Soreide Law Group, PLLC, and Securities Attorney Lars K. Soreide, are investigating James J. Albright, Jr., and Sagepoint Financial, Inc., previously known as AIG Financial Advisers, of Manitowoc, Wisconsin. The alleged claims are based on Albright’s recommendations to his clients to purchase unsuitable, risky and illiquid non-traded real estate investment trusts (“REITs”). Due to the result of Albright’s alleged sales practices, his […]

Soreide Law Group is currently investigating claims against brokers who have over concentrated their clients into Facebook stock. Amazingly, Facebook's p/e (Price to Earnings) ratio is 105 to 1.  Consider for a moment that a fairly valued stock is normally around 15 to 1.  Apple, for example, is 13 to 1, Microsoft is 11 to […]

It was recently announced that the Royal Bank of Canada (RBC) will repay investors in Massachusetts, $2.9 million on losses from leveraged and non-leveraged exchange-traded funds, also know as ETFs.  This is just another example of the losses experienced, and now the crackdown on these very volatile funds. Massachusetts' top securities regulator, William Galvin, said in […]

Soreide Law Group, PLLC, is currently investigating the sale of promissory notes to investors by their broker/dealers. Again, many conservative investors have said they were sold these notes as “low risk” when in fact, they were highly risky or fraudulent. These investments also paid significantly higher fees to the brokers, making them much more motivated […]

It was announced today that a federal judge sentenced a 36-year-old Dallas man, Joseph Blimline, in connection with his role in a pair of complex, lucrative oil and gas Ponzi schemes that operated in Michigan and Texas, U.S. Attorney for the Eastern District of Texas John M. Bales announced. Joseph Blimline was sentenced to 240 months in federal […]

The investors of RMC Medstone Capital V Notes (RMC Medstone), received a Notice of Default in September, 2011, informing them that their investment in this company was now worthless. Investors in these promissory notes allege they were sold these notes as 'low risk' and would be a 'safe' product in their otherwise conservative portfolio. These alleged representations […]

Soreide Law Group, PLLC, is currently investigating the sale of promissory notes to investors by their brokerages.  Again, many conservative investors have said they were sold these notes as "low risk" when in fact, they were highly risky or fraudulent.  These investments also paid significantly higher fees to the brokers, making them much more motivated […]

This past Tuesday, May 1st., FINRA, the Financial Industry Regulatory Authority, Inc. fined four major brokerages $9.1 million for selling complex ETFs (Exchange Traded Funds) to investors whose portfolios were otherwise conservative.  Without admitting or denying the charges, the brokerges will be paying $7.3 million in fines, and $1.8 million in restitution to the clients who […]

The Financial Industry Regulatory Authority, or FINRA, recently awarded the following settlements in arbitrations:     Robinson v. Schmerman, FINRA ID # 12-00389 (Phoenix, AZ, 4/18/2012) - A sole Arbitrator, in a bifurcated Rule 12801 default proceeding, holds a broker who allegedly failed to follow instructions liable to a customer for $538,400, including $100,000 in punitive damages. […]