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Menzer & Hill, P.A. Announces Investigation
Press Release |
2010/09/08 09:26
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The Securities Arbitration Firm of Menzer & Hill, P.A. Announces Investigation Into The Sales Practices Of Broker-Dealers That Solicited Purchases of Inverse and Leveraged Exchange-Traded Funds (ETFs)
The Securities Arbitration Firm of Menzer & Hill, P.A. (www.suemyadvisor.com) announced today that it is investigating the sales practices of brokerage firms that solicited investors to buy leveraged and inversed Exchanged-Traded Funds (“ETFs”). Many brokerage firms, through their financial advisors, are soliciting purchases in these securities as investments, with holding periods longer than one day, while others are recommending option strategies on the underlying ETFs. The Financial Industry Regulatory Authority (“FINRA”), stated in a Regulatory Notice, sent to brokerage firms June 2009, that leveraged and inverse ETFs are “highly complex financial instruments” and “are typically not suitable for retail investors who plan to hold them for more than one trading [day], particularly in volatile markets.” Brokerage firms that failed to adhere to suitability requirements could be held liable to investors that sustained losses in solicited purchases of leveraged and inverse ETFs as a result. Investors that have purchased leveraged or inverse ETFs through a brokerage account or managed account offered by Merrill Lynch, a subsidiary of Bank of America (NYSE:BAC), Morgan Stanley Smith Barney (NYSE:MS), Wells Fargo Advisors (NYSE:WFC), Ameriprise Financial (NYSE:AMP), UBS (NYSE:UBS), LPL Financial, Raymond James (NYSE:RJF), Edward Jones, or other brokerage firms and have sustained losses should contact the attorneys at the Securities Arbitration Firm of Menzer & Hill, P.A. to determine if they have a claim for a recovery of losses. Leveraged and inverse ETFs can be volatile and investors may have realized or unrealized losses in the following ETFs year to date, including but not limited to: DRV down 63% (NYSEArca: DRV); | TMV down 46% (NYSEArca: TMV); | VXX down 44% (NYSEArca: VXX); | SRS down 43% (NYSEArca: SRS); | ZSL down 42% (NYSEArca: ZSL); | GAZ down 38% (NYSEArca: GAZ); | TZA down 36% (NYSEArca: TZA); | UNG down 35% (NYSEArca: UNG); | TBT down 34% (NYSEArca: TBT); | FAZ down 29% (NYSEArca: FAZ); and | UCO down 28% (NYSEArca: UCO). |
For a free case evaluation or to discuss any other investment losses, please contact the Securities Arbitration Firm of Menzer & Hill, P.A., at 888-923-9223, or visit us on the web at www.suemyadvisor.com. |
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Lustful Court residents tire of sinful street name
Headline Legal News |
2010/09/07 09:29
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Some residents of Lustful Court in a central Georgia community say they're tired of being kidded and want the street's sin-friendly name changed. Bibb County Commissioner Lonzy Edwards brought up a possible name change Tuesday after receiving complaints. Lustful Court resident Michelle Washington says the name sparks laughter and confusion when she tells people where she lives. Yoshonda Patterson says she thinks the name gives people the wrong idea about the neighborhood on the east side of Macon. After listening to residents, commissioners decided they'll consider the change if neighbors start a petition. The street is in a subdivision and no one could recall where the name originated. |
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Menzer & Hill, P.A. - Securities Attorneys
Legal Marketing |
2010/09/01 11:48
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Menzer & Hill, P.A. represents investors in the recovery of losses at the result of brokerage firms' failure to supervise their financial advisors who engage in unsuitable investment recommendations, the excessive trading of investors' accounts, inappropriate allocation of portfolio assets, misrepresentations
and/or material omissions of fact resulting in fraud, negligence, breach of fiduciary duties, selling away, failure to advise their clients of risk management strategies and excessive use of margin.
In addition to their legal and arbitration experience, the attorneys and founding partners of Menzer & Hill, P.A. bring with them extensive securities industry experience which
include in-house and chief corporate brokerage counsel, chief compliance officer supervising and regulating the practice of stockbrokers and financial advisors, as well as sales experience with advising clients and recommending the sale of securities and insurance. The attorneys and founding partners have essentially switched hats where they once represented the industry and broker-dealers, they now represent aggrieved investors. This yields a unique experience giving the firm intimate knowledge of the misconduct of
brokers and the details and nuances of the securities and insurance products they recommend.
Attorneys |
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DOJ's elite Public Integrity unit gets new leader
Legal Business |
2010/08/30 09:02
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The Justice Department's Public Integrity Section has a storied 34-year history of pursuing corruption in government and safeguarding the public trust. That trust was breached, however, when some of the unit's prosecutors failed to turn over evidence favorable to the defense in their high-profile criminal trial of Sen. Ted Stevens, R-Alaska, who died earlier this month in a plane crash. Now Jack Smith, a 41-year-old prosecutor with a love for courtroom work and an impressive record, has been brought in to restore the elite unit's credibility. Before Stevens, Public Integrity's renown was built on large successes — like the prosecution of the Jack Abramoff lobbying scandal and convictions of federal and state judges, members of Congress and state legislators, military officers, federal lawmen and bureaucrats and their state counterparts over the years. But its stumble — not disclosing exculpatory evidence as Supreme Court precedent requires — was equally large. It was so serious that Attorney General Eric Holder, one of Public Integrity's distinguished alums, stepped in and asked a federal judge to throw out Stevens' convictions. |
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Thousands sign on for $10 billion BP suit
Court Watch |
2010/08/30 07:01
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The revelation that BP's Texas City refinery emitted toxic benzene for more than a month has ignited a furor in the port community that has suffered its share of deadly industrial accidents and toxic spills. Thousands of residents who fear they may have been exposed to the known carcinogen released at the oil refinery from April 6 to May 16 have been flooding parking lots and conference halls where local trial attorneys hosted information sessions and sought clients for class-action lawsuits against the oil giant. BP faces the new challenge just as it is reaching a key milestone in another crisis — plugging the Gulf of Mexico well that blew out in an oil spill disaster that is costing the company billions of dollars. On Wednesday, more than 3,400 people lined the hallways and sidewalks around the Nessler Center to sign on to a $10 billion class-action lawsuit filed Tuesday in Galveston federal court by Friendswood attorney Anthony Buzbee. The lawsuit alleges the release of 500,000 pounds of chemicals - including 17,000 pounds of benzene - has jeopardized the health and property values of people who live and work in the area. At the nearby College of the Mainland, a separate town hall meeting drew a crowd of 600. |
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