Articles Posted in Breach of Fiduciary Duty

Master Limited Partnership v. Public Limited Partnership – Florida Limited Partnership – Federal and State Litigation Attorney: Fraud in the Inducement, breach of the partnership agreement, mismanagement of the partnership, self-dealing and fraud in the operation of the partnership. A limited partnership is a form of legal entity created under the law of a particular…

Leverage Abuse, Exploitation and Manipulation – South Florida State and Federal Fraud, Misrepresentation and Breach of Contract Attorney: Leverage may be used in a number of circumstances. In the business arena, three common uses, of leverage, relate to investments, financial leverage and operating leverage. Investment Leverage (also known as margin) uses the equity in your…

Securities and Exchange Commission v. Brian K. Velten, Civil Action No. 1:13-cv-23477 (S.D. Fla.) The Securities Exchange Commission (“SEC”) recently filed a civil injunctive action in the United States District Court for the Southern District of Florida against Brian K. Velten alleging violations of the antifraud provisions of the federal securities laws in connection with…

Securities and Exchange Commission v. OM Investment Management LLC, Gignesh Movalia, and Edwin V. Gaw, Civil Action No. 1:13-cv -23486-Martinez (S.D. Fla., filed September, 2013) SEC Charges Tampa-Based Adviser with Fabricating Statements and Making Unauthorized and Undisclosed Investments The Securities and Exchange Commission recently charged a formerly SEC-registered Tampa-based investment adviser, OM Investment Management LLC,…

Securities and Exchange Commission v. Frank Dappah and Yatalie Capital Management, et al., Civil Action No. 3:13-cv-00546 (W.D.N.C.) SEC Charges Charlotte Investment Advisors with Excessive Fee Scheme Recently, the Securities and Exchange Commission filed an action in federal court in the Western District of North Carolina, charging Frank Dappah of Charlotte, NC, and his firm,…

Florida Elder Abuse and Financial Loss FINRA Arbitration and Litigation Attorney: Federal Regulators Issue Guidance on Reporting Financial Abuse of Older Adults Seven federal regulatory agencies recently issued guidance to clarify that the privacy provisions of the Gramm-Leach-Bliley Act generally permit financial institutions to report suspected elder financial abuse to appropriate authorities. The Gramm-Leach-Bliley Act…

No-Load Mutual Fund – South Florida Mutual Fund Breach of Fiduciary Duty, Negligence and Breach of Contract FINRA Arbitration and Litigation Attorney: A “No-Load” fund is a mutual fund offered by an open-end investment company that imposes on sales charge (load) on its shareholders. Investors buy shares in no-load funds directly from the fund companies,…

In the Matter of Sarkauskas & Associates, Inc. and James M. Sarkauskas Recently, the Securities and Exchange Commission issued a settled Order Instituting Administrative and Cease-and-Desist Proceedings, Pursuant to Section 15(b) of the Securities Exchange Act of 1934, Section 203(e), 203(f) and 203(k) of the Investment Advisers Act of 1940, and Section 9(b) of the…

Securities and Exchange Commission Charges Purported Money Manager in New York Who Schemed Investors and Lied to Commission Examiners The Securities and Exchange Commission (Commission) recently charged the owner of a New York-based investment advisory firm with defrauding investors while grossly exaggerating the amount of assets under his management. The SEC alleges that Fredrick D.…

Hedge Funds – Investment Loss and Mismanagement Federal and State Litigation Attorney: “Hedge fund” is a general, non-legal term used to describe private, unregistered investment pools that traditionally have been limited to sophisticated, wealthy investors. Hedge funds are not mutual funds and, as such, are not subject to the numerous regulations that apply to mutual…