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Articles Posted in Securities Arbitration

Scott Silver, managing partner of Silver Law Group, was selected as a top-rated securities litigation attorney by Super Lawyers for 2022. Scott received the same award in 2021, and was previously selected for Super Lawyers’ Rising Stars list.  Scott represents investors nationwide in securities arbitration, investment fraud, and stockbroker misconduct cases, as well as in plaintiff-side class action litigation and represents victims of Ponzi schemes.  Silver Law Group represents individual investors and institutions in claims against investment advisors, brokerage firms, hedge funds and others. Scott also serves as counsel to receivers related to recovering investor losses from Ponzi schemes.  Scott has vast experience representing investors in arbitration before FINRA (Financial Industry Regulatory Authority), AAA (American Arbitration Association), and NFA (National Futures Association).  Scott Silver, managing partner of Silver Law Group, was selected as a top-rated securities litigation attorney by Super Lawyers for 2022. Scott received the same award in 2021, and was previously selected for Super Lawyers’ Rising Stars list.

Scott represents investors nationwide in securities arbitration, investment fraud, and stockbroker misconduct cases, as well as in plaintiff-side class action litigation and represents victims of Ponzi schemes. Continue reading ›

Longveron, Inc., (LGVN) is being investigated by Silver Law Group regarding potential claims for investors in the company to recover losses. The investigation concerns potential violations of the federal securities laws.  If you have losses from investing in Longveron Inc. (LGVN) contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com.  Longveron, Inc. is a publicly traded company focusing on biotechnology and specializing in stem cell research. The company is developing various therapies to treat aging-related disorders such as Alzhiemer’s. The company is using allogeneic mesenchymal stem cells to create regenerative medicine for a number of conditions related to aging, including metabolic syndrome, Alzheimer’s disease, age-related frailty, and hypoplastic left heart syndrome (a rare congenital heart defect in children).  The company’s premier drug, Lomecel-B, an infusion drug, is made from medicinal signaling cells from healthy bone marrow from adult donors. Lomecel-B is designed to specifically treat aging frailty.  In addition, Lomecel-B is also seen as a possible treatment for Acute Respiratory Distress Syndrome (ARDS), which can affect patients with COVID-19 as well as influenza. ARDS has a very limited course of treatment, with ventilators as the most common.Longveron, Inc., (LGVN) is being investigated by Silver Law Group regarding potential claims for investors in the company to recover losses. The investigation concerns potential violations of the federal securities laws.

If you have losses from investing in Longveron Inc. (LGVN) contact Silver Law Group for a no-cost consultation at (800) 975-4345 or at ssilver@silverlaw.com. Continue reading ›

For over 25 years, Silver Law Group has been representing investors in securities and investment fraud cases. A core part of our practice is representing investors in stockbroker misconduct cases which are generally administer by FINRA and hearings are held in major cities around the country. However, the current health crisis requires new policy and procedures to allow these cases to be heard without the need of an in-person hearing. We support FINRA’s actions especially because many elderly investors are the target of fraud, Ponzi schemes, unsuitable recommendations, and other misconduct which would prevent them from seeking justice because they cannot travel to a live hearing. Silver Law Group believes zoom hearings, similar to client meetings and other events can be held by zoom or other methods without damaging the securities arbitration process.For over 25 years, Silver Law Group has been representing investors in securities and investment fraud cases. A core part of our practice is representing investors in stockbroker misconduct cases which are generally administer by FINRA and hearings are held in major cities around the country. However, the current health crisis requires new policy and procedures to allow these cases to be heard without the need of an in-person hearing. We support FINRA’s actions especially because many elderly investors are the target of fraud, Ponzi schemes, unsuitable recommendations, and other misconduct which would prevent them from seeking justice because they cannot travel to a live hearing. Silver Law Group believes zoom hearings, similar to client meetings and other events can be held by zoom or other methods without damaging the securities arbitration process. Continue reading ›

The future is uncertain for GPB Capital Holdings and its investors. As state and federal agencies investigate the troubled alternative asset management company, investors wait, unable to sell, wondering if the money they invested will evaporate. It wasn’t supposed to be this way. Clients were told by their brokers that GPB had solid assets and that investing in the company was low-risk. Sure a private placement in GPB was illiquid, but it would provide a healthy income stream for years to come, and one day the company could go public and make them a healthy profit, they said. Many investors did not appreciate that one of the primary guarantees for the selling brokerage firms was the substantial commission that GPB offered to pay the financial advisors who sold GPB Capital Notes. The future is uncertain for GPB Capital Holdings and its investors. As state and federal agencies investigate the troubled alternative asset management company, investors wait, unable to sell, wondering if the money they invested will evaporate.

It wasn’t supposed to be this way. Clients were told by their brokers that GPB had solid assets and that investing in the company was low-risk. Sure a private placement in GPB was illiquid, but it would provide a healthy income stream for years to come, and one day the company could go public and make them a healthy profit, they said.

Continue reading ›

Robert Charles High II (CRD: #4568165) is a former registered broker and investment advisor whose last employer was First Financial Equity Corporation (CRD#:16507) of Scottsdale, AZ. His previous employers include Chase Investment Services Corp. (CRD#:25574) and Banc One Securities Corporation (CRD#:16999.) He has been in the industry since 2002.The FBI opened an investigation on 2/14/2019 into Robert High over allegations of potential forgery and misappropriation of funds. On 2/20/2019, First Financial Equity Corporation discharged High for “violations of firm policies.” Robert Charles High II (CRD: #4568165) is a former registered broker and investment advisor whose last employer was First Financial Equity Corporation (CRD#:16507) of Scottsdale, AZ. His previous employers include Chase Investment Services Corp. (CRD#:25574) and Banc One Securities Corporation (CRD#:16999.) He has been in the industry since 2002.

