» Securities Law

New York, NY (Law Firm Newswire) February 04, 2016 – Zamansky LLC announces that it is investigating the Ivy Asset Strategy Fund and the Waddell and Reed Asset Strategy Fund for potential breaches of fiduciary duties to shareholders. The Ivy Asset Strategy Fund and the Waddell & Reed Asset Strategy Fund are total return mutual funds registered under the Investment Company Act of 1940. Both funds are managed by subsidiaries of Waddell & Reed Financial Inc., a public company with over $71 billion under management. The Funds’ symbols are Ivy Asset Strategy: WASAX, WASBX and WASCX; and Waddell & Reed […]


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New York, NY (Law Firm Newswire) January 19, 2016 – Zamansky LLC announces that it is investigating the Waddell and Reed’s Ivy High Income Fund for excessive risk and lack of disclosure. The Ivy High Income Fund is a high yield debt mutual fund that is registered under the Investment Company Act of 1940. It is managed by a subsidiary of Waddell & Reed Financial Inc., a public company with over $71 billion under management, and has retail and institutional share classes (Fund symbols: WHIAX, WHIBX and WRHIX). On December 15, 2015, Bloomberg News reported that Waddell & Reed Financial […]


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New York, NY (Law Firm Newswire) January 19, 2016 – Zamansky LLC announces that it is investigating various high yield bond funds listed below for potential securities law suitability violations. Since 2009, many investors, particularly retirees or those seeking income, have invested in high yield bond and income mutual funds on the advice of their broker or financial advisor. These high yield funds were sold as secure, high quality income-generating investments that had modest risk. In truth, high yield bond and income mutual funds can be high risk and speculative due to their concentration in unrated or below investment grade-rated […]


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New York, New York: Zamansky LLC announces that it is investigating the Third Avenue Focused Credit Institutional Fund (TFCIX) and Investor Fund (TFCVX) for potential securities fraud violations. The Third Avenue Focused Credit Fund is a high yield and distressed debt mutual fund that is registered under the Investment Company Act of 1940. It is managed by Third Avenue Management LLC, headquartered in New York, New York, and has both retail and institutional share classes. On December 9, 2015, shareholders in the Third Avenue Focused Credit Fund received a letter notifying them that the Board of Trustees had decided to […]


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New York, New York (Law Firm Newswire) December 11, 2015 – Zamansky LLC announces that it is investigating investor losses from oil, gas and energy stocks, master limited partnerships (“MLPs”) and funds, including those listed below. Over the last year, these investments have fallen 50% and more, and many are cutting their distributions to investors so that they are no longer high-yield, income investments. Many income-seeking investors, particularly retirees, were advised by their brokers and financial advisors to invest in these stocks and funds because there were supposedly safe and secure income-generating investments, similar to bonds, with modest risk. Many […]


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New York, NY (Law Firm Newswire) September 29, 2015 – Zamansky LLC announces it is investigating asset-backed securities bonds that may have suffered losses due to the Volkswagen (OTC: VLKAY) emissions scandal. In particular, the investigation concerns bonds backed by car dealer inventories, known as dealer floorplan ABS such VWMT 2014-1. Car dealers who were told to immediately halt sales of popular 2015 and 2016 models, including Volkswagen’s Jetta and Beetle convertible due to emissions irregularities, may have products that cannot be sold. The full damage of the emissions scandal may not be clear to bondholders for a long time. […]


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New York, NY (Law Firm Newswire) April 2, 2015 – Zamansky LLC announces that it is investigating the BlackGold Opportunity Fund LLC and BlackGold Opportunity Offshore Fund LLC (the “BlackGold Funds”), over large losses reported to investors. The BlackGold Funds are the $2 billion hedge funds managed by KKR-owned BlackGold Capital Management, Inc. The investigation concerns the April 2, 2015, report by Bloomberg News that auditors increased the losses reported to BlackGold Funds investors from 6% to 17%. The increase was the result of differences in the valuation of energy bonds held by the BlackGold Funds. These losses came weeks […]


