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3M pays U.S. government $9.1 million over dual-ended combat earplugs

By | January 6th, 2020|Categories: Uncategorized|Tags: , , , |

If you’re a veteran who suffers from hearing loss or ringing in your ears and used earplugs during your service, you may be entitled to compensation.  3M, manufacturer of the dual-ended Combat Arm Earplugs sold to the U.S. military, agreed to pay $9.1 million to the U.S. government to settle allegations that the company knowingly [...]

PTSD and Tininitus

By | January 2nd, 2020|Categories: product liability, Uncategorized|Tags: , |

Spencer Law Firm wrote about how veterans (PTSD and Tinnitus) have a high probability of experiencing PTSD and tinnitus. According to medical experts, patients with PTSD report their tinnitus symptoms are more intense than tinnitus patients who don’t have PTSD.    Marc Fagelson, a professor of audiology at East Tennessee State University, told the Hearing Journal [...]

SEC charges adviser for running Ponzi scheme targeting Haitians

By | November 26th, 2019|Categories: Uncategorized|Tags: , |

A New York investment adviser is facing fraud charges after the U.S. Securities and Exchange Commission says the man operated a Ponzi scheme fronted as a multi-million-dollar investment club targeting members of the Haitian community, his family and his friends. Ruless Pierre ran an investment club called the Amongst Friends Investment Group according to the [...]

Former top Merrill Lynch adviser barred from securities industry by FINRA

By | November 25th, 2019|Categories: Uncategorized|Tags: , , |

A former top Merrill Lynch adviser is suspended from the securities industry for 18 months by the Financial Industry Regulatory Authority. Bruce K. Lee agreed to the suspension and the $15,000 fine issued on October 23, 2019, according to FINRA’s Broker Check. “Without admitting or denying the findings, Lee consented to the sanctions and to [...]

Broker made millions off of elderly in Ponzi scheme says SEC and FINRA

By | November 20th, 2019|Categories: FINRA, Ponzi|Tags: , , |

A former broker accused of running a Ponzi scheme targeting elderly investors is banned from the securities industry by the U.S. Securities and Exchange Commission. James Booth of Norwalk, Connecticut was arrested on September 30, 2019 after the U.S. Department of Justice and the SEC said he raised approximately $4.9 million from nearly 40 investors. [...]

Reddit users who exploited finance app could be investigated by SEC, says expert

By | November 19th, 2019|Categories: Uncategorized|Tags: , , , |

Reddit users found what they call a “cheat code” to the trading app Robinhood. According to a thread on r/wallstreetbets, users figured out how to trade stocks with money they didn’t have but the app thought they did. Bloomberg describes the cheat code as “allowing users to trade stocks with excess borrowed funds, giving them [...]

Mass tort, explained

By | November 19th, 2019|Categories: Uncategorized|

Products that cause injury through design flaws or fail to properly give consumers an adequate warning can lead to mass tort. These cases can involve hundreds or thousands of people if a product causes injury to multiple people. But like many aspects in the legal system, mass tort can be confusing to understand. Here is [...]

Merrill Lynch, Raymond James pay $12 million to FINRA

By | November 18th, 2019|Categories: Uncategorized|Tags: , , , |

Customers who incurred excess fees on their 529 plans through Merrill Lynch, Pierce, Fenner & Smith, Raymond James & Associates, Inc., and Raymond James Financial Services, Inc. will receive approximately $12 million in restitution. The move comes after the Financial Industry Regulatory Authority announced on November 6, 2019, that the firms Merrill Lynch and Raymond [...]

SEC may update advertising rules

By | November 18th, 2019|Categories: FINRA|Tags: , , |

Professionals in the securities industry may get more freedom when it comes to advertising. In early November 2019, the U.S. Securities and Exchange Commission proposed updating the Investment Advisers Act of 1940 to allow investment advisers using endorsements and testimonials for advertisements on social media. Should the proposal be approved, the amendment would be the [...]

FINRA hits Merrill Lynch, Raymond James with $12 million in fines for 529 plans

By | November 15th, 2019|Categories: FINRA|Tags: , , |

Customers who incurred excess fees on their 529 plans through Merrill Lynch, Pierce, Fenner & Smith, Raymond James & Associates, Inc., and Raymond James Financial Services, Inc. will receive approximately $12 million in restitution. The move comes after the Financial Industry Regulatory Authority announced on November 6, 2019, that the firms Merrill Lynch and Raymond [...]