Even as reports continue to confirm that abuse and neglect in local nursing homes is a major issue facing our elderly, the Trump administration has elected to scale back fines against nursing homes that harm or jeopardize the well-being of residents.
Thousands of lawsuits have been filed against some of the largest manufacturers of IVC Filters, which are designed to trap blood clots passing through arteries and heading for the lungs. Now, litigation against one of the smaller manufacturers of these devices, Cordis Corporation, is picking up steam.
Financial fraudster are getting more creative - and audacious, according to a recent Investor Alert from the FINRA (the Financial Industry Regulatory Authority). FINRA is in charge of keeping an eye on the US Securities Industry. Shockingly, scam artists have recently been using FINRA itself - or its name at least - to separate investors from their money.
While obviously a hip replacement can’t “kill” the way a heart-attack can, a defective device can set off a sequence of events and conditions that can lead to serious harm or even death. And it happens far more often than we think, particularly because the manufacturers of these devices do not want anyone to know how often it happens.
Last week, federal prosecutors in North Carolina brought charges against Stephen C. Peters, the latest alleged Ponzi operator to hit the headlines. Peters has been charged with diverting more than $4.4 million of retirement savings from elderly investors. Rather than actually invest their money, Peters used it to remodel a ranch in North Carolina, purchase fine art, build a vacation home in Costa Rica, and buy horses.
Every year, new and more elaborate schemes appear to bilk older investors out of their life-savings. Fortunately, FINRA has committed itself to several early detection measures aimed at stemming the tide of elder financial abuse. The new measures also encourage broker-dealers to further supervise their own employees when it comes to suspicions of broker misconduct.
Over 4000 lawsuits have been filed against the two largest manufacturers of IVC (inferior vena cava) filters. In March, the first bellwether trial for these suits, against C.R. Bard and Cook Medical, will be heard. Patients around the country suffering as a result of defective IVC filters are waiting anxiously to see how the justice system will handle their plight.
From February 2011 to December 2015, Citigroup displayed to investors, brokers, and supervisors inaccurate ratings related to more than 1,800 equities, or more than 38% covered by the firm. These mistakes included the wrong execution recommendations (“buy” instead of “sell”); ratings which were mixed up between securities; or non-ratings for securities which were actually rated.
Green, Schafle & Gibbs has launched an investigation into the alleged Ponzi Scheme operated by Philadelphia-area stockbroker Paul W. Smith. Based in Wayne, PA, Smith operated a long-running Ponzi Scheme using purported investments in The Haverford Group, which costs a group of mostly retired and elderly investors approximately $2.35 million, according to the SEC.
There’s a universe of advice and information out there for investors looking to educate and protect themselves. Tune in to MSNBC or visit TheStreet.com and you’ll find a million answers to million different questions related to investing intelligently. But for all this “noise” about investing, there is some basic, critical information you probably will not hear about that could make all the difference to your financial well-being.
Getting hip implant surgery these days is easy enough. Unfortunately the problems tend to start after the procedure, when many patients notice symptoms and side-effects related to defective hip implant technology. In some cases, the technology is so dangerous - and causes so much pain - that hip implant revision surgery becomes necessary. In such cases, you may need to explore your legal rights.
In a notable FINRA arbitration award released late last month from a Philadelphia, Pennsylvania Arbitrator. Philadelphia-based FINRA attorney arbitration law firm, Green, Schafle & Gibbs, has secured a more than $63,000 arbitration award from brokerage firm Morgan Stanley Smith Barney to an investor who had sought $80,000 in financial damages.
A bellwether trial on October 23, 2017 will structure arguments for future matters pertaining to faulty IVC filter devices. This case is relevant for victims of faulty IVC filters because it will determine whether the manufacturer was negligent in selling and producing a product that has allegedly caused a number of injuries and fatalities.
In 2010, the FDA issued a safety warning over inferior vena cava (IVC) filters, a type of vascular filter implanted into the heart by radiologists or surgeons in order to presumably prevent life-threatening pulmonary emboli (PEs). In the years following the warning, the rate of implantation slowed, although it is still more than 10x higher than in Europe.