Category Archives: Municipal Bonds

Paul D. Mante-Broker With The GMS Group-Discloses Customer Dispute-Boca Raton, FL

April 2017- Boca Raton, FL

The FINRA records of  Paul D. Mante ,  a  broker with  The GMS Group  disclose  7 prior final customer disputes, 2 of which were resolved with cash settlements.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

 

In FINRA #15-3075, a customer of The GMS Group alleged damages of $750,000 related to an investment in municipal debt which the customer alleged was unsuitable. The case was settled for $350,000.

Paul Mante  has been employed by The GMS Group since 5/2005.

If you have losses in an account in an account handled by Paul Mante , contact us to discuss how you may be able to recover damages for those losses.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Investigation of Hennion & Walsh Broker Joe I. Rodriguez-Parsippany, NJ

April 2017- Parsippany, New Jersey

The FINRA records of  Joseph I. Rodriguez ,  a  stockbroker who is  employed by  Hennion & Walsh  disclose 2 prior final customer disputes and a currently pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In pending FINRA arbitration 16-01032 a customer of Hennion & Walsh alleges damages of $250,000 for an unsuitable recommendation to purchase  municipal bonds.

In a prior matter, FINRA case #15-2348, a customer of Hennion & Walsh alleged damages of $56,390 for an unsuitable recommendation to invest in municipal debt. That case was settled for $25,000.

Joe Rodriguez  has been employed by Hennion & Walsh since 8/1998.

We are investigating Joe Rodriguez on behalf of a retiree who alleges that he was sold unsuitable Puerto Rico municipal bonds.

Puerto Rico Debt Crisis

In early 2014, various credit rating agencies downgraded the debt of Puerto Rico to non investment grade, better known as junk status or speculative grade. This downgrade triggered acceleration clauses requiring the repayment of some debt within months, rather than years.

Puerto Rico has over $70 billion of outstanding debt, with a debt to GDP ratio of about 68%. While about $30 billion (42%) of Puerto Rico’s debt is owned by residents of Puerto Rico, the larger portion is owned by non-residents, primarily residents of the continental United States.

Investors who have suffered losses on Puerto Rico’s bonds may be able to recover damages from the brokerage firm who sold the bonds.

If you have losses in an account in an account handled by Joseph I. Rodriguez  , contact us to discuss how you may be able to recover damages for those losses.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Sean M. Logue-Hennion & Walsh Broker-Discloses Customer Disputes Over Municipal Bond Losses-Parsippany, NJ

April 2017- Parsippany, New Jersey

The FINRA records of  Sean M. Logue ,  a  stockbroker who is  employed by  Hennion & Walsh  disclose 2 prior final customer disputes and a currently pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In pending FINRA arbitration 17-0401 a customer of Hennion & Walsh alleges damages of $150,000 for an unsuitable recommendation to purchase  municipal bonds.

In a prior matter, FINRA case #16-0527, a customer of Hennion & Walsh alleged damages of $196,326 for unsuitable investments in municipal debt. That case was settled for $49,000.

Sean M. Logue  has been employed by Hennion & Walsh since 7/1997.

Puerto Rico Debt Crisis

In early 2014, various credit rating agencies downgraded the debt of Puerto Rico to non investment grade, better known as junk status or speculative grade. This downgrade triggered acceleration clauses requiring the repayment of some debt within months, rather than years.

Puerto Rico has over $70 billion of outstanding debt, with a debt to GDP ratio of about 68%. While about $30 billion (42%) of Puerto Rico’s debt is owned by residents of Puerto Rico, the larger portion is owned by non-residents, primarily residents of the continental United States.

Investors who have suffered losses on Puerto Rico’s bonds may be able to recover damages from the brokerage firm who sold the bonds.

If you have losses in an account in an account handled by Sean M. Logue  , contact us to discuss how you may be able to recover damages for those losses.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Sony Oozeerally-Hennion & Walsh Broker-Discloses Customer Arbitration Over Bond Losses-Parsippany, NJ

April 2017- Parsippany, New Jersey

The FINRA records of  Mamode A. Oozeerally (“Sony”) ,  a  stockbroker who is  employed by  Hennion & Walsh  disclose a prior final customer dispute and a currently pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In pending FINRA arbitration 17-0401 a customer of Hennion & Walsh alleges damages of $150,000 for an unsuitable recommendation to purchase  municipal bonds.

