Securities Litigation

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 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.

FAQ’s About Asset Allocation – South Florida Improper and Unsuitable Asset Allocation FINRA Arbitration and Litigation Attorney

Published on: December 25, 2013 | By Russell L. Forkey, P.A.

South Florida Improper and/or Unsuitable Asset Allocation FINRA Arbitration, Federal and State Court Litigation Attorney:

Asset Allocation – Asset Allociation involves dividing an investment portfolio among different asset categories, such as stocks, bonds, and cash. The process of determining which mix of assets to hold in your portfolio is a very personal one. The asset allocation that works best for you at any given point in your life will depend largely on your time horizon and your ability to tolerate risk.

Time Horizon – Your time horizon is the expected number of months, years, or decades you will be investing to achieve a particular financial goal. An investor with a longer time horizon may feel more comfortable taking on a riskier, or more volatile, investment because he or she can wait out slow economic cycles and the inevitable ups and downs of our markets. By contrast, an investor saving up for a teenager’s college education would likely take on less risk because he or she has a shorter time horizon.

False and Misleading Sales and Promotional Materials – Florida Investment Adviser Fraud and Misrepresentation Litigation and Arbitration Attorney

Published on: December 24, 2013 | By Russell L. Forkey, P.A.

Florida Investment Advisor and Broker/Dealer False and Misleading Offering and Promotional Materials Fraud and Misrepresentation FINRA Arbitration and Litigation Attorney:

Securities and Exchange Commission v. Patrick G. Rooney and Solaris Management, LLC, Civil Action No. 11-8264 (N.D. IL)

SEC Obtains Order of Permanent Injunctions Against Chicago-Area Investment Adviser and Its Owners for Fraud

Unregistered Offer and Sale of Securities – South Florida Unregistered Sale of Securities Litigation and Arbitration Attorney

Published on: December 24, 2013 | By Russell L. Forkey, P.A.

Offer and sale of securities sold in violation of the registration provisions of Section 5 of the Securities Act of 1933 – South Florida Unregistered Sale of Securities Litigation and Arbitration Attorney:

Securities and Exchange Commission v. Dawn Wright-Olivares and Daniel Olivares, Civil Action No. 3:13-CV-700

SEC Charges Woman and Stepson for Involvment in Zeekrewards Pyramid and Ponzi Scheme; Parallel Criminal Charges and Plea Agreements Also Announced:

Trade Execution / Markup and Markdown Fraud and Misrepresentation – South Florida FINRA Arbitration and Litigation Attorney

Published on: December 20, 2013 | By Russell L. Forkey, P.A.

South Florida Transaction Markup, Markdown and Other Cost Fraud, Misrepresentation, Nondisclosure, Breach of Fiduciary Duty and False Disclosure FINRA Arbitration and Litigation Attorney:

The Securities and Exchange Commission recently announced fraud charges against three brokerage subsidiaries and two former employees of a global trading services provider that caused many institutional clients to pay substantially higher amounts than disclosed for the execution of trading orders.

These subsidiaries of ConvergEx Group agreed to pay more than $107 million and admit wrongdoing to settle the SEC’s charges. The former employees, Jonathan Daspin and Thomas Lekargeren, also agreed to admit and settle the charges against them.

Collateralized Debt Obligation (CDO) – South Florida Investment Advisory Firm Fraud, Misrepresentation and Breach of Fiduciary Duty Arbitration and Litigation Attorney

Published on: December 17, 2013 | By Russell L. Forkey, P.A.

South Florida Investment Advisor Fraud, Breach of Contract, Breach of Fiduciary Duty and Mismanagement Litigation and Arbitration Attorney:

The Securities and Exchange Commission recently charged the managing partners of a Charlotte, N.C.-based investment advisory firm for compromising their independent judgment and allowing a third party with its own interests to influence the portfolio selection process of a collateralized debt obligation (CDO) being offered to investors.

The investment managers have agreed to collectively pay more than $472,000 and exit the securities industry to settle the SEC’s charges.