An investment fund manager based in Philadelphia made headlines recently when she was arrested and charged in connection with an alleged $100 million securities fraud scheme, according to the US Attorney’s office based in Newark, NJ. The fund manager, Brenda Smith of Philadelphia, PA, was charged with several counts of wire fraud and one count of securities fraud. She was arrested in Philadelphia and charged in Newark.
Green & Schafle are proud to announce that founding partner Michael Schafle has once again been honored by Best Lawyers for his work in Mass Tort Litigation and Class Actions for Plaintiffs.
The arbitration clause can be found in virtually all the account opening documents used by registered broker-dealers. Maybe your financial advisor or stock broker pointed it out to you — maybe not. Chances are extremely good, however, that you signed this clause and are now bound to resolve any disputes through arbitration.
According to the National Financial Capability Study, the majority of Americans — and especially millennials, minorities, and single women — have lost confidence and a feeling of stability when it comes to their personal finances. Remarkably, these feelings have arisen in spite of the fact that the economy has been steadily improving over the same period of time.
After experiencing a shoulder injury from a vaccine, individuals can be left with feelings of confusion, frustration, and helplessness. Many individuals decide to take no legal recourse because they do not want to sue their pharmacist or family doctor that administered the vaccine. Others do not want to go through a legal process altogether for fear of the court system. Others simply do not know where to turn after experiencing a shoulder injury related to a vaccine.
As a vast sector of the US population reaches old age and the systems in place to supervise its care remain inadequate, instances of elder abuse will continue to rise. This includes not only the physical and emotional abuse of the elderly in nursing homes and care facility, but also financial exploitation and abuse at the hands of family, friends, caregivers, and financial advisors.
Recent articles and reports about the Vaccine Injury Compensation Program have given anti-vax supports a new thread to pull on. Their belief is that, if vaccines do not cause harm, then why is there a governmental program designed to compensate vaccine injuries? In addition, if vaccine injuries are rare, how has the government paid out over $4 billion to vaccine injured victims?
On June 18, 2019, Pam Belluck and Reed Abelson from the New York Times published an article addressing the question of whether the existence of the National Vaccine Injury Compensation Program signaled that vaccines are unsafe. The authors begin their article by noting that over 6,600 claims have been compensated in the Vaccine Program since its inception, and the correlating payouts have totaled over $4 billion.
Elder abuse is everywhere, though; not just on the news. One of the reasons for the growing problem is that the largest and wealthiest generation in American history — the Baby Boomers — have retired and are aging. Meanwhile, their children and grandchildren may be struggling. This is a recipe for disaster and exploitation that regulators and legislators have been working diligently to solve before it gets any worse.
According to a report by the US Conference of Catholic Bishops, the Catholic Church in the United States spent a staggering more than $300 million on costs related to the clergy sexual abuse crisis. The report, which surveyed costs between June 2017 and June 2018, including nearly $200 million in legal settlements.
The Securities and Exchange Commission (SEC) adopted a rule to protect investors from bad brokers. The “Regulation Best Interest” (or BI) is the SEC’s answer to the Obama administration’s planned “fiduciary rule,” which the Trump administration killed. But will the Best Interest rule really be in the best interest of investors?
In an upcoming program directed at the general public, the SEC Philly office, in conjunction with the Financial Industry Regulatory Authority (FINRA), the Pennsylvania Department of Banking and Securities, and Temple University’s Institute on Protective Services, will share the latest on the products, strategies, and scams that most affect elderly investors.
From 2013 to 2017, the vaccine program has paid out an average of $229 million a year to injured victims and their families, with the average payment approximating $430,000. As America enters the worst measles outbreak since the disease was declared eradicated two decades ago, it is worth examining this rarely talked about element of vaccination requirements. The Vaccine Injury Compensation Program has long percolated at the heart of misinformation and misunderstanding. It also raises questions about where large sums of tax money are flowing.
For decades, leaders of the Roman Catholic dioceses of New Jersey remained silent on allegations of abuse by clergy members. But this month, the truth will out. Five archdioceses in New Jersey have begun to divulge information related to abuses that stretch back nearly one hundred years. They are finally naming names.
Securities industry regulatory body, FINRA (the Financial Industry Regulatory Authority), released its proposal for a rule that would crack down on firms with a high concentration of “bad” brokers. With its latest regulatory notice, FINRA stated that it would increase oversight of brokerages with a “significant history of misconduct,” requiring them to set aside additional funds that cannot be withdrawn without FINRA’s consent.
The financial industry self-regulator, FINRA, issued a new regulatory notice today aimed at broker-dealers with departing brokers. The notice was intended to urge broker-dealers to be more clear and forthright with customers about departing brokers and what will happen to the customers’ accounts. If you’ve ever been in the situation where your broker has either left for another firm, left the industry, or passed away, you understand just how confusing things can get when it comes to who will be handling your investments and why.
Two related bills are up for consideration in Harrisburg, both of which may pass in the House in upcoming days. This week, the House Judiciary Committee voted overwhelmingly for a bill that would remove the statue of limitations for child sexual abuse crimes and for a constitutional amendment that would permit child sexual-abuse lawsuits that would otherwise be outdated during a two-year period.