds, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonAugust 18, 2010
Investors who purchased MAT/ASTA municipal arbitrage funds between 2002 through 2005 may mistakenly believe that they have waited too long and it is too late to pursue a claim for damages against Citigroup. Fortunately, this is not the case.
Categories: Brokerage Firms, Citigroup Hedge Funds, Citigroup/Smith Barney, Common Securities Broker Abuses, Derivatives, Municipal Bonds, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonAugust 12, 2010
Citigroup was “negative” on subprime mortgages at least as early as 2006. Despite that, Citigroup continued to originate subprime mortgages and underwrite subprime mortgage-backed securities in large quantities. In 2007, Citigroup originated $19.7 billion in subprime mortgages and underwrote $13.4 billion in subprime mortgage-backed securities. Senior management says it did not have a clue what […]
Categories: Brokerage Firms, CDOs, Citigroup Hedge Funds, Citigroup/Smith Barney, Common Securities Broker Abuses, Credit Default Swaps, Derivatives, Hedge Funds, Investment Advisers, Mortgage Securities & Collateralized Debt Obligation Problems, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes
Posted by Page PerryonAugust 5, 2010
Scams will always be with us but they are especially plentiful when traditional investments like stocks and bonds are not doing well, according to John Waggoner of USAToday in his August 5, 2010 article, “Investment Scams Thriving.” “It’s pretty bad out there,” Texas Securities Commissioner Denise Voigt Crawford was quoted as saying. The primary victims […]
Categories: Brokerage Firms, Citigroup Hedge Funds, Citigroup/Smith Barney, Common Securities Broker Abuses, Derivatives, Exchange-Traded Funds (ETFs), Investment Advisers, Lehman Brothers, Merrill Lynch, Morgan Stanley, Private Investments/Reg D, Regulatory Developments, Reverse Convertibles, Securities, Securities America, Securities/Commodities Arbitration, Securities/Commodities Litigation, Structured Notes, UBS
Posted by Page PerryonAugust 4, 2010
In a recent Financial Industry Regulatory Authority (FINRA) arbitration, a South Florida panel specifically found that Respondents Citigroup Global Markets, Inc. f/k/a Citigroup Investment Services, and Citigroup Alternative Investments, LLC were guilty of negligent mismanagement of MAT/ASTA funds, as well as negligent supervision of their registered representatives. This award should open the door for many […]
Categories: Brokerage Firms, Citigroup Hedge Funds, Citigroup/Smith Barney, Common Securities Broker Abuses, Hedge Funds, Investment Advisers, Municipal Bonds, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJuly 28, 2010
Investors in the MAT Municipal Arbitrage Funds sold by Citigroup/Smith Barney recently won a total of $2.1 million in separate arbitration proceedings and these awards may just be the tip of the iceberg. In fact, Wall Street brokerage firms are being ordered to pay millions to investors who incurred significant losses on what they thought […]
Categories: Brokerage Firms, Citigroup Hedge Funds, Citigroup/Smith Barney, Common Securities Broker Abuses, Hedge Funds, Municipal Bonds, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonJune 21, 2010
In recent weeks, two Financial Industry Regulatory Authority (FINRA) arbitration panels have awarded more than $2.2 million to clients of Page Perry, Maddox, Hargett and Caruso, P.C., and David R. Meyer & Associates in connection with their purchases of MAT municipal arbitrage fund investments. MAT Five and MAT Three were leveraged municipal arbitrage hedge funds […]
Categories: Brokerage Firms, Citigroup Hedge Funds, Citigroup/Smith Barney, Common Securities Broker Abuses, Derivatives, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonApril 5, 2010
The Atlanta Journal-Constitution reported today that an Atlanta hedge fund manager is being sued for fraud by investors who contend that he diverted money for personal use and falsified financial statements to hide the theft. This is just one example of the problems that can arise when investors ? particularly those who are unsophisticated ? […]
Categories: Brokerage Firms, Citigroup Hedge Funds, Common Securities Broker Abuses, Derivatives, Investment Advisers, Mortgage Securities & Collateralized Debt Obligation Problems, Private Investments/Reg D, Regulatory Developments, Securities, Securities/Commodities Arbitration, Securities/Commodities Litigation, Smart Investing Tools, Structured Notes
Posted by Page PerryonAugust 14, 2009
The Bankruptcy Estate of Terra Securities ASA and seven Norwegian municipalities have filed a securities fraud action against Citigroup Global Markets, Inc. and related entities, as reported in the Wall Street Journal and news wires. The complaint contends that, in 2007, Citigroup fraudulently induced Terra and the municipalities into purchasing notes linked to a “tender […]
Categories: Bonds, Brokerage Firms, Citigroup Hedge Funds, Citigroup/Smith Barney, Securities/Commodities Arbitration, Securities/Commodities Litigation
Posted by Page PerryonApril 24, 2009
The liability exposure of registered investment advisors for imprudent recommendations of hedge funds and other managed investments is increasing. On April 22, 2009, the U.S. Securities and Exchange Commission (“SEC”) censured Hennessee Group LLC and Charles J. Gradante and ordered them to pay, jointly and severally, over $800,000 for violating Section 206(2) of the Investment […]
Categories: Bear Stearns Hedge Funds, Citigroup Hedge Funds, Investment Advisers, Ponzi Schemes, Regulatory Developments