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New York, NY (Law Firm Newswire) April 2, 2015 – Zamansky LLC announces that it is investigating Lynn Tilton’s “Zohar” Loan Funds, the collateralized loan funds managed under the names Patriarch Partners, LLC, Patriarch Partners XIII, LLC, Patriarch Partners XIV LLC and Patriarch Partners XV, LLC (“Zohar Funds”). The investigation concerns the allegations against investment advisor Lynn Tilton and the Zohar Funds made by the U.S. Securities and Exchange Commission (“SEC”). On March 25, 2015, the SEC filed an Administrative Proceeding alleging that Tilton issued misleading values of the Zohar Fund’s CLO holdings to inflate management fees charged to the […]


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New York, NY (Law Firm Newswire) February 20, 2015 – Notice is hereby given a class action lawsuit has been filed today, February 20, 2015, in the United States District Court, Southern District of New York by an investor individually and on behalf of all other investors who purchased or otherwise acquired common stock of Virtus Investment Partners Inc. (NASDAQ: VRTS) (“Virtus”) between May 28, 2013 and December 22, 2014 (the “Class Period”). The Class Action Complaint alleges that Virtus and certain of its officers and/or directors violated sections 10(b) and 20(a) of the Securities Exchange Act of 1934. Virtus […]


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New York, NY (Law Firm Newswire) June 19, 2014 – Zamansky LLC announces that it is investigating Papa Murphy’s Holdings Inc. (NasdaqGS: FRSH) (“Papa Murphy’s) over its disclosures to investors. Papa Murphy’s which is based in Vancouver, Washington owns, operates, and franchises Take ‘N’ Bake pizza stores. These are stores where customers purchase assembled pizzas to bake and serve at home. On June 9, 2014 Seeking Alpha published an article forecasting imminent declines in Papa Murphy’s EBITDA and a possible 80% decline in stock price, due to a request by franchisees for a moratorium on fees. The article reports that […]


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New York, NY (Law Firm Newswire) June 15, 2014 – Zamansky LLC has filed a FINRA arbitration on behalf of an elderly investor against Oppenheimer & Co. Inc. (“Oppenheimer”) who claims that her accounts were churned by her financial advisor. The case is FINRA TN 1400862. The Statement of Claim in the arbitration alleges that the claimant, who is an 85 year-old investor, had her and her late husband’s accounts churned and excessively traded by their financial advisor at Oppenheimer. Although they needed to preserve their money, the Statement of Claim alleges that the Oppenheimer financial advisor concentrated their accounts […]


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New York, NY (Law Firm Newswire) June 11, 2014 – Zamansky LLC announces that it is investigating independent broker-dealer firms for churning, unsuitable investments and other sales practice violations. According to Jacob Zamansky, stock fraud attorney for over 25 years, as the stock market has reached new highs, financial advisors have been under pressure to keep up. Our firm has seen incidents of churning by financial advisors and sales of riskier and more speculative investments than investors want, Zamansky states. Zamansky states that financial advisors at the smaller, independent brokerage firms may be in a position of trust where they […]


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New York, NY (Law Firm Newswire) June 9, 2014 – Zamansky LLC announces that it is investigating Higher One Holdings Inc. (NYSE: ONE) for a possible shareholder derivative action. Higher One provides technology and payment service to the higher education industry and is based in New Haven, CT and incorporated in Delaware. The investigation concerns allegations of breaches of duties owed to shareholders by the officers and directors. On May 12, 2014, Higher One disclosed in its quarterly financial statement filing with the SEC that it is facing penalties from the Federal Reserve over alleged violations tied to its marketing […]


