Articles Posted in Lawsuit

In the past year, proposed legislation requiring vaccines for all children has skyrocketed. As of February 2019, over 100 bills were proposed across 30 states to amend vaccine requirements and rights. Through these bills, state and federal government seek to eliminate religious and philosophical exemptions, and limit medical exemptions.

On a Federal level, Representative Frederica Wilson (Democrat) of Florida’s 24th Congressional District introduced H.R. 2527 “Vaccinate All Children Act of 2019” on May 3, 2019. This bill proposes to “amend the Public Health Service Act to condition receipt by States (and political subdivisions and public entities of States) of preventive health services grants on the establishment of a State requirement for students in public elementary and secondary schools to be vaccinated in accordance with the recommendations of the Advisory Committee on Immunization Practices, and for other purposes.” This act does not provide for any religious or philosophical vaccines exemptions. A child with a medical exemption must provide written certification annually, in which the physician must “demonstrat[e] (to the satisfaction of the individual in charge of the health program at the student’s school) that the physician’s opinion conforms to the accepted standard of medical care.” There is no further explanation provided as to what constitutes a medical exemption the in the bill.

The conditions in a recipient that may warrant a medical exemption are referred to as “contraindications”. The CDC also recognizes “precautions” that should be taken and result in the delay of some vaccines. Unfortunately, these contraindications and precautions are often viewed as “temporary”, or are only present after an individual or immediate relative has already had an adverse reaction to a vaccine. For example, the CDC does not recommend vaccinating children with the MMR vaccine to “severely immunocompromised persons”. In another example, only after a child has suffered encephalopathy (i.e. brain injury) after receiving a pertussis vaccine does the CDC advise against the child receiving another dose of the vaccine. In many cases, for these children the damage is already done. It is common for children to experience less severe symptoms, such as fevers, from the first dose of vaccine, only to be forced to receive additional doses. The compounding affect can cause more severe injuries, immune deficiency disorders, and irreversible damage. This is why medical exemptions are often insufficient to protect children.

The National Vaccine Injury Compensation Program (“VICP” aka “Vaccine Court”) is a streamlined litigation program run through the U.S. Court of Federal Claims to award compensation to individuals injured by vaccines. In order to receive compensation through this Program, you or your loved one must meet the criteria discussed supra. However, do not let this criteria alarm or confuse you. We are here to provide you with a free evaluation, so please contact our office to help you navigate the VICP. Importantly, you need to contact an attorney sooner rather than later for your evaluation, as there are strict statute of limitations periods for filing a case.

The VICP Criteria

The VICP created the “Vaccine Injury Table”  to evaluate injury petitions. The table below lists the following criteria needed for a claim under the VICP: 1) the vaccine received; 2) the injury suffered; and 3) the time period during which the first symptom occurred.

If you invested money with Robert Walberg, Stoltmann Law Offices may be able to help you recover your money. On January 24, 2019, the Illinois Securities Department issued a Temporary Order of Prohibition against Robert C. Walberg, Chartwell Strategies LP, and Chartwell Advisory Group LLC. Chartwell Strategies LP is a hedge fund created and sold by Robert C. Walberg and his company, Chartwell Advisory Group LLC. According to the Illinois Securities Department, Mr. Walberg solicited an Illinois resident at the end of 2017 and early 2018 to invest in Chartwell Strategies LP. Mr. Walberg allegedly commingled his client’s funds with his personal assets. Mr. Walberg also solicited investors outside of Illinois, including Pennsylvania, and relied on other financial professionals, like accountants, to refer investors to him and Chartwell. Over $2 million has been invested in Chartwell Strategies. In the Order, the Illinois Securities Department found that Mr. Walberg violated Section 12.F and 12.I of the Illinois Securities Law, which prohibit the fraudulent sale of securities to Illinois residents. Walberg and Chartwell are still under investigation and the Illinois Securities Department has reached out to investors to notify them of these scheme.

Mr. Walberg was a registered FINRA broker on and off from 1984 through 2013, but he has not been registered with the SEC or FINRA since November 2013. Some of the firms with who was registered include T3 Trading Group LLC, Waddell & Reed, Inc., Capstone Investments, E.F. Hutton & Co., and Francis Manzo & Co., Inc.

