Articles Tagged with Wells Notice

Stoltmann Law Offices is investigating Joseph Michael Araiz, former Chief Executive Officer of formerly named Ecapitalist Financial Services, now named Further Lane Securities. In February 2008, Araiz became Further Lane’s Chief Compliance Officer in addition to being its CEO. Araiz received a Wells Notice on March 17, 2014, stating that it was recommending enforcement action against Araiz for failing to disclose material facts to underwriters of certain corporate bonds in connection with an investment adviser’s purchase of those bonds in secondary offerings between 2009 and 2012. Araiz allegedly violated securities laws which included acting as an adviser to an investment fund and causing the fund to acquire a promissory note from an entity owned by Araiz without disclosing to investors that the fund might acquire related-party promissory notes or that it might otherwise materially deviate from its fund-of-funds investment strategy. It also alleged that he caused the fund to invest in a second promissory note with an unaffiliated entity without written disclosure to the investors. He was suspended for this from November 11 2013, through November 10, 2014. He was terminated from the firm by the Securities and Exchange Commission (SEC) on November 14, 2013.

Araiz was registered with Cowen & Co., Gruntal & Co., MJ Whitman & Co., Ladenburg, Thalmann & Co., Imperial Capital LLC, The Concord Equity Group and Further Lane Securities in New York, New York from March 2002 until November 2013. He has one customer dispute against him and two regulatory matters, one of which is currently pending. He is not licensed within the industry, according to his online Financial Industry Regulatory Authority (FINRA) public BrokerCheck report. If you feel like you may have a claim against Mr. Araiz, please call our securities law firm today to speak to an attorney for free. We may be able to help you recover your investment losses. 312-332-4200.

Stoltmann Law Offices is investigating Andrew Ahrens, a former LPL financial advisor currently with Ahrens Investment Partners in Lafayette, Louisiana. Ahrens was sent a Wells Notice, which is a letter that the U.S. Securities and Exchange Commission (SEC) sends to people or firms when it is planning to bring an enforcement action against them. This comes after the Financial Industry Regulatory Authority (FINRA) began an investigation into whether consolidated reports he provided to his clients “contained information that was incorrect.” His clients who requested the consolidated reports were told that Ahrens provided limited additional information meant to complement, not replace, the required reporting from LPL. Ahrens was fired from the firm in August, the same month the Wells Notice was issued. He had been with LPL since 1998. According to his BrokerCheck report on FINRA’s website, Ahrens claims against him include unsuitable investments in real estate investment trusts (REITs) breach of contract, breach of fiduciary duty, negligence, misrepresentation, failure to supervise and violation of certain state and federal statutes with respect to REIT investments.

Ahrens (whose full name is Garrett A. Ahrens) was registered with Edward Jones in St. Louis, Missouri from October 1989 until September 1996, Balentine & Company in Atlanta, Georgia from September 1996 until June 1998, and LPL Financial in Lafayette, Louisiana from June 1998 until August 2015. He has eight customer disputes filed against him. If you invested money with Andrew Ahrens and LPL Financial, please call our securities law offices based in Chicago, Illinois to speak with an attorney. Our number is 312-332-4200. The call is free with no obligation. Ahrens’ former firm, LPL Financial, may be liable for your investment losses because they had a duty to properly supervise him while he was employed with them. Because they did not, they can be sued in the FINRA arbitration forum to recover financial losses suffered with Andrew Ahrens.

The U.S. Securities and Exchange Commission (SEC) delivered a Wells Notice to Pacific Investment Management Co. concerning its sales of the Pimco Total Return exchange traded fund (ETF). The Wells Notice is an indication to recommend that the SEC commence a civil action against the company. Pimco allegedly artificially boosted the returns of the Pimco Total Return ETF. The SEC is looking in to the valuation of smaller-sized positions in non-agency mortgage-backed securities that the ETF purchased between its inception and June 30, 2012, as well as Pimco’s compliance policies and procedures.

If you invested money in the Pimco Total Return ETF fund, please call our securities law firm at 312-332-4200 to speak with one of our attorneys. The call is free with no obligation. We may be able to help you recover your investment losses in the Financial Industry Regulatory Authority (FINRA) arbitration forum.

The Financial Industry Regulatory Authority (FINRA) gave Richard Martin a Wells Notice on March 25, 2015, indicating that he will be subject to a FINRA investigation regarding the sale of leveraged Exchange Traded Funds (ETFs). Martin resigned from GF Investment Services on July 7, 2015. Mr. Martin allegedly made unsuitable trades in exchange traded funds in 2015, sold unsuitable investments in ETFs in 2014, and made unsuitable short sales that were unsuitable for the customer’s risk tolerance in 2012.

Richard Martin was registered with Smith, Barney, Harris Upham & Co, Refco Securities, Morgan Stanley, Global Strategic Investments, Latam Investments, and G.F. Investment Services in Penang, Malaysia. He is not currently registered with any member firm. He has 11 customer disputes against him, two of which are currently pending. If you lost money with Richard Martin of GF Investment Services, GF can be sued in the FINRA arbitration forum to recover your financial losses. Please call us at 312-332-4200 for a free consultation with an attorney.

F-Squared Investments filed for Chapter 11 bankruptcy on Wednesday. This comes after an agreement F-Squared made in December to pay $35 million to settle charges it made false claims about the performance of a flagship investments product. The company ran into trouble before 2008 in regards to its AlphaSector strategy, when they launched the product, claiming its strategy could temper and withstand violent market swings, by trading out of exchange-traded funds (ETFs). Then the assets fell when the firm saw almost $8 billion in asset declines as of March 31st. Virtus Investment Partners, its mutual fund distributor, cut F-Squared as well.

In 2014, F-Squared was given a Wells Notice after an investigation into how the company advertised the performance of its stock from the year earlier. F-Squared claimed to use proprietary models to represent how their stock would do based on past performance, when, in reality, the models were never tested. If you invested money with F-Squared, please call us at 312-332-4200 to speak to an attorney about your options of recovering money through FINRA arbitration.

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