Auction Rate Securities Still Frozen February 9, 2024 Levin Papantonio is investigating claims against broker-dealers who recommended auction rate securities to investors as an alternative to “cash equivalents.” In fact, almost $330 billion of auction rate securities and other similar investments were recommended to investors as a place to hold cash for those who had short-term time horizons. Of course, these investors were […] Read More
Principal Protected Notes February 9, 2024 We are currently accepting cases on behalf of institutional investors who entered into complex, “soft dollar,” fee arrangements with major Wall Street broker dealers. The Securities and Exchange Commission (SEC) recently charged Merrill Lynch and former Merrill Lynch advisers Michael Callaway and Jeffrey Swanson with securities laws violations. The misconduct stems from relationships between Merrill’s […] Read More
First Trust February 9, 2024 Levin Papantonio is currently accepting cases concerning the First Trust family of Strategic High Income mutual funds (“First Trust”). The First Trust mutual funds, the Strategic High Income Fund (FHI), the Strategic High Income Fund II (FHY), and the Strategic High Income Fund III (FHO), held some of the riskiest and most illiquid collateralized debt obligations […] Read More
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