Soreide Law Group is currently investigating the following funds on behalf of clients: MM Community Funding II and III, South Coast Funding Ltd. II, and Fort Point CDO I, Ltd. Some of these funds were sold by Citigroup and/or Morgan Stanley.
MM Community III is a collateralized debt obligation(CDO), which closed April 10, 2002. MM Community III is a static pool composed of bank and thrift trust preferred securities. According to a report done on the fund, "it was determined that the current ratings assigned to the senior and subordinate notes still reflect the current risk to noteholders."
South Coast II is a collateralized debt obligation (CDO) that closed on June 6, 2002 and is managed by TCW Investment Management Company. The reinvestment period ended in June 2006. South Coast II has a portfolio primarily of subprime residential mortgage-backed securities (RMBS) bonds, Alternative-A (Alt-A)RMBS, prime RMBS, and other structured finance assets.
Fort Point I entered an Event of Default on Oct. 6, 2009 after the class A overcollateralization ratio fell below 100%. A notice of liquidation was subsequently issued on Sept. 25, 2013.
If you feel your broker/financial advisor recommended these or other risky investments for your otherwise conservative portfolio, call Soreide Law Group, at 888-760-6552 for a free consultation with an attorney. Soreide Law Group has represented clients nationwide before FINRA.
Investors apparently complained about securities broker Matthew Robert Westberry (also known as Matt Westberry) [CRD: 4908745, Marion, Iowa], based on public information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Westberry worked for SCF Securities Inc. from February 28, 2022, to October 23, 2024, and previously worked for LPL Financial LLC from August 10, 2018, to […]
Investors may have suffered financial harm by securities broker Joseph Anthony Monaco Jr. [CRD: 1398158, Melville, New York], given the public information found on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Monaco worked for Oppenheimer Co. Inc. from June 7, 2023, to December 6, 2024, and previously worked for Stifel Nicolaus from June 25, 2014, to […]
Investors potentially experienced sales practice violations by securities broker Scott Thomas Schaul [CRD: 2200484, Attleboro, Massachusetts], based on publicly available information on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Schaul worked for Essex Securities LLC from March 22, 2010, to August 6, 2019, Pinnacle Investments LLC from June 28, 2019, to April 13, 2026, and has […]
Phone:
Fax: 1-954-760-6553
Email: info@securitieslawyer.com