Wall Street Journal reports on a multi-million dollar award for client arbitration represented by Brian Smiley. Josephthal Lyon & Ross and one of its former brokers must pay nearly $2 million in an arbitration case that alleged the former broker steered an investor to risky private-company investments without spelling out the risks.
Amateur Investors Often Make Ill-Advised Moves In Bumpy Market
Brian Smiley comments on mismarketed limited partnership investments. New York — Even Warren Buffett can blow it big-time with a rotten pick. Just ask him about the $358 million stake in USAir in 1989 that’s worth about half that today. If a current-day deity can blunder in placid markets, imagine the potential for crashing a […]
M&A’s $5 Million Existential Crisis
Defective fairness opinion results in a $5 Million award and “existential crisis” in the M&A industry. After the recent arbitration ruling against First Boston, angst has penetrated the once solid and predictable business of issuing fairness opinions
Big Board Panel Orders CS First Boston To Pay $5 Million Over Fairness Report
Brian Smiley mentioned in Wall Street Journal on clients’ $5,000,000 award for misleading M&A fairness opinion. A New York Stock Exchange arbitration panel ordered CS First Boston Inc. to pay a total of $5 million to a group of doctors who claimed that the big investment bank gave a faulty fairness opinion in a 1992 merger […]
N.A.S.D. Set to Expand Available Data to Public
Brian Smiley quoted in New York Times on broker disclosure rule. The board of the National Association of Securities Dealers is expected to announce today that it has approved a plan to make more information publicly available about disciplinary action against brokerage firms and their registered representatives.
Value of Penny Stocks Often Questionable
Brian Smiley quoted in Atlanta Journal Constitution on broker’s duties. Investors who sank their savings into a Florida company named Venus Cruise Line in 1985 and 1986 are still waiting for their ship to come in. Or go out.
