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Articles Posted in Misrepresentation and Omission of Material Facts

Silver Law Group is representing investors who have suffered losses after investing in Specialty Lending Group, a Maryland-based company operated by Jeff Levin. Specialty Lending Group advertises that it is in the business of extending loans to real estate entrepreneurs, such as renovators and developers. Unfortunately, it appears that the company is experiencing financial and possible legal issues, as it has failed to make scheduled payments to investors. Florida Lawsuit Signals Issues With Specialty Lending Group A lawsuit filed in Florida in May 2020 alleged that many of Specialty Lending Group’s loans are either in default or underperformed. A clerk’s default was entered against Specialty Lending Group, Jeff Levin, and others after they did not timely respond to or defend against the allegations. Among other things, the Complaint alleged that: The Plaintiff, a Cayman financial institution called Global Fidelity Bank, Ltd., purchased various loans from Specialty Lending Group, which the company and other defendants agreed to service; Specialty Lending Group failed to make interest payments since October 2019; In breach of the contract at issue in the case, many the loans purchased by the Plaintiff are in default; and Specialty Lending Group improperly paid a salary to one or more of its members, shareholders, directors, managers, and/or officers, which was prohibited by the contract at issue in the case.Silver Law Group is representing investors who have suffered losses after investing in Specialty Lending Group, a Maryland-based company operated by Jeff Levin, that advertises that it is in the business of extending loans to real estate entrepreneurs, such as renovators and developers. Unfortunately, it appears that the company is experiencing financial and possible legal issues, as it has failed to make scheduled payments to investors. Continue reading ›

Michael Shillin (Michael Francis Shillin CRD# 5927156) is a barred broker who was last registered with A.G.P/Alliance Global Partners in Altoona, Wisconsin. Before working for A.G.P., Shillin was registered with Raymond James Financial Services and Edward Jones.  Michael Shillin Disclosures and Wisconsin Finra Arbitration Claims  Michael Shillin is the subject of 20 disclosures on his publicly-available BrokerCheck report, which includes 15 customer disputes (all but one of which are pending), 1 regulatory disclosure, 1 investigation initiated by the FINRA Department of Enforcement, and 3 disputes regarding employment separation after allegations:  February, 2021: A customer dispute states that Shillin “recommended an IRA rollover that caused a taxable event, and that Mr. Shillin charged management fees that were higher than the amount that had been agreed upon. Client also stated that Mr. Shillin told him that he owned pre-IPO shares of SpaceX and Palantir, although it does not appear that the client ever purchased those shares. Further, client stated that Mr. Shillin lied about creating a living trust for him.” $5,000 in damages are requested, and the dispute is pending as of this writing.Michael Shillin (Michael Francis Shillin CRD# 5927156) is a barred broker who was last registered with A.G.P/Alliance Global Partners in Altoona, Wisconsin. Before working for A.G.P., Shillin was registered with Raymond James Financial Services and Edward Jones. Continue reading ›

Nico Sharp (Nico Raphael Sharp CRD#: 5988268) is a former registered broker and investment advisor whose last known employer was Citigroup Global Markets Inc. (CRD#:7059) of Tustin, CA. His previous employers include J.P. Morgan Securities LLC (CRD#:79) of Mission Viejo, CA, TD Ameritrade, Inc. (CRD#:7870) of Beverly Hills, CA, PNC Investments (CRD#:129052) of Plainsboro, NJ. He has been in the industry since 2012.  FINRA began an investigation into Sharp after a client filed a dispute with allegations of unsuitability, fraud, and other related complaints. The arbitration has been assigned Case #20-01713 and is currently pending.  The client’s dispute was filed on the same day as FINRA’s investigation began, 6/8/2020. The client alleges that Sharp invested $1M from their trust into a company called Chronos Capital Partners, LLC, without disclosing that he co-founded the company or his connection to it. The client further alleges “unsuitability, fraud, and breach of fiduciary duty against Mr. Sharp, who left the employ of CGMI on April 25, 2018, in connection with investment in Chronos.” The client requests damages of $1,000,000. This claim is listed as pending.Nico Sharp (Nico Raphael Sharp CRD#: 5988268) is a former registered broker and investment advisor whose last known employer was Citigroup Global Markets Inc. (CRD#:7059) of Tustin, CA. His previous employers include J.P. Morgan Securities LLC (CRD#:79) of Mission Viejo, CA, TD Ameritrade, Inc. (CRD#:7870) of Beverly Hills, CA, PNC Investments (CRD#:129052) of Plainsboro, NJ. He has been in the industry since 2012. Continue reading ›

Felix Chu (Felix S Chu CRD# 2427593) is a barred broker last registered with NYLife Securities in Pleasant Hill, California. FINRA indefinitely barred Chu from association with any FINRA member in all capacities for failing to respond to a request for information.  Chu’s publicly-available FINRA BrokerCheck report shows that he has been registered with NYLife Securities his whole career, from 1994 until his barring in 2019.Felix Chu (Felix S Chu CRD# 2427593) is a barred broker last registered with NYLife Securities in Pleasant Hill, California. FINRA indefinitely barred Chu from association with any FINRA member in all capacities for failing to respond to a request for information.

