Straight Talk

The purpose of this blog is to provide education and news that will help clients through the litigation process.

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Tim Duncan, San Antonio Spurs 15-time All Star, recently sued his adviser in Texas state court, claiming he was pushed into investments despite conflicts of interest that ultimately caused him substantial losses. In his complaint filed in San Antonio, Duncan claims that his Atlanta-based financial adviser, Charlie Banks, hid his own interest in investment opportunities [...] Read More
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TIAA-CREF, New York City Retirement Systems (NYCRS) and other investors recently filed complaints in the U.S. District Court in New York against American Realty Capital Properties (ARCP), a real estate investment trust. Deceiving the market The suit alleges that ARCP violated securities law by misrepresenting the company's business and prospects, deceiving the market and artificially [...] Read More
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If President Obama gets his way, your retirement savings could grow even more each year. In a recent speech to AARP supporters in Washington, Obama said he is asking the Labor Department to write new rules that could save investors as much as $17 billion dollars a year by requiring financial advisers to put their [...] Read More
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As an investor, you might not be getting what you pay for regarding financial planning. A recently released study attributes this to the lack of government-enforced professional standards. According to research conducted on behalf of the Financial Planning Coalition, clients could not identify Certified Financial Planners from other advisers. When they worked with someone who [...] Read More
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The Securities and Exchange Commission (SEC) recently fined 13 financial firms for selling risky Puerto Rican bonds to retail clients beneath the minimum allotment of $100,000 for a single transaction. To shut out small investors and protect those who may not be able to withstand large losses on risky offerings, the SEC mandates that municipal [...] Read More
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Indiana Pork is committed to supporting the over 3,000 Indiana pork farmers and their families. Each year they host a meeting to provide updates on the industry, elect new board members, recognize members and share important information that affects pork farmers in Indiana and nationwide. This year, the meeting will be held on Tuesday, February [...] Read More
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A widely accepted reality of the financial industry is that management typically turns a blind eye to potential indiscretions of star brokers -- the top 1 percent. This is to avoid antagonizing the agents who bring in humungous amounts of money in fees and commissions. But big producers are now facing tough questions from regulators [...] Read More
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Examiners with the Securities and Exchange Commission (SEC) are poring over much more data from advisory firms, and are able to use predictive analytics to identify warning signs of a likely violation. This was the essence of a speech given by John Walsh, a partner with Sutherland, Asbill & Brennan, at a recent Schwab Impact [...] Read More
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Former Ameriprise Financial Inc. adviser Susan Walker recently pleaded guilty to defrauding 24 clients of $980,000. Walker used the money to pay for personal expenses, including vacations and private school tuition. The U.S. Attorney's Office for the District of Minnesota reported that the alleged incidents occurred between 2008 and 2013. According to the complaint filed [...] Read More
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The following article was recently published in the November issue of “Top Producer” magazine: Develop a Succession Plan Toolbox A comprehensive succession plan gives your farm the best chance of surviving for future generations, notes Polly Dobbs, an attorney at Starr Austen and Miller in Logansport, Ind. There isn’t a cookie-cutter approach to estate planning, [...] Read More