Articles Posted in financial advisor malpractice

Iorio Altamirano Llp Investigates Ausdal Financial Partners, Inc. For the Sale of GWG L Bonds
Iorio Law PLLC

Iorio Altamirano LLP and its experienced GWG Holdings L Bonds attorneys, representing retail investors nationwide, continue to investigate and file claims against Ausdal Financial Partners, Inc. for its sale of speculative, high-risk, illiquid, high-commission, and unrated GWG L Bonds to retail investors. The law firm’s investigation is ongoing after three separate arbitration panels awarded investors…

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Iorio Altamirano LLP Continues to Investigate Centaurus Financial for the Sale of GWG L Bonds
Iorio Law PLLC

Iorio Altamirano LLP and its experienced GWG Holdings L Bonds attorneys continue to investigate and file claims against Centaurus Financial for its sale of risky and speculative GWG L Bonds to mom-and-pop investors. The law firm’s investigation is ongoing after two separate FINRA arbitration panels awarded investors damages in connection with the sale of L…

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“I Continue to Believe That the [gwg] L Bondholders Will Lose a Very Large Percentage of Their Investments” – Bankruptcy Judge Marvin Isgur
Iorio Law PLLC

**Update: November 1, 2023** On October 13, 2023, the GWG Wind Down Trust sold two of its four assets for only approximately $10.5 million. The GWG Wind Down Trust sold its largest tangible asset, its portfolio of life insurance policies, realizing only $10 million in cash. In addition, on October 13, 2023, the GWG Wind…

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David Lerner Associates Customers Seek up to $1 Million in Damages for Energy 11, Energy 12, and Spirit of America Energy Fund (SOAEX) Investments
Iorio Law PLLC

An elderly couple in their upper 80s filed a FINRA arbitration claim against David Lerner Associates, Inc. (“David Lerner Associates”) to recover losses and damages of up to $1 million. The couple, represented by securities arbitration law firm Iorio Altamirano LLP, alleges that David Lerner Associates recommended an unsuitable investment strategy to invest and concentrate…

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Navigating Finra Arbitration: A Closer Look at Securities Dispute Resolution
Iorio Law PLLC

Introduction When disputes arise between investors and brokerage firms, they are usually resolved through arbitration. The Financial Industry Regulatory Authority (FINRA) offers a streamlined and cost-effective dispute resolution forum for resolving disputes in the securities industry. In this blog post, we’ll take a deep dive into FINRA arbitration, its key features, benefits, and what you…

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GWG’s Bankruptcy Plan Goes into Effect; GWGL Bonds Canceled
Iorio Law PLLC

On August 1, 2023, GWG Holdings, Inc.’s Chapter 11 bankruptcy plan (the “Plan”) went into effect. As part of the Plan, GWG will be liquidated, and two liquidating trusts have been created: (i) the Wind Down Trust and (ii) the Litigation Trust. As a result of the Plan going into effect, all securities issued by…

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GWG Bankruptcy Update (July14, 2023): The Residual Value of the GWG L Bonds Remains Suspect as Beneficient Receives a Wells Notice from the SEC
Iorio Law PLLC

On June 20, 2023, the United States Bankruptcy Court for the Southern District of Texas entered an Order confirming GWG’s Further Modified Second Joint Chapter 11 Plan (the “Chapter 11 Plan”). GWG has disclosed that they are targeting July 31, 2023, as the effective date for the Plan. As part of the Chapter 11 Plan,…

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Former GPB Capital Executive Pleads Guilty to Wire Fraud
Iorio Law PLLC

On Tuesday, June 6, 2023, Jeffrey Lash, a former executive of GPB Capital Holdings, pleaded guilty to one count of wire fraud in federal court in Brooklyn, NY. In 2021, a federal grand jury brought criminal charges against Lash, David Gentile (founder and owner of GPB Capital), and a third individual, Jeffry Schneider. The charges…

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Former Morgan Stanley Broker Michael R. Neill Suspended
Iorio Law PLLC

The Financial Industry Regulatory Authority (“FINRA”) has suspended former Morgan Stanley broker Michael R. Neill from the securities industry for one month and fined him $5,000. Mr. Neill consented to the suspension after FINRA alleged that Mr. Neill violated FINRA Rules 4511 and 2010 by altering representative codes for 219 trades from January 2014 through…

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