Chu’s publicly-available FINRA BrokerCheck report shows that he has been registered with NYLife Securities his whole career, from 1994 until his barring in 2019. Continue reading ›

The Financial Industry Regulatory Authority (“FINRA”) provides an arbitration process for investors to resolve disputes with their securities advisors. Among other things, the FINRA arbitration process helps parties avoid the expenses and waiting periods associated with filing a case in state or federal court. FINRA also writes special rules and regulations specially tailored to these investment-related disputes. As commissions on trading stocks has gone to zero, Wall Street has replaced recommending stocks with a large number of high commission alternative investments or “products” which can be complex for the average investor but lucrative for Wall Street. Over the last decade, we have seen a substantial rise in product cases for the sale of investments which were sold without disclosure of the fees or risks or alternative investments which failed to perform the way the investment was designed. Frequently, risks and costs are buried deep in the paperwork and products are falsely sold as alternatives to the stock market with reduced risk. FINRA Provides Special Guidance For Arbitrations Concerning Bad “Products” Unfortunately, many investors suffer losses due to broker-dealer firms failing to conduct sufficient due diligence on investment products before recommending them to customers. These “products” include private placements, real estate investment trusts (“REITs”), and busines development companies (“BDCs”). It is often the case that the company managing the product pays the broker a high commission to recommend the investment, incentivizing broker-dealer firms to sell the product in high volumes to a multitude of customers, all without properly investigating the investment. When things fall apart and the value of the investment plummets, the investors are left alone to pick up the pieces, often suffering substantial losses and prolonged illiquidity.The Financial Industry Regulatory Authority (“FINRA”) provides an arbitration process for investors to resolve disputes with their securities advisors. Among other things, the FINRA arbitration process helps parties avoid the expenses and waiting periods associated with filing a case in state or federal court. FINRA also writes special rules and regulations specially tailored to these investment-related disputes. Continue reading ›

Investors in YayYo (YAYO), a ride-hailing vehicle supply company, were disappointed to find out that their shares, which originally sold for $4.00 per share, are now worth pennies. A lawsuit filed in the Southern District of New York, FirstFire Global Opportunities Fund, LLC v. Aegis Capital Corp., et al., alleges that this decimation of stock value was the result of fraud. Specifically, the suit accuses the IPO underwriters, including Aegis Capital Corp., of concealing that its founder/CEO/director, Ramy El-Batrawi, controlled the company despite El-Batrawi’s “checkered past with allegations of securities violations by the federal securities authorities,” according to the Complaint.Investors in YayYo (YAYO), a ride-hailing vehicle supply company, were disappointed to find out that their shares, which originally sold for $4.00 per share, are now worth pennies. A lawsuit filed in the Southern District of New York, FirstFire Global Opportunities Fund, LLC v. Aegis Capital Corp., et al., alleges that this decimation of stock value was the result of fraud. Specifically, the suit accuses the IPO underwriters, including Aegis Capital Corp., of concealing that its founder/CEO/director, Ramy El-Batrawi, controlled the company despite El-Batrawi’s “checkered past with allegations of securities violations by the federal securities authorities,” according to the Complaint. Continue reading ›

Silver Law Group, a nationally-recognized class action law firm, is investigating Aytu BioSciences (AYTU) on behalf of shareholders in the company. The investigation regards whether Aytu and its officers and directors have violated the federal securities laws. Aytu BioSciences (AYTU) Announces License Agreement For COVID-19 Test On March 10, 2020, Aytu BioSciences, a Colorado-based publicly-traded specialty pharmaceutical company, announced that it had reached a license agreement for the exclusive distribution of a Chinese-made test for COVID-19 antibodies in the U.S. The license agreement was for three years, with automatic renewals after that, according to Aytu.Silver Law Group, a nationally-recognized class action law firm, is investigating Aytu BioSciences (AYTU) on behalf of shareholders in the company.

The investigation regards whether Aytu and its officers and directors have violated the federal securities laws.

Aytu BioSciences (AYTU) Announces License Agreement For COVID-19 Test Continue reading ›

In the past three years, Robert Douglas Armstrong (CRD# 5236735) (a/k/a R. Douglas Armstrong), a broker with Dawson James Securities, Inc. of Boca Raton, Florida, has settled five customer disputes and is currently facing two additional pending disputes. Prior to joining Dawson James Securities in 2012, Armstrong worked for Aurora Capital LLC and Westpark Capital, Inc.In the past three years, Robert Douglas Armstrong (CRD# 5236735) (a/k/a R. Douglas Armstrong), a broker with Dawson James Securities, Inc. of Boca Raton, Florida, has settled five customer disputes and is currently facing two additional pending disputes. Prior to joining Dawson James Securities in 2012, Armstrong worked for Aurora Capital LLC and Westpark Capital, Inc. Continue reading ›

Silver Law Group, a nationally-recognized class action law firm representing investors, is investigating Lipocine (LPCN), a publicly-traded specialty pharmaceutical company, on behalf of shareholders of the company’s stock.  The investigation concerns whether Lipocine gave misleading information to the public and violated federal securities laws.Silver Law Group, a nationally-recognized class action law firm representing investors, is investigating Lipocine (LPCN), a publicly-traded specialty pharmaceutical company, on behalf of shareholders of the company’s stock.

The investigation concerns whether Lipocine gave misleading information to the public and violated federal securities laws. Continue reading ›

Silver Law Group is investigating Zynerba Pharmaceuticals (ZYNE), a publicly-traded company that is developing cannabinoid therapies for neuropsychiatric disorders, on behalf of investors in the company’s stock. The investigation regards possible violations of federal securities laws by Zynerba officers and directors.Silver Law Group is investigating Zynerba Pharmaceuticals (ZYNE), a publicly-traded company that is developing cannabinoid therapies for neuropsychiatric disorders, on behalf of investors in the company’s stock.

The investigation regards possible violations of federal securities laws by Zynerba officers and directors. Continue reading ›

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