http://blog.thelawplanet.com/ Published by LaBovick & LaBovick en-us 2010-03-08T20:19:27-08:00 http://blog.thelawplanet.com/2010/03/first_allied_securities_agrees_1.html First Allied Securities, Inc, a San Diego-based broker-dealer, was charged with failing to reasonably supervise one of its registered representatives. The Broker engaged in unauthorized fraudulent trading in the accounts of two Florida municipalities. The Securities Exchange Commission (SEC) reports that First Allied has agreed to settle the charges for nearly $2 Million Churning LaBovick Law 2010-03-08T20:19:27-08:00 http://blog.thelawplanet.com/2010/03/the_financial_industry_regulat_1.html Financial Industry Regulatory Authority (FINRA) released a 16-page letter announcing that it is issuing its 2010 annual examination priorities, on March 1st. The letter includes information on both new and existing areas of importance to FINRA’s yearly examination program. The letter discusses priority topics from FINRA’s Market Regulation and Member Regulation Departments, and the organization’s Enforcement Department. ]]> FINRA LaBovick Law 2010-03-03T22:08:51-08:00 http://blog.thelawplanet.com/2010/02/67_million_fair_fund_allocated.html Mcfee, Inc., investor, we have good news for you. The Securities and Exchange Commission has announced distribution of approximately $67 million to over 16,000 investors in connection with McAfee, Inc. financial fraud settlements. ]]> Investment Fraud LaBovick Law 2010-02-23T02:53:18-08:00 http://blog.thelawplanet.com/2010/02/sec_launches_new_web_page_on_e_1.html As an investor, do you fully understand the power and meaning of your proxy in corporate elections? The Securities and Exchange Commission is taking steps to educate investors on proxy voting and support greater investor participation in corporate elections. Investments LaBovick Law 2010-02-22T03:42:53-08:00 http://blog.thelawplanet.com/2010/02/donald_platten_of_boca_raton.html by 3 years’ of supervised release for securities fraud, mortgage fraud, and tax fraud, according to the Justice Department and Internal Revenue Service (IRS). Restitution for the victims have not yet been determined by the Court. Investment Fraud LaBovick Law 2010-02-15T02:36:00-08:00 http://blog.thelawplanet.com/2010/02/the_bostonbased_state_street_b.html The Boston-based State Street Bank and Trust Company was charged by the Securities and Exchange Commission with misleading its investors about their exposure to subprime investments while selectively disclosing more complete information to specific investors. The State Street Bank agreed to pay over $300 million to settle the securities fraud charges. Investors that lost money during the subprime market meltdown in 2007, may be entitled to these funds. This payment is in addition to nearly $350 million that State Street previously agreed to pay to investors in State Street funds to settle private claims. Investment Fraud LaBovick Law 2010-02-06T03:19:20-08:00 http://blog.thelawplanet.com/2010/02/securities_fraud_complaint_fil.html Last week, the Massachusetts Securities Division’s Enforcement Section filed a complaint against Securities America, Inc. (Securities America) claiming that the company omitted information and mislead investors. In the complaint, Massachusetts claims that Securities America violated a state securities act in connection with the sale of millions of dollars worth of Medical Notes to investors. Securities Fraud LaBovick Law 2010-02-01T15:22:04-08:00 http://blog.thelawplanet.com/2010/01/sec_adopts_new_rule_set_for_mo.html U.S. Securities and Exchange Commission (SEC) is taking proactive measures to increase investor protection through strengthening regulatory requirements. This rule change is expected to significantly increase the governing structure of money market funds, thus adding substantial protection to investors. The newly adopted rules will become effective 60 days after their publication in the Federal Register. ]]> Securities Fraud LaBovick Law 2010-01-29T05:37:36-08:00 http://blog.thelawplanet.com/2010/01/exceo_of_military_contracting.html David Brooks, a founder and ex-chief executive officer of DHB Industries (DHB), a contracting company for the U.S. military and other agencies, is accused of looting the company of $185 million. According to a federal prosecutor, Mr. Brooks allegedly used the looted money to fund “lavish” personal expenditures. SEC LaBovick Law 2010-01-28T13:58:47-08:00 http://blog.thelawplanet.com/2010/01/disbarred_lawyer_scott_rothste.html Disbarred lawyer, Scott Rothstein admitted to masterminding a Ponzi scheme that defrauded investors of $1.2 billion. In a Ft. Lauderdale courtroom, Rothstein pleaded guilty to five federal charges, including wire fraud, money laundering, and racketeering. This scheme is the largest financial fraud case in South Florida history. Investment Fraud LaBovick Law 2010-01-28T04:19:48-08:00