The FBI opened an investigation on 2/14/2019 into Robert High over allegations of potential forgery and misappropriation of funds. On 2/20/2019, First Financial Equity Corporation discharged High for “violations of firm policies.” Continue reading ›

James Bradley Schwartz (CRD# 3043085) is a former registered broker whose last employer was Joseph Gunnar & Co. LLC (CRD#:24795) of New York, NY. Previous employers include First Standard Financial Company LLC (CRD#:168340) of Garden City, NY, and Aegis Capital Corp. (CRD#:15007) of Melville, NY.  He has been in the industry since 1998.During his tenure with Aegis (2013 through 2016), Schwartz was the subject of six customer disputes, all of which were settled by the firm. The allegations against Schwartz were similar: unauthorized and excessive trading, unsuitable recommendations, breach of fiduciary duty, negligence, misrepresentation, and others. The damages requested for these six disputes totaled $6,861,954.47, and the damages awarded totaled $2,730,286.36.James Schwartz (CRD# 3043085) is a former registered broker whose last employer was Joseph Gunnar & Co. LLC (CRD#:24795) of New York, NY. Previous employers include First Standard Financial Company LLC (CRD#:168340) of Garden City, NY, and Aegis Capital Corp. (CRD#:15007) of Melville, NY.  He has been in the industry since 1998. Continue reading ›

Barry Garapedian (CRD #1039251) is a currently-registered broker employed by Morgan Stanley (CRD #149777) of Westlake Village, CA. He has been with Morgan Stanley since 2009. He was previously employed by Citigroup Global Markets (CRD #7059), Lehman Brothers (CRD #7506), and E. F. Hutton & Company (CRD #235) He has been in the industry since 1982. Garapedian’s FINRA BrokerCheck report lists 14 disclosures starting in 1992, all customer disputes. He was the subject of three FINRA customer disputes in 2018, all with similar allegations of “unsuitability”. The first, in March 2018 was denied. The second was also filed in March 2018 and involves the period 2013 to 2015, and is listed as “pending.” The third claim, filed on 4/01/18, alleged excessive fees and overconcentration and was settled for $110,000. Garapedian’s statement denies the allegations, and maintains that everything was discussed with the customer prior to any transactions, and the investments recommended were suitable for the client.Barry Garapedian (CRD #1039251) is a currently-registered broker employed by Morgan Stanley (CRD #149777) of Westlake Village, CA. He has been with Morgan Stanley since 2009. He was previously employed by Citigroup Global Markets (CRD #7059), Lehman Brothers (CRD #7506), and E. F. Hutton & Company (CRD #235) He has been in the industry since 1982. Continue reading ›

It seems like a way to get justice against fraud: requesting an arbitration hearing with FINRA after losing money in a fraudulent or shady investment your broker insisted was solid. A defrauded investor then files a complaint with FINRA, who arranges an arbitration hearing, and money damages are awarded to the investor, paid by the broker and/or the broker dealer.Sounds fair, right?While many investors have been able to recover at least some of their losses, about 25% of these judgments go unpaid. FINRA arbitration panels awarded $84 million to investors in 2017 alone. Of that sum, $21 million of it remains unpaid. So what good is arbitration if you’re still waiting to receive your award from a “deadbeat?” Most of these awards are against small brokerage firms which are out of business and did not carry insurance.It seems like a way to get justice against fraud: requesting an arbitration hearing with FINRA after losing money in a fraudulent or shady investment your broker insisted was solid. A defrauded investor then files a complaint with FINRA, who arranges an arbitration hearing, and money damages are awarded to the investor, paid by the broker and/or the broker dealer.

Sounds fair, right?

While many investors have been able to recover at least some of their losses, about 25% of these judgments go unpaid. FINRA arbitration panels awarded $84 million to investors in 2017 alone. Of that sum, $21 million of it remains unpaid. So what good is arbitration if you’re still waiting to receive your award from a “deadbeat?” Most of these awards are against small brokerage firms which are out of business and did not carry insurance. Continue reading ›

Walter Roland Valenzuela (CRD #2280224) is a registered broker and investment advisor currently employed with Hilltop Securities Inc. (CRD #6220) of Del Mar, CA. His only previous employer was M.L. Stern & Co., LLC. (CRD #8327) of San Diego, CA, where he worked until 2008.  He has been in the industry since 1993.

Valenzuela is the subject of seven disclosures, all customer disputes. The most recent dispute was filed on 7/23/20018. Alleging unsuitable recommendations, misrepresentation and excessive trading, the client is requesting damages of $3,000,000. This case is “pending,” and no additional information is available.

Three Individuals Charged by the SEC for Defrauding Elderly Clients on elderfinancialfraudattorneys.comAnother still-pending dispute was filed on 8/24/2017, and will be in securities arbitration. The client lists multiple allegations, including elder abuse, financial exploitation, breach of fiduciary duty, excessive trading and misrepresentation. The damages requested are listed at $9,500,000.00. However the claim has no damage amount listed, and the final sum will be determined in arbitration.

Zachary-Bader-Suspended-After-Multiple-Allegations-of-Churning-300x232A man whose account was churned down to $10,000 was awarded both compensatory damages of $375,000 for his original investment plus an additional $700,000 in punitive damages. The client, Herbert W. Voss, was awarded $1.075 million by FINRA.

Mr. Voss’ attorney was quoted as saying that “It was like the Wild, Wild West in terms of lack of controls at the firm. It was unconscionable.”

Legend Securities, expelled by FINRA in April of 2017, was also known as Marlin Trading, Inc. and SPC Securities, Inc. The company’s record lists 32 disclosures. Many of these are similar to Mr. Voss as well as multiple fines and censures.

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