Current Fraud Investigations

UBS Yield Enhancement Strategy Losses

National investor advocate law firm Dimond Kaplan & Rothstein, P.A. (DKR) continues to pursue FINRA arbitration claims against UBS Financial Services, Inc. (UBS) on behalf of investors who lost money in the UBS Yield Enhancement Strategy (YES) options strategy. UBS YES was inaccurately marketed as a low-risk options investment strategy to investors that has resulted in losses for many investors throughout the United States. As of this writing, YES investors have lost up to 33% since market volatility increased in December 2018 and continuing through March 2020. Total YES investor losses are expected be more than $1 billion. YES investors can file FINRA arbitration claims to recover their losses.

GPB Capital Holdings Causes Investor Losses

DKR is investigating a number of brokerage firms that recommended customers invest in GPB Capital Holdings’ high-risk, high-commission private placements. The investments, including two of GPB’s funds — GPB Automotive Portfolio and GPB Holdings II, have caused many investors to lose a significant amount of money after a series of events including the failure of GPB Capital Holdings to file required SEC reports in April 2018. Securities regulators have launched investigations into GPB Capital Holdings and brokerage firms’ sales of GPB’s private placements. GPB reportedly relied on numerous FINRA brokerage firms including Royal Alliance Associates, Sagepoint Financial and Woodbury Financial Services, to sell its funds. In exchange, the brokerages received high commissions. Investors who suffer losses from GPB Capital Holdings may have valid claims to recover those losses from the brokerage firms that sold the investments.

SandRidge Energy Investment Losses

Oil company SandRidge Energy shares have fallen from a price of more than $7.00 in May 2014 to less than $0.10 May 2016. SandRidge is having trouble managing nearly $4 billion of debt, has been cutting its workforce, and its future is uncertain as oil prices remain low. The stock was delisted from the New York Stock Exchange in January 2016 for “abnormally low” trading price levels. SandRidge now trades on the OTC (OTCMKTS: SDOC). If your broker misrepresented SandRidge as a low-risk, income investment or over-concentrated your account in SandRidge or other oil and gas companies, you may have a valid FINRA arbitration claim to recover your losses. Contact a DKR stockbroker negligence lawyer to discuss your rights.

Vanguard Natural Resources Investment Losses

Vanguard Natural Resources investments have lost approximately 80% of their value as the oil and gas sector has declined. Vanguard (symbols: VNR, VNRAP, VNRBP, or VNRCP ) acquires and develops oil and natural gas properties in the United States. Some brokers may have misrepresented Vanguard as a safe, income-producing investment when it actually subjected investors to much greater risk. If you suffered Vanguard Natural Resources investment losses at UBS, Morgan Stanley, Barclays, Stifel, Credit Suisse, BB&T, J.P. Morgan, Janney Montgomery, Oppenheimer, Ladenburg Thalmann, or any other brokerage firm you may be able to recover your losses through a FINRA arbitration claim. DKR has a national reputation representing investment fraud and stockbroker negligence victims. Call one of our securities lawyers for a free case evaluation.

Linn Energy Investment Losses

Linn Energy (NASDAQ:LINE) is an oil and natural gas company headquartered in Houston, Texas. Linn suspended its distribution payout to investors in October 2015 and its share price has fallen from nearly $40.00 in late 2012 to only $0.33 as of May 2016. From May 2015 to May 2016 alone, its share price has dropped from nearly $15.00 to only $0.33. There is concern about Linn’s ability to remain in business after the company announced that it does not expect to remain in compliance with the terms of hundreds of millions of dollars of loans that it has taken. Some brokers sold Linn Energy to retirees and others as a safe, income-producing investment and other brokers over-concentrated client accounts in Linn and other oil and gas investments. If you received unsuitable investment advice or your broker misrepresented the risk of Linn Energy or other oil and gas investments you likely have a valid FINRA arbitration claim to recover your investment losses. DKR already has filed FINRA claims on behalf of investors who suffered Linn losses. If you suffered Linn Energy investment losses call our investment fraud lawyers at 888-578-6255 for a free case evaluation.

