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Posts tagged "securities fraud"

SEC: Futuristic Bitcoins Stolen in an Old-Fashioned Scam

In an ongoing lawsuit by the Securities and Exchange Commission (SEC) against a Texas man it has accused of defrauding investors in a Ponzi scheme involving the popular "virtual currency" Bitcoin, Federal Magistrate Judge Amos Mazzant of the Eastern District of Texas re-affirmed in August his earlier denial of the defendants' motion to dismiss. In his ruling, Judgef Mazzant held that Bitcoin is "money" and that contracts involving the investment of Bitcoin rather than traditional currency are nonetheless subject to federal securities law. In an ironic twist, the ruling lends credibility to Bitcoin as a currency while simultaneously allowing the government to proceed in a case highlighting Bitcoin's risks and to potentially subject it to closer regulation-certainly an uncomfortable situation for a currency whose entire point is to serve as an alternative to government-sponsored legal tender.

Marijuana Investment Scammers Look to Bogart Your Money

Obligatory pun aside, this post deals with a serious issue for many retail investors-scam artists who use hot news items to cheat you out of your money. On August 20, 2013, the Financial Industry Regulatory Authority (FINRA) published an Investor Alert warning of potential scams involving marijuana-related stocks. In today's economic environment, and particularly after so many Americans saw their retirement savings evaporate in 2008, an investment tip promising big returns in a hot new business can be very tempting.

Merck & Co Agree to Pay $688 Million to Settle Class-Action Lawsuits

According to Reuters, Merck & Co have agreed to pay $688 million to settle two U.S. class-action lawsuits brought by shareholders who say they lost money because the company concealed the poor results of a clinical trial of the anti-cholesterol drug Vytorin.

  • $50+ Million Personal Injury Fire and Explosion

    The firm successfully represented nearly 100 victims who suffered personal injuries and damages to property from a large fire and explosion resulting in a settlement of more than $50 million. The firm served as lead lawyers on the steering committee in this litigation.

  • $80 Million Personal Injury Large Plant Explosion

    The firm successfully represented 270 plaintiffs, taking a lead role in the plaintiffs’ steering committee, who suffered injuries in a large plant explosion resulting in a settlement of nearly $80 million.

  • $50+ Million Personal Injury Plant Fire and Explosion

    The firm successfully represented 45 personal injury victims in a plant fire and explosion, serving on the plaintiffs steering committee, concluding with a settlement of more than $50 million.

  • $22+ Million Personal Injury Work Site Accident

    The firm prevailed in a personal injury trial for a worksite injury client with the jury returning a verdict and resulting in a judgment of over $22 million for the firm’s client.

  • $12 Million Auto Accident 18-Wheeler Collision

    The firm successfully achieved a $12 million settlement for the family of a man who died in an 18 wheeler collision.

  • $30 Million Personal Injury Burn Victims

    The firm prevailed on behalf of three burn victims with settlements totaling nearly $30 million.

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