South Florida Arbitration & Litigation Lawyer Blog

The purpose of this post is to raise investor awareness concerning phony Certificates of Deposits (CDs) promoted through internet advertising and “spoofed” websites – websites that mimic the actual sites of legitimate financial instructions. Investors should be extremely cautious when purchasing CDs from sites found only though internet searches. Please keep in mind that this…

In examining the concept of justifiable reliance, the Florida Supreme Court opined that the question is whether the recipient of a misrepresentation or omission is justified in relying upon its truth. For if the recipient “knows that it [the statement] or [omission] is false or its falsity is obvious to him/her, his/her reliance is improper,…

In Florida, the essential elements to establish a claim for fraudulent inducement are: (1) a false statement of material fact; (2) the maker of the false statement knew or should have known of the falsity of the statement; (3) the maker intended that the false statement induce another’s reliance; and (4) the other party justifiably…

SEC Charges Unregistered Sales Agent for Improperly Soliciting Investments in Oil and Gas Ventures Securities and Exchange Commission v. Chad Anthony Lewis, No. 18-cv-61869 (S.D. Fla. filed August 13, 2018) On August 13, 2018, the Securities and Exchange Commission filed a civil injunctive action against Chad Anthony Lewis, a Kentucky resident for unlawfully acting as…

SEC Charges Florida Cash Advance Company, Former CEO with Defrauding Thousands of Retail Investors Securities and Exchange Commission v. 1 Global Capital, LLC, Carl Ruderman, et al., No. 18-civ-61991 (S.D. Fla. filed August 23, 2018) The Securities and Exchange Commission today announced charges against 1 Global Capital LLC and its former chief executive officer for…

SEC Charges Two Kentucky Men in Oil-And-Gas Offering Fraud SEC v. Scott Stacy Phelps and James Michael Harper, United States District Court for the Western District of Kentucky (Bowling Green), Case No. 1:18-cv-122 On August 30, 2018, the Securities and Exchange Commission charged two Bowling Green, Kentucky-area men with defrauding investors in oil-and-gas securities offerings.…

EFG Capital International Corp. – Failure to Supervise – South Florida, including Boca Raton, Lake Worth, Deerfield Beach, Boynton Beach and West Palm Beach, FINRA Arbitration Attorney EFG Capital International Corp. (CRD #40118, Miami, Florida) Recently, the Financial Industry Regulatory Authority announced that EFG Capital International Corp. entered into an Acceptance, Waiver and Consent in…

Harold Connell – Private Placement Memorandums – Undisclosed Self-Offerings – Unregistered Regulation D Offerings – Fraud, Deceit and Misrepresentation – Boca Raton, Florida Finra Arbitration Attorney Harold Lee Connell (CRD #1482623, Pinecrest, Florida) Recently, the Financial Industry Regulatory Authority announced that Harold Lee Connell entered into an Acceptance, Waiver and Consent which barred Connell from…

How Are Microcap Stocks Different From Other Stocks? Lack of public information. Often, the biggest difference between a microcap stock and other stocks is the amount of reliable publicly-available information about the company. Most large public companies file reports with the SEC that any investor can get for free from the SEC’s website. Professional stock…

FAQ – Where Do Microcap Stocks Trade? Many microcap stocks trade in the “over-the-counter” (OTC) market. Quotes for microcap stocks may be available directly from a broker-dealer or on OTC systems such as the OTC Bulletin Board (OTCBB), OTC Link LLC (OTC Link), or Global OTC. OTC Bulletin Board is an electronic inter-dealer quotation system…