Sony Oozeerally  has been employed by Hennion & Walsh since 9/2000.

Puerto Rico Debt Crisis

In early 2014, various credit rating agencies downgraded the debt of Puerto Rico to non investment grade, better known as junk status or speculative grade. This downgrade triggered acceleration clauses requiring the repayment of some debt within months, rather than years.

Puerto Rico has over $70 billion of outstanding debt, with a debt to GDP ratio of about 68%. While about $30 billion (42%) of Puerto Rico’s debt is owned by residents of Puerto Rico, the larger portion is owned by non-residents, primarily residents of the continental United States.

Investors who have suffered losses on Puerto Rico’s bonds may be able to recover damages from the brokerage firm who sold the bonds.

If you have losses in an account in an account handled by Sony Oozeerally  , contact us to discuss how you may be able to recover damages for those losses.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Sean McElduff-Hennion&Walsh Broker-Discloses Customer Arbitration Over Puerto Rico Bonds-Parsippany, NJ

April 2017- Parsippany, New Jersey

The FINRA records of  Sean J. McElduff ,  a  stockbroker who is  employed by  Hennion & Walsh  disclose a prior final customer dispute and a currently pending customer dispute.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In pending FINRA arbitration 16-03651 a customer of Hennion & Walsh alleges damages of $260,000 for an unsuitable recommendation to purchase Puerto Rico municipal bonds.

McElduff  has been employed by Hennion & Walsh since 8/2008.

Puerto Rico Debt Crisis

In early 2014, various credit rating agencies downgraded the debt of Puerto Rico to non investment grade, better known as junk status or speculative grade. This downgrade triggered acceleration clauses requiring the repayment of some debt within months, rather than years.

Puerto Rico has over $70 billion of outstanding debt, with a debt to GDP ratio of about 68%. While about $30 billion (42%) of Puerto Rico’s debt is owned by residents of Puerto Rico, the larger portion is owned by non-residents, primarily residents of the continental United States.

Investors who have suffered losses on Puerto Rico’s bonds may be able to recover damages from the brokerage firm who sold the bonds.

 

If you have losses in an account in an account handled by Sean J. McElduff  , contact us to discuss how you may be able to recover damages for those losses.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Merrill Lynch Fined $7M Over Leveraged Management Account Inadequacies

November 2016- New York

Merrill Lynch was fined $7 million by the Financial Industry Regulatory Authority (FINRA) for inadequately supervising the use of leverage (margin) in customer accounts.

Merrill Loan Management Accounts (LMAs) permit customers to borrow money from an affiliated bank using securities in the account as collateral. From 2010-2014, FINRA found that Merrill’s supervisory procedures were inadequate with regard to the use of the loan proceeds from the LMA’s and that customers were using the loan proceeds to purchase securities in violation of the LMA agreements.

In addition FINRA found that from 2010-2013 Merrill’s supervisory procedures were inadequate to ensure the suitability of transactions in certain Puerto Rican securities, including municipal bonds and closed-end funds, where customer accounts were highly leveraged through LMA or margin borrowing.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870

Further Lane Securities Named In Regulatory Complaint for Excessive Markups on Bonds

July 2016-New York

The FINRA records of Further Lane Securities, L.P. ,  disclose a currently pending regulatory event and 2 prior regulatory events.

The Financial Industry Regulatory Authority (FINRA) is the agency that licenses and regulates stockbrokers and brokerage firms. FINRA requires brokers and brokerage firms to report customer complaints and disputes as well as regulatory sanctions. In addition brokers are required to disclose certain financial matters such as personal bankruptcies, judgments and liens.

In currently pending FINRA Case 2012034242501, FINRA alleges that Further Lane Securities and one of their brokers charged customers excessive markups in corporate bond transactions. FINRA further alleges that the bonds were sold at prices that were not fair, taking into consideration all relevant circumstances.

If you have questions about your account at Further Lane Securities call to learn how you may be entitled to collect damages through FINRA arbitration.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Nationwide Representation

Rex Securities Law

TollFree: 877-224-3199

Florida-561 391 1900 

Texas-512-329-2870