Breitburn Energy Investment Losses

DKR has filed FINRA arbitration claims to recover Breitburn Energy LP (NASDAQ: BBEP ) and other oil and gas investment losses on behalf of investors. Breitburn Energy Partners LP is an oil and gas master limited partnership (MLP). Its stock has dropped from a high of about $22 in August 2014 all the way down to $0.31 in May 2016. As with many oil and gas companies, Breitburn borrowed millions of dollars to fund its business. The recent decline in oil and gas prices may make Breitburn unable to make its loan payments and likely will greatly impact its ability to pay distributions to investors. Investors who were sold BBEP as a safe, income-producing investment would have been misled, especially if their accounts were over-concentrated in Breitburn and other oil and gas MLPs. Call our investment fraud lawyers for a free case evaluation.

United Development Funding I, III, IV & V

The FBI recently raided United Development Funding’s (UDF) Texas office and the Securities & Exchange Commission (SEC) is investigating UDF for potential illegal Ponzi scheme activity. UDF is a real estate investment company that purportedly invested in residential real estate projects predominantly in Texas. UDF is accused of using new investor money to fund earlier UDF companies, allowing those prior companies to pay earlier investors. Many alleged development sites, which serve as collateral to UDF development loans, remain raw, undeveloped land 2, 3, 5 (as much as 10) years after loans were issued. As a result of the Ponzi allegations, UDF IV shares prices have fallen drastically. Brokerage firm that sold UDF securities were obligated to perform adequate due diligence on UDF before recommending UDF to you and also to fully and fairly disclose the investment risks to you. If you suffered United Development Funding losses, you may have certain legal rights to help you recover your UDF losses.

LPL Financial Sales of Leveraged ETFs

Massachusetts regulators recently fined LPL $1.8 million for marketing and selling risky, leveraged ETFs to retail investors, as well as failing to properly supervising investors’ leveraged ETF investments. The leveraged ETFs, Pro Shares Ultra S&P 500 ETF and the Pro Shares Ultra Silver ETFs, are designed to be bought and held for only short periods of time, but many retail brokers do not understand leveraged ETFs and fail to inform their customers of the nature and risk of leveraged ETFs. Due to their risk and complexity, leveraged ETFs may be unsuitable for retail investors. As a result, many brokerage firms prohibit the sale of leveraged ETFs to retail investors. If you or anyone you know lost money in leveraged ETFs, contact a DKR investment fraud lawyer for a free consultation.

UBS Puerto Rico Bond Fund Losses

DKR represents more than 100 Puerto Rico residents who have lost a significant amount of money in UBS Puerto Rico closed-end bond funds. UBS PR recommended over-concentrated positions in the UBS PR funds and even recommended that some investors borrow money to buy these risky, leveraged funds or use the risky UBS PR funds as collateral for loans. Investors who suffered UBS Puerto Rico bond fund losses may be able to recover their losses through a FINRA arbitration proceeding. Please contact Dimond Kaplan & Rothstein, P.A. attorney Jeffrey B. Kaplan at (888) 578-6255. 

LPL Financial Sales of REITs and Variable Annuities

DKR is reviewing a number of cases involving LPL Financial’s sales of non-traded REITs and variable annuities to elderly investors. We believe many of these sales were unsuitable because they subjected investors to more risk than the investors were willing or able to take. LPL has paid millions of dollars in regulatory fines and to settle FINRA arbitration claims over the past several years as a result of its misconduct. In the Fall of 2014, LPL’s CEO even apologized to LPL’s shareholders for the firm’s compliance problems. If you or anyone you know lost money in investments that an LPL broker recommended to you, contact one of Dimond Kaplan & Rothstein, P.A.’s offices in Miami, Los Angeles, New York, or West Palm Beach for a free consultation.

If you think you may have a case not reported in the above list, please contact Dimond Kaplan & Rothstein, P.A. at (888) 578-6255 for a FREE consultation to review your rights and options.