Chartwell Strategies was registered with the Securities and Exchange Commission as a Regulation D offering on August 10, 2015. According to Form D, Mr. Walberg and Chartwell operate out of Rolling Meadows, Illinois and Mr. Walberg is the Executive Officer and Promoter of Chartwell Strategies L.P. The minimum investment is $25,000 and Mr. Walberg receives a 1% annual management fee of the total assets under management. A Regulation D private placement allows a company to raise capital without registering with the SEC, other than filing a Form D. However, given that Mr. Walberg has not been registered to sell securities since 2013, he was not allowed to sell the Chartwell hedge fund to anyone, and violated the Illinois Securities Law by doing so.

AdobeStock_78306447-1-300x199Stoltmann Law Offices continues to investigate Anthony Diaz, a broker with IBN Financial Services in Pennsylvania. Diaz allegedly began over-concentrating a client’s irreplaceable retirement assets into high-risk, commission-laden private placements, real estate investment trusts (REITs), and other illiquid, alternative investments. The customer was looking to generate income, while protecting his principal. He agreed to move his assets to IBN with the understanding that he was looking for stable investments. REITs, private placements and other alternative investments that Diaz recommended and sold to him, did not align with the customer’s wishes, and Diaz, as his financial advisor, had a duty to only recommend and sell to him those investments that were suitable for him, based on his age, net worth, investment objectives and investment sophistication and risk tolerance levels.
In November 2012, Diaz solicited the customer to purchase $350,000 worth of Bakken Drilling Fund III, which is now defunct. It is an oil, gas and energy stock, and these tend to be highly risky and illiquid investments. The fund filed for bankruptcy in October 2016, after raising over $20 million from 309 investors. This is according to a filing with the Securities and Exchange Commission (SEC). He also put him into Ameritech College Holdings for $95,000, ARC NY REIT, and ICAP Pacific Northwest Opportunity Fund.
According to publicly available records with FINRA online, Anthony Diaz has been permanently barred from the securities industry, and has 56 disclosures on his CRD report. 44 of these are customer complaints against him. He was registered with IBN Financial Services in Scotrun, Pennsylvania from September 2012 until April 2015. IBN can be liable for losses if you lost money because of Anthony Diaz.

AdobeStock_77502568-1-300x199Former UBS broker John MacColl was charged with defrauding more than 15 retail investors in a $4 million scheme. He used high-pressure sales tactics that targeted mostly elderly retirees, according to a complaint filed with the Securities and Exchange Commission (SEC) in federal court in Michigan. He persuaded clients to invest in a “highly-sought-after” private fund that would diversify their portfolios and provide investment returns as high as 20%, exceeding the returns they would receive with investments at UBS. Between 2008 and 2018, MacColl told investors to sell or take a line of credit out against the securities in their accounts and to deposit the money into their personal bank accounts, according to the complaint. He then told them to make checks payable to “Mac 011” or “Mac01”. He then added his name to the payee line and deposited the checks into his own account. Other criminal charges were filed in a federal court in Michigan this week. One victim invested her life savings and money from her deceased husband’s life insurance payout, which she was going to use to pay for college for her three children. MacCall spent the money on personal expenses, and about $410,000 was used to pay back other investors in a ponzi-scheme fashion.

AdobeStock_66548440-1-300x169The Financial Industry Regulatory Authority (FINRA) has barred former Comprehensive Asset Management broker Pamela Shuttleworth, from the securities industry. Ms. Shuttleworth had violated securities laws and internal firm rules. Ms. Shuttleworth failed to respond to a FINRA investigation against her, which resulted in her automatic bar. FINRA was investigating her regarding allegations that she was the supervisor responsible for monitoring the emails of a former representative of her brokerage firm, Comprehensive Asset Management. Pamela Shuttleworth was a registered representative of Comprehensive Asset Management and Servicing from December 2014 until June 2017. She worked in the Parsippany, New Jersey branch. Comprehensive may be liable for losses in the FINRA arbitration forum because the firm had a duty to reasonably supervise Shuttleworth while she was employed there. We take cases on a contingency fee basis only.