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New York, NY (Law Firm Newswire) June 5, 2014 – Zamansky LLC announces that its investigation of the Campbell Strategic Allocation Fund, Campbell Global Trend Fund and other managed futures funds (“Campbell Funds”) in continuing. The Campbell Funds were sold to brokerage customers of the following firms which acted as selling agents: Prospera Financial Services, Inc. Stifel, Nicolaus & Company, Incorporated Tricor Financial LLC LPL Financial Campbell Financial Services, Inc. Girard Securities, Inc. Polar Investment Counsel, Inc. The investigation concerns the potential conflicts of interest in the sales of the Campbell Funds by these brokerage firms to retail investors. According […]


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New York, NY (Law Firm Newswire) May 25, 2014 – Zamansky LLC announces that it has filed a FINRA arbitration for West Coast couple who claim to have suffered approximately $750,000 in losses from the UBS Willow Fund LLC (“UBS Willow Fund”). The FINRA arbitration is against UBS Financial Services Inc. (“UBS”) which sold the UBS Willow Fund to its brokerage customers. In 2013, the UBS Willow Fund finally liquidated after investors suffered 70% or more in losses. The Statements of Claim alleges that the UBS Willow Fund materially deviated from its disclosed strategy of investing in distressed debt, and […]


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New York, NY (Law Firm Newswire) May 16, 2014 – Michael G. Kessler, President & CEO of Kessler International was named a Finalist in the Accounting Executive of the Year category in The 2014 American Business Awards, and will ultimately be a Gold, Silver, or Bronze Stevie® Award winner in the program. Further, Kessler International was named a Finalist in the Accounting Company of the Year category, and will also ultimately be a Gold, Silver, or Bronze Stevie® Award winner in the program. The American Business Awards are the nation’s premier business awards program. All organizations operating in the U.S.A. […]


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New York, NY (Law Firm Newswire) May 14, 2014 – Zamansky LLC announces that it is investigating the Campbell Strategic Allocation Fund, Campbell Global Trend Fund and other managed futures funds (“Campbell Funds”). The investigation is over the suitability of the Campbell Funds, and the sales of these funds to brokerage customers by their brokerage firms. According to investment fraud attorney Jacob Zamansky, as managed futures funds, the Campbell Funds have substantial risks associated with leverage and the speculation involved in their trading strategy. These funds are suitable or appropriate only for investors willing to speculate or bear substantial risk […]


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New York, NY (Law Firm Newswire) May 13, 2014 – Zamansky LLC announces that it is investigating Doral Financial Corporation (NYSE: DRL)(“Doral”), and its officers and directors for potential securities fraud. The investigation concerns the truthfulness and accuracy of Doral’s financial statements, in view of recent events. On May 1, 2014, Doral announced that it was advised by the Federal Deposit Insurance Corporation that the bank could not include some or all of the its receivables from the Puerto Rican government in its calculation of Tier 1 capital.  Puerto Rico tax receivables accounted for $289 million of the bank’s approximately $679 million of Tier 1 Capital as […]


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New York, NY (Law Firm Newswire) May 7, 2014 – Zamansky LLC announces that it is investigating Unilife Corporation (UNIS), the medical device manufacturer, for potential securities fraud or breach of fiduciary duties owed to shareholders.  The investigation concerns whether Unilife made materially false or misleading statements to its investors, as alleged in a whistleblower lawsuit. The federal court lawsuit was filed on August 30, 2013 (E. D. Pa. Case No. 13-CV-5101) by former employee Talbot Smith, and alleges not only false statements made to investors but a scheme whereby UNIS engaged in false purchases to boost the appearance of […]


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New York, NY (Law Firm Newswire) April 18, 2014 – Zamansky LLC warns investors who hold Accumulator and Equi-Vest variable annuity contracts issued by AXA Equitable Life Insurance Company (“AXA Equitable”) that are invested in AXA Tactical Manager Strategy (“ATM”) managed funds. The warning is that investors who held these variable annuities invested in the ATM managed portfolios may have suffered lower investment returns since 2009. On March 17, 2014, AXA Equitable agreed to pay a $20 million to settle an investigation by the New York State Department of Financial Services (“DFS”) which began in 2011. The DFS investigation concerned […]


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