The Financial Industry Regulatory Authority (“FINRA”) has sanctioned Geneos Wealth Management, Inc. (“Geneos Wealth Management”) for failing to reasonably supervise brokers’ recommendations of the LJM Preservation & Growth Fund. Geneos Wealth Management was also sanctioned for negligently omitting to tell investors in an offering related to GPB Capital Holdings, LLC…
**Update: April 20, 2022** GWG Holdings, Inc. has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of Texas. As a result of the bankruptcy filing, all accrued principal and interest payment obligations owed to GWG L Bond investors have been halted as…
**Update: April 20, 2022** GWG Holdings, Inc. has filed for Chapter 11 bankruptcy protection in the United States Bankruptcy Court for the Southern District of Texas. As a result of the bankruptcy filing, all accrued principal and interest payment obligations owed to GWG L Bond investors have been halted as…
New York securities arbitration law firm Iorio Altamirano LLP is investigating the sales practices of broker Mark Williams connected with his recommendation of L Bonds issued by GWG Holdings, Inc. to senior and elderly customers. From November 2015 until March 2021, Mr. Williams was registered as a broker with Centaurus…
Investor advocate law firm Iorio Altamirano LLP is investigating potential securities arbitration claims against Centaurus Financial, Inc. for its sale of L Bonds issued by GWG Holdings, Inc. Upon information and belief, Centaurus Financial, Inc. was a part of Emerson Equity LLC’s network of broker-dealers who sold the speculative, high-risk,…
Prominent securities arbitration law firm Iorio Altamirano LLP is investigating the sales practices of broker Tony Barouti connected with his recommendation of L Bonds issued by GWG Holdings, Inc. to senior and elderly customers. Mr. Barouti is registered as a broker with Emerson Equity LLC in Los Angeles, CA, and…
New York securities arbitration law firm Iorio Altamirano LLP is investigating potential securities arbitration claims against Emerson Equity LLC and its network of broker-dealers for their sale of L Bonds issued by GWG Holdings, Inc. (Nasdaq: GWGH). On January 15, 2022, GWG Holdings Inc., a company known for selling life-insurance…
In an annual report more than two decades ago, Warren Buffett dispensed some wise words of knowledge: “You only find out who is swimming naked when the tide goes out.” Reportedly, Mr. Buffett was referring to knowing what risks a company is taking until it faces adverse conditions. Mr. Buffett…
Partners August M. Iorio and Jorge Altamirano discuss Iorio Altamirano LLP’s groundbreaking arbitration award against Robinhood over the January 2021 trading restrictions and what the award may mean for retail investors. Q&A: When was the arbitration claim that led to the award filed? The claim was filed shortly after Robinhood…
FINRA has suspended Joseph Scott Audia, formerly with Joseph Stone Capital L.L.C., from associating with any FINRA member in all principal capacities for two months. Audia consented to the sanctions and to the entry of findings that he failed to reasonably supervise a registered representative, who excessively and unsuitably traded certain…