AdobeStock_112465076-1-300x164Stoltmann Law Offices continues to investigate National Securities Corp broker Jonathan Aschoff and his recommendations of the following Biotech securities:

Avenue Therapeutics Inc (ATXI.O);

Checkpoint Therapeutics Inc (CKPT.O); and

AdobeStock_82110313-1-300x125According to a recent Letter of Acceptance, Waiver and Consent (AWC) with the Financial Industry Regulatory Authority (FINRA), former Robert W. Baird broker Patrick Phillips has violated securities laws. Mr. Phillips allegedly accepted two loans from a firm customer totaling $70,000. He also used a personal email account for business purposes in contravention of policies. This prevented CGMI from discovering emails related to the customer loan. For this misconduct, he was fined $10,000 and suspended from the industry for five months.
Patrick Jermaine Phillips, according to online records, is not currently registered as a broker, and has been suspended from the securities industry. He has one customer dispute against him, alleging the taking of a loan from a firm customer, and one regulatory matter against him. He was previously registered with MSI Financial Services in Chicago, Illinois from October 2016 until December 2016, Citigroup Global Markets in Orland Park, Illinois from August 2013 until July 2016, Ameriprise Financial Services in Chicago from August 2010 until August 2013, and Robert W. Baird in Chicago from December 2006 until August 2010. Robert W. Baird may be liable for Phillips losses on a contingency fee basis in the arbitration forum. The firm had a duty to reasonably supervise its brokers.

AdobeStock_200379710-300x200Stoltmann Law Offices continues to investigate Healthcare Trust REIT, a non-traded real estate investment trust (REIT), that seeks to acquire a diversified portfolio of real estate properties focusing primarily on healthcare-related assets including medical office buildings, seniors housing, and other healthcare-related facilities. This is according to the company’s website. Recent news suggests that Healthcare Trust may be in further decline, and that investors may have lost money in the REIT. REITs are not suitable for all investors. They tend to be highly illiquid and risky investments, and a broker must take into account a customer’s age, net worth, investment objectives and investment risk tolerance, among other factors before recommending or selling any investment. If he does not, his brokerage firm may be liable for losses on a contingency fee basis, because the firm has a duty to reasonably supervise its representatives in order to make sure they do not violate securities laws or internal firm rules. You may have options if your broker recommended or sold you Healthcare Trust REIT investments. We take cases on a contingency fee basis only.

AdobeStock_194438920-300x200Former LPL broker Sanders Spangler was barred from the securities industry by the Financial Industry Regulatory Authority (FINRA). LPL terminated him for executing unauthorized trades in non-discretionary customer accounts in February 2017. In March 2018, FINRA barred him due to his failure to appear for an on-the-record testimony. Failure to appear for this results in an automatic bar from the industry. In March 2018, Spangler’s ex-wife alleged that he was forging her account documents. This dispute is currently pending. In October 2017, according to Spangler’s FINRA BrokerCheck report within the industry, available online, a customer alleged that he was over-concentrating the customer’s investments in risky energy stocks. He also alleged that Spangler liquidated his account without permission from the customer. This dispute is also currently pending. In June 2017, a customer alleged that Sanders Spangler instigated unsuitable, unauthorized trades in a non-discretionary customer account without the customer’s knowledge or permission. These are all against securities laws and internal firm rules.
Advisors must have the full consent and written approval of the customer before placing any trades. Unauthorized trading occurs when a broker sells a security without the proper written consent needed from the investor. An advisor must also take into account a customer’s age, net worth, investment objectives and investment risk tolerance, among other things when recommending and selling an investment. If he does not, his brokerage firm may be liable for losses. Energy investments, such as the ones Spangler sold to at least one customer, tend to be highly illiquid, unsuitable investments. If investors lose money because of a broker’s recommendation or sale, the brokerage firm may be liable for losses on a contingency fee basis in the FINRA arbitration forum, because the firm has a duty to reasonably supervise its employees while they are registered there.
Sanders Spangler, according to his online, FINRA BrokerCheck report, was previously registered with Edward Jones in St. Louis, Missouri from July 2000 until October 2005 and LPL in San Antonio, Texas from October 2005 until March 2017. He has six customer disputes against him, one of which is currently pending. They allege suspected forgery, over-concentration in energy stocks, account liquidation without client knowledge, unsuitable investments, unauthorized trading, poor performance, and discretion. He has one regulatory matter against him. He has been permanently barred from the securities industry.

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