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Securities Fraud

Call The SEC About Suspected Financial Fraud

You may have seen the recent public service announcements with Michael Douglas, channeling his famous role from the movie Wall Street, where he played Gordon Gekko, encouraging anyone knowing about insider trading, or other suspected financial fraud, to report this crime to the FBI. If not, here’s the public service announcement. While we encourage anyone knowing of insider trading or other financial fraud to contact authorities to share what you know about these crimes, it most likely is not in your financial best interest to share your tips, as a whistleblower, with the FBI. That is because when you become a whistleblower...

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Court Sends Message That Form Doesn’t Trump Substance

One of the things that aggravate many people is that high priced corporate lawyers seem to find legal loopholes in almost any regulation designed to protect the public or investors. Then, they use these loopholes to make it appear they are following the rules, but it is only in form, not in substance. We, as securities fraud attorneys, understand that aggravation. However, a recent case in Delaware, the home of many corporations, appears to be saying enough to to these legal shenanigans, if the recent case of In re Southern Peru Copper Corporation Shareholder Derivative Litigation is any indication. In that case...

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Regulations for Distracted Truck Drivers

A distracted driver is always dangerous on the road, but that is especially true when the person is driving a large and heavy vehicle, such as an over-the-road truck and trailer. These types of vehicles, because of their large size, are inherently dangerous machines to operate, both for the driver and for those on the road with the vehicle. One of the most common distractions these days for all drivers is talking on a cell phone, or even texting while driving. Statistics show that distracted driving can cause injuries, and even fatalities, either for the person distracted, or for someone else...

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Starr Austen & Miller Investigates Facebook IPO And Potential Securities Fraud


Mario Massillamany  announced today that the firm is investigating the recent Facebook IPO and any possible securities fraud that occurred before, during and/or after the process. Mario Massillamany said “If someone acquired or purchased shares of Facebook common stock (FB) during the Facebook IPO on May 18, 2012, or soon thereafter, we advise they contact a securities fraud attorney to help determine their rights to recovery.” According to the Wall Street Journal, the $16 billion IPO stock’s initial public offering on May 18th was at $38 per share. Before the IPO occurred on May 9th, during the investor roadshow, Facebook filed...

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Serious truck safety violations found in northwest Indiana survey

A six-year study by Indiana State Police inspectors of truck traffic through northwestern Indiana Lake and Porter counties found that one in four heavy trucks had serious safety violations, most notably faulty brakes and driver fatigue. An article in The Northwest Indiana Times of Jan. 8, 2012, noted that such violations were serious enough to remove trucks from service and risked the lives of both travelers and truck drivers. Much of the data was collected through random checks at truck weigh stations from 2003 to 2008 and “only scratch the surface of the safety problem,” said Scott Fleming, supervisor of the...

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Excavator pins and kills construction worker David Anderson at work site

INDIANAPOLIS — An excavator weighing an estimated 20 tons backed into and killed a construction worker at 9:30 a.m. Monday morning while placing concrete barriers in a construction zone at I-465 and Allisonville Road. David Anderson, 33, of Brownsburg, Ind., was one of two workers assisting the excavator driver in placing the barriers when the excavator backed into him and pinned him against a barrier. Anderson died at the scene. "It was just an unfortunate accident," said Ray Poole of the Indiana State Police. No criminal charges are expected, but the Indiana State Police will be reconstructing the accident. No weather or...

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How is the Internet used to defraud investors?

Internet sites such as Facebook, Twitter, YouTube, Linked-In and the like have become prime sources for finding and sharing information for investors, who can research stocks, check out financial advisors and brokers, get the latest investor news, develop investment strategy or communicate with other investors and advisors. However, the Internet has also become a useful tool for investment fraud, with online perpetrators becoming increasingly good at looking like a legitimate presence with fraudulent websites, email and other communications. Some examples: Unsolicited offers — check that chat! Social media sites, including chat rooms and bulletin boards, are key places for fraudsters to find victims....

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Self-Directed IRA Fraud May Be On The Rise In Indiana

Many people saving for retirement have socked their money in IRAs, which are a type of retirement account with tax advantages. However, there is now a new breed of IRA on the block, called the self-directed IRA, and although it is perfectly legal it has been used for fraudulent purposes by schemers and fraudsters recently, across the country, including in the State of Indiana. Self-directed IRAs are similar, in many ways, to regular IRAs. However, the key difference is that the types of investments you can hold in a self-directed IRA are much broader than in a traditional one. This broad...

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The Importance of Evidence in the “Black Box” For Truck Accident Litigation

Often in truck accidents there is a lot of conflicting testimony between the truck driver’s version of events and that of the injured person regarding such important issues as speed, acceleration and braking. Some of this conflict may come from a bias of protecting one’s own interests, but in addition these accidents often happen so quickly, and so many things happen in quick succession that it can be difficult to accurately remember or even notice all relevant pieces of information. That is where a heavy truck’s Event Data Recorder (known in the industry as an “EDR”), and often commonly referred to...

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Will The Dodd-Frank Wall Street Reform Act Make FINRA Arbitration Obsolete?

The Dodd-Frank Wall Street Reform Act shows a congressional dislike for mandatory arbitration provisions, to say the least. This Act, which was signed into law on July 21, 2010, by President Barack Obama, contains many provisions which could lead, after study, to the prohibition or limitation on these boilerplate clauses in consumer contracts. This includes arbitration provisions in client agreements with broker dealers that cause many securities fraud causes of action to be arbitrated at FINRA at this time. Widespread Prevalence of These Arbitration Clauses Statistically, just about everyone in the United States has knowingly, or unknowingly, agreed to a boilerplate mandatory...

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