{"id":9342,"date":"2020-09-11T17:36:42","date_gmt":"2020-09-11T21:36:42","guid":{"rendered":"https:\/\/www.silverlaw.com\/blog\/?p=9342"},"modified":"2020-09-11T17:36:42","modified_gmt":"2020-09-11T21:36:42","slug":"sec-sues-rrbb-asset-management-llc-and-owner-carl-schwartz-in-alleged-cherry-picking-scheme","status":"publish","type":"post","link":"https:\/\/www.silverlaw.com\/blog\/sec-sues-rrbb-asset-management-llc-and-owner-carl-schwartz-in-alleged-cherry-picking-scheme\/","title":{"rendered":"SEC Sues RRBB Asset Management, LLC And Owner Carl Schwartz In Alleged \u201cCherry Picking\u201d Scheme"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-9343 size-full\" src=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/09\/RRBB.jpg\" alt=\"On September 10, 2020, the Unites States Securities and Exchange Commission (SEC) filed a civil Complaint in U.S. District Court for the District of New Jersey against defendants RRBB Asset Management, LLC and Carl S. Schwartz. According to the \u201cSummary\u201d contained in the SEC\u2019s Complaint, Schwartz engaged in \u201ccherry picking,\u201d the act of disproportionately allocating profitable trades to accounts held by certain clients while allocating less profitable trades to other clients. The SEC alleges that by engaging in \u201ccherry picking,\u201d RRBB and Schwartz earned substantial management fees and convinced their clients that RRBB and Schwartz were better money managers than they really were. This conduct, according to the SEC\u2019s Complaint, violates the Securities Exchange Act of 1934 and the Investment Advisers Act of 1940.\" width=\"300\" height=\"200\" srcset=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/09\/RRBB.jpg 300w, https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/09\/RRBB-180x120.jpg 180w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/>On September 10, 2020, the Unites States Securities and Exchange Commission (SEC) filed a civil Complaint in U.S. District Court for the District of New Jersey against defendants RRBB Asset Management, LLC and Carl S. Schwartz. According to the \u201cSummary\u201d contained in the SEC\u2019s Complaint, Schwartz engaged in \u201ccherry picking,\u201d the act of disproportionately allocating profitable trades to accounts held by certain clients while allocating less profitable trades to other clients.  <a href=\"https:\/\/www.silverlaw.com\/blog\/sec-sues-rrbb-asset-management-llc-and-owner-carl-schwartz-in-alleged-cherry-picking-scheme\/#more-9342\" class=\"more-link\">Continue reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On September 10, 2020, the Unites States Securities and Exchange Commission (SEC) filed a civil Complaint in U.S. District Court for the District of New Jersey against defendants RRBB Asset Management, LLC and Carl S. Schwartz. According to the \u201cSummary\u201d contained in the SEC\u2019s Complaint, Schwartz engaged in \u201ccherry picking,\u201d the act of disproportionately allocating [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[583,580],"tags":[],"class_list":["post-9342","post","type-post","status-publish","format-standard","hentry","category-sec-actions","category-stockbroker-misconduct"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>SEC Sues RRBB Asset Management, LLC And Owner Carl Schwartz<\/title>\n<meta name=\"description\" content=\"The SEC filed a civil Complaint RRBB Asset Management, LLC and Carl S. Schwartz alleging that they engaged in \u201ccherry picking\u201d.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silverlaw.com\/blog\/sec-sues-rrbb-asset-management-llc-and-owner-carl-schwartz-in-alleged-cherry-picking-scheme\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"SEC Sues RRBB Asset Management, LLC And Owner Carl Schwartz\" \/>\n<meta name=\"twitter:description\" content=\"The SEC filed a civil Complaint RRBB Asset Management, LLC and Carl S. Schwartz alleging that they engaged in \u201ccherry picking\u201d.\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/09\/RRBB.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Silver Law Group\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"SEC Sues RRBB Asset Management, LLC And Owner Carl Schwartz","description":"The SEC filed a civil Complaint RRBB Asset Management, LLC and Carl S. 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Schwartz alleging that they engaged in \u201ccherry picking\u201d.","twitter_image":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/09\/RRBB.jpg","twitter_misc":{"Written by":"Silver Law Group","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.silverlaw.com\/blog\/sec-sues-rrbb-asset-management-llc-and-owner-carl-schwartz-in-alleged-cherry-picking-scheme\/#article","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-sues-rrbb-asset-management-llc-and-owner-carl-schwartz-in-alleged-cherry-picking-scheme\/"},"author":{"name":"Silver Law Group","@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"headline":"SEC Sues RRBB Asset Management, LLC And Owner Carl Schwartz In Alleged \u201cCherry Picking\u201d Scheme","datePublished":"2020-09-11T21:36:42+00:00","mainEntityOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-sues-rrbb-asset-management-llc-and-owner-carl-schwartz-in-alleged-cherry-picking-scheme\/"},"wordCount":601,"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-sues-rrbb-asset-management-llc-and-owner-carl-schwartz-in-alleged-cherry-picking-scheme\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/09\/RRBB.jpg","articleSection":["SEC Actions","Stockbroker Misconduct"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.silverlaw.com\/blog\/sec-sues-rrbb-asset-management-llc-and-owner-carl-schwartz-in-alleged-cherry-picking-scheme\/","url":"https:\/\/www.silverlaw.com\/blog\/sec-sues-rrbb-asset-management-llc-and-owner-carl-schwartz-in-alleged-cherry-picking-scheme\/","name":"SEC Sues RRBB Asset Management, LLC And Owner Carl Schwartz","isPartOf":{"@id":"https:\/\/www.silverlaw.com\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-sues-rrbb-asset-management-llc-and-owner-carl-schwartz-in-alleged-cherry-picking-scheme\/#primaryimage"},"image":{"@id":"https:\/\/www.silverlaw.com\/blog\/sec-sues-rrbb-asset-management-llc-and-owner-carl-schwartz-in-alleged-cherry-picking-scheme\/#primaryimage"},"thumbnailUrl":"https:\/\/www.silverlaw.com\/blog\/wp-content\/uploads\/2020\/09\/RRBB.jpg","datePublished":"2020-09-11T21:36:42+00:00","author":{"@id":"https:\/\/www.silverlaw.com\/blog\/#\/schema\/person\/de64d999508b1ad10d608a99f0d2e752"},"description":"The SEC filed a civil Complaint RRBB Asset Management, LLC and Carl S. 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