A class action lawsuit has been initiated in the United States District Court for the Southern District of New York on behalf of Amgen investors. The lawsuit pertains to all individuals who purchased or acquired Amgen common stock between July 29, 2020 and April 27, 2022, inclusive. The complaint filed by the plaintiffs alleges that [...]
Merrill Lynch, Pierce, Fenner & Smith Incorporated has been charged by the Securities and Exchange Commission (SEC) for imposing undisclosed foreign exchange fees on advisory clients. According to the SEC, Merrill Lynch charged more than $4 million in fees for transfers to or from advisory clients' accounts. Merrill Lynch offered programs to advisory clients from [...]
The Securities and Exchange Commission (SEC) has charged three executives of Austal USA LLC, a shipbuilder based in Mobile, Alabama, for their involvement in a fraudulent revenue recognition scheme. The scheme allowed Austal's parent company, Austal Limited, to meet or exceed analyst expectations. The SEC alleges that from January 2013 to July 2016, Craig D. [...]
Chatham Asset Management LLC, a New Jersey-based investment company, and its founder, Anthony Melchiorre, have been charged by the Securities and Exchange Commission (SEC) for engaging in improper trading of certain fixed income securities. The SEC has ordered Chatham and Melchiorre to pay more than $19.3 million in combined disgorgement, prejudgment interest, and civil penalties [...]
The Securities and Exchange Commission (SEC) has charged crypto asset trading platform Beaxy.com and its executives for failing to register as a national securities exchange, broker, and clearing agency. Beaxy's founder, Artak Hamazaspyan, and his company, Beaxy Digital, Ltd., were also charged with raising $8 million in an unregistered offering of the Beaxy token (BXY) [...]
The Securities and Exchange Commission has accused former broker Surage Kamal Roshan Perera and his company, Janues Capital Incorporated, of deceiving an investor and fraudulently taking millions of dollars by misrepresenting investment opportunities and strategies, covering up trading losses, and using money from other sources to make false payments to the victim. The SEC has [...]
INVESTORS: Arete Wealth Management broker Avi Bailo was named in customer disputes alleging unsuitable investment recommendations. Avi Bailo (CRD: 6165479) is registered as a broker and investment adviser with Arete Wealth Management where he’s been employed since 2013. Bailo has four disclosures on his BrokerCheck report. January 2023 Customer Dispute Status: Pending Allegations: Client alleges [...]
A former investment adviser at a large financial institution, Darryl Matthew Cohen, has been charged by the Securities and Exchange Commission (SEC) for misappropriating more than $1 million from three current and former NBA players over a period of two and a half years. The SEC's complaint alleges that Cohen used client funds for personal [...]
The Securities and Exchange Commission (SEC) has charged Scott Hollender, Gabriel Migliano Jr., and Frank Vecchio for illegally selling interests in shares of pre-IPO companies on behalf of StraightPath Venture Partners LLC without being registered as broker-dealers. The three defendants are also accused of misleading investors about the fees involved in these investments. Previously, the [...]
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