Vestlyn BMP, LLC v. Balsam Mountain Group, LLC (Lawyers Weekly No. 020-044-16, 24 pp.) (Gregory McGuire, J.) 2016 NCBC 46 Holding: In support of its securities fraud counterclaim, the defendant-purchaser alleges that the property interest in question (the Lot 192 ...

Tagged with: Securities Fraud

WASHINGTON (AP) — A unanimous Supreme Court ruled Tuesday that investors can’t sue companies for making misleading statements of opinion prior to a public stock offering just because those statements ultimately turn out to be wrong. But the ruling said ...

Tagged with: Securities Fraud

Prousalis v. Moore (Lawyers Weekly No. 14-01-0449, 18 pp.) (Wilkinson, J.) No. 13-6814, May 7, 2014; USDC at Richmond, Va. (Gibney, J.) 4th Cir. Holding: The 4th Circuit says a securities lawyer who admitted knowing the IPO for his client, ...

Tagged with: Securities Fraud

William L. Thorpe Revocable Trust v. Ameritas Investment Corp. The complaint gives rise to a strong inference that defendant King intentionally or recklessly misrepresented that plaintiff Webster was guaranteed to receive a five-percent return on her investment.

Tagged with: Breach of Fiduciary Duty Securities Fraud Tort/Negligence

U.S. v. Offill The 4th Circuit affirms securities fraud and wire fraud convictions of a former lawyer for the Securities and Exchange Commission who participated in a “pump and dump” securities scheme designed to evade securities registration requirements, artificially inflate the value of securities and then realize a gain by selling them at the inflated value to the public.

Tagged with: Criminal Practice evidence Expert Testimony Securities Fraud

Katyle v. Penn National Gaming Inc. (Lawyers Weekly No. 11-01-0289, 31 pp.) (Baldock, J.) No. 09-2272, March 14, 2010; USDC at Greenbelt, Md. (Messitte, J.) 4th Cir. Click here for the full text of the opinion. Holding: Plaintiffs, investors who ...

Tagged with: Civil Practice Fraud Securities Fraud

RALEIGH (AP) – Two former Wachovia Securities brokers tricked dozens of mostly elderly clients into investing in what were supposed to be can’t-miss opportunities, only to lose roughly $8 million, according to a lawsuit filed by the Securities and Exchange ...

Tagged with: Fraud Securities Fraud

FAYETTEVILