Federal Litigation

Hedge Fund Fraud and Misrepresentation – South Florida Hedge Fund Fraud, Misrepresentation and Mismanagement Litigation and FINRA Arbitration Attorney

Published on: January 28, 2014 | By Russell L. Forkey, P.A.

Hedge Fund Fraud, Mismanagement and Misrepresentation – South Florida Litigation and AAA Arbitration Attorney:

Securities and Exchange Commission v. Berton M. Hochfeld, et al, Civil Action No. 12-CV-8202 (S.D.N.Y.)

Final Judgments Entered Against Former Hedge Fund Manager and His Company

Elder, Senior and Retirement Abuse and Exploitation – Ponzi Scheme – South Florida Securities and Investment Fraud and Misrepresentation Litigation and FINRA Arbitration Attorney

Published on: January 28, 2014 | By Russell L. Forkey, P.A.

South Florida Elder, Senior and Retirement Financial Abuse and Exploitation FINRA Arbitration and Litigation Attorney:

Securities and Exchange Commission v. Palladino, et al., Civil Action No. 13-11024-DPW (United States District Court for the District of Massachusetts)

Commonwealth of Massachusetts v. Palladino, Crim. Action Nos. 13-10207, 13-10891; Commonwealth of Massachusetts v. Viking Financial Group, Inc., Crim. Action Nos. 13-10209, 13-10894 (Suffolk Superior Court)

Hybrid Elder and Senior Financial Exploitation and Abuse – South Florida Senior, Elder and Retirement Abuse and Exploitation Litigation, FINRA Arbitration and Probate Estate Attorney

Published on: January 23, 2014 | By Russell L. Forkey, P.A.

Hybrid Senior, Elder and Retirement Financial Abuse and Exploitation Arbitration, Litigation and Probate Estate Attorney, Russell L. Forkey, Esq.

Hybrid financial exploitation.

It has been determined that a relatively unrecognized situation, referred to as hybrid financial exploitation, arises when financial exploitation co-occurs with physical abuse and/or neglect. These cases typically involve financially dependent family members, particularly adult offspring, who have been cared for by the elderly person for years , if not decades. The abuse suffered by these elderly victims is frequently longstanding. Over time, however, as the elderly person’s health declines and the elderly person becomes more socially isolated, often as the result of the death of a spouse, the elderly person increasingly becomes more dependent on another family member for care, resulting in a mutual dependency, albeit with each member of the dyad experiencing a different type of dependency. Although sharing some features in common with physical abuse and neglect, hybrid financial exploitation cases are unique in many ways and tend to result in worse outcomes for elderly victims than result from other forms of elder maltreatment. These outcomes may be attributable to the additional stress associated with the financial loss that is experienced.

Support Level or Resistance Level – Florida Securities and Investment Mismanagement and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney

Published on: January 21, 2014 | By Russell L. Forkey, P.A.

Support Level or Resistance Level – South Florida, including West Palm Beach, Lake Worth, Delray Beach, Royal Palm Beach and Boynton Beach, Securities and Investment Mismanagement and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney:

A support level is a price level at which a security tends to stop falling because there is more demand for the security than supply. Technical analysts identify support levels as prices at which a particular security or market has bottomed in the past. When a stock is falling towards its support level, analysts say it is “testing its support” level and that the stock should rebound as soon as it hits the support price. If the security continues to drop through the support level, its outlook is considered bearish. The opposite of a support level is a resistance level.

Please keep in mind that the above information is being provided for educational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon as legal or investment advice. If the reader has any questions concerning the contents of this post, you should consult a qualified professional.

Promissory Note and Use of Funds Agreements – Florida Securities and Investment Fraud Litigation and Arbitration Attorney

Published on: January 7, 2014 | By Russell L. Forkey, P.A.

Securities and Exchange Commission v. Eric Aronson, Vincent Buonauro, Jr., Robert Kondratick, Fredric Aaron, PermaPave Industries, LLC, PermaPave USA Corp., PermaPave Distributions, Inc., Verigreen, LLC, and Interlink-US-Network, Ltd., Defendants, and Caroline Aronson, Deborah Buonauro, DASH Development, LLC, Aron Holdings, Inc., PermaPave Construction Corp., Dymoncrete Industries, LLC, Dymon Rock LI, LLC, and Lumi-Coat, Inc., Relief Defendants, Civil Action No. 11 Civ. 7033 (S.D.N.Y. filed Oct. 6, 2011)

District Court Finds Eric Aronson Liable for Operating a Ponzi Scheme, Issues Permanent Injunctions Against Remaining Individual Defendants and Grants Other Relief

The Securities and Exchange Commission recently announced that U.S. District Court Judge Jed S. Rakoff has ruled that Defendant Eric Aronson violated the antifraud and other provisions of the federal securities laws. In addition, the Court entered orders of permanent injunctions against Defendants Vincent Buonauro and Fredric Aaron and further imposed officer and director and penny stock bars against Aaron. Furthermore, the Court ordered Aronson’s wife, Relief Defendant Caroline Aronson, to disgorge the ill-gotten gains she received from her husband.

Asset Management, Cash Management or Active Assets Account – South Florida Broker/Dealer Fraud, Mismanagement or Breach of Fudiciary Duty FINRA Arbitration and Litigation Attorney

Published on: January 6, 2014 | By Russell L. Forkey, P.A.

Cash Management, Active Asset, Asset Management or Wrap Accounts – Hollywood, Fort Lauderdale, Margate, Davie, Pompano Beach, Boca Raton and Royal Palm Beach, Florida FINRA Arbitration and Litigation Attorney:

Cash Management, Active Asset, Asset Management or Wrap Accounts describe accounts at brokerage firms, banks or savings institutions that combine banking services like check writing, credit cards, and debit cards with brokerage features of buying and selling securities on margin.

Because of the nature of these accounts, it will be necessary for the customer to execute various agreements, which specifically set forth the terms of the relationship and the charges associated with each activity. Consequently, it is important that you read and understand all of the material terms of the agreement.

Mutual Fund Switching – South Florida Mutual Fund Fraud and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney

Published on: January 4, 2014 | By Russell L. Forkey, P.A.

Unsuitable and Inappropriate Mutual Fund Switching – Stuart, Hope Sound, Jupiter, West Palm Beach, Lantana, Delray Beach, Lake Worth and Boca Raton, Florida FINRA Arbitration, Mediation and Litigation Attorney:

Mutual Fund Switching:

Mutual fund switching is the moving of assets from one mutual fund to another, either within the same fund family or between different fund families. There is no charge for switching within a no-load family of mutual funds. A sales charge might have to be paid when switching from on load fund to another even within the same family of funds.

FAQ’s Warrants – Florida Securities and Investment Fraud, Misrepresentation and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney

Published on: January 3, 2014 | By Russell L. Forkey, P.A.

FAQ’s Warrants – Miami, Hollywood, Fort Lauderdale, Deerfield Beach, Lighthouse Point and Boca Raton, Florida FINRA Arbitration and Litigation Attorney:

A warrant is a type of security, usually issued in conjunction with common or preferred stock, that entitles the holder to buy a proportionate amount of common stock at a specified price, usually higher than the market price at the time of issuance, for a period of years or to perpetuity.

Many times warrants are included as part of units issued in private placements. The warrants are included as part of the units as a “kicker” to the investor to take on the risk associated with investing in the private placement. Conversely, if the warrants are exercised, they provide the issuer with additional unsolicited funds.

FAQ’s Regarding Annuity Types – South Florida Immediate, Deferred, Fixed and Variable Annuity Twisting or Churning FINRA Arbitration and Litigation Attorney

Published on: January 3, 2014 | By Russell L. Forkey, P.A.

Florida Immediate Annuity, Deferred Annuity, Fixed Annuity and Variable Annuity Twisting or Churning FINRA Arbitration and Litigation Attorney:

There are several ways to categorize annuities, and any one annuity may fit into several categories. Immediate Annuities: With an immediate annuity, the annuant pays a single premium and immediately starts receiving payments at the end of each payment period, which is usually monthly or annually. Deferred Annuities: With a deferred annuity, the annuant pays one or more premiums over what is often called the accumulation period. The premiums paid and the interest credited to the premiums goes into a fund called an accumulation fund. There may be a minimum guaranteed interest rate at which the money will accumulate during the accumulation period. Fixed Annuities: A fixed annuity provides fixed-dollar income payments backed by the guarantees in the contract. The annuant cannot lose the investment once the income payments begin. The amount of those payments will not change. With fixed annuities, the company bears the investment risk. Variable Annuities: Variable annuity investments are securities, and fluctuate with economic conditions. The value of a variable annuity depends upon the value of the underlying investment portfolios associated with the annuity. The annuitant bears the investment risk for the value of the security. The value of the annuity will increase or decrease with the investment performance of the security.

Please keep in mind that the above information is being provided for educational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon as legal or investment advice. If after reading this post, you should consult with a qualified professional.

Face Value of Bonds, Notes and Other Securities – Florida Securities and Investment Mismanagement and Breach of Fiduciary Duty FINRA Arbitration and Litigation Attorney

Published on: January 1, 2014 | By Russell L. Forkey, P.A.

Face Value of Bonds, Notes and Other Types of Securities – South Florida FINRA Arbitration and Litigation Attorney:

When using the term “Face Value” in referring to a security, it means the value as given on the certificate or instrument. For example, corporate bonds are usually issued with $1,000 face values, municipal bonds with $5,000 face values and federal government bonds with $10,000 face values. If these instruments are held to maturity, the investor, absent default, would receive the face value of the instrument. This is not necessarily true if the instrument is sold before maturity as the value of the bonds fluctuate in price from the time that they are issued until redemption. This price fluctuation is based upon a number of factors, including the credit worthiness of the issuer, the interest rate carried by the bond and the length of time until maturity.

Please keep in mind that this information is being provided for educational purposes only. It is not designed to be complete in all material respects. Thus, it should not be relied upon as legal or investment advice. If you have any questions concerning the contents of this post, you should contact a qualified professional.