New York Times quotes Brian Smiley on investment scams. An investor stampede for mutual funds that invest in “Republican” investment plays? A brokerage firm that cleans up selling its underwritings of Chinese cellular phone companies to United States municipalities? Where will the financial scams, disasters and embarrassments of 1995 be found? And will the D-word […]
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 […]
Nabih v. Shearson Lehman Hutton
Wealthy international investor recovers losses and fees. Brian Smiley represented an Egyptian accountant who invested funds with a US brokerage firm’s Atlanta office. His broker churned his funds and sent him false information concerning the status of his accounts. An NYSE arbitration panel awarded the client all of his losses, his costs, and his attorneys’ fees. He […]
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.
Investing: Brokers Who Call Cold And Follow Hot Scripts
Brian Smiley comments in New York Times article about cold calls from brokers. The first call is a warm-up. “Hello, is this Mr. Joe Smith? Joe, this is Sally Script with Wannamakabuck Investment Bankers in New York. Joe . . . (pause) before I go any further, I want you to relax. I’m not calling to sell […]
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.
