Soreide Law Group has been contacted by clients who were sold Spirit of America Energy A (SOAEX) by David Lerner Associates, Inc. Spirit of America Energy Fund (SOAEX), sold exclusively by David Lerner, was first issued in July of 2014. Since its inception, this fund is down -12.2%, and at its low has been down […]

On November 17, 2017, the Financial Industry Regulatory Authority (FINRA) fined former Morgan Stanley registered representative, TIMOTHY THOMAS GIBBONS (CRD#: 219872), $20,000, suspended him for 18 months, and required him to pay approximately $717,000 in restitution to five elderly clients. Gibbons allegedly over-concentrated the clients' accounts in a single high-risk energy sector security. According to […]

Soreide Law Group, based in South Florida, obtained the following information from FINRA’s November 2017 Disciplinary report regarding Miami broker:  Lorenzo C. Esteva (CRD #2170595, Miami, Florida) Lorenzo C. Esteva was barred by FINRA for allegedly failing to produce FINRA-requested documents and information as part of an investigation into client complaints that he allegedly provided […]

On November 15, 2017, JERRY LOU GUTTMAN (CRD#: 1078383), a former broker with United Planners Financial Services, Phoenix, Arizona, was barred by the Financial Industry Regulatory Authority (FINRA) for allegedly engaging in private securities transactions without his firm's prior approval. According to FINRA, from September 2008 through May 2017, Guttman participated in private securities transactions […]

Soreide Law Group is investigating claims involving alleged recommendations made by Janney Montgomery Scott LLC (JMS) broker, Jack W. Griffith Jr.'s of concentrated investments in energy. JMS has been sued by a foundation alleging that Jack W. Griffith Jr. recommended high-risk energy investments causing damages in excess of $4 million. Jack W. Griffith Jr. sold […]

Soreide Law Group has filed a FINRA arbitration on behalf of our clients (Claimants) against: HENNION & WALSH, INC. The Claimants, a married couple from New Jersey, were referred to HENNION & WALSH broker, Joseph Ismael Rodriguez (“Rodriguez”), CRD# 3093506, in 2012. The lawsuit alleges that the Claimants told Rodriguez that their investment objectives were […]

The Securities and Exchange Commission (SEC) has obtained a final judgement by default against former broker, DEMITRIOS HALLAS (CRD#: 4199832).  The SEC charged Hallas with "knowingly or recklessly trading unsuitable investment products" in the accounts of five of his clients and allegedly stealing more than $170,000 from one of them.  The SEC alleges Hallas deposited […]

Exelon Corp. announced on November 7, 2017, that its Texas subsidiary ExGen Texas Power (EGTP) Holdings LLC and ExGen Texas Power LLC filed for Chapter 11 bankruptcy with hopes of reducing debt at the companies. Exelon Corp has hired a debt restructuring adviser to help evaluate options for its merchant power plant subsidiary ExGen Texas Power LLC. The move comes […]

Soreide Law Group, based in Pompano Beach, Florida, obtained the following information from FINRA’s BrokerCheck, available to the public on FINRA’s website, concerning former West Palm Beach, Florida broker: LISA J LOWI (Also Known As:  LISA JACQUELINE LOWI, LISA LOWI, LISA JACQUELINE VINEBERG) CRD#: 1347790 On November 3, 2017, FINRA barred LISA J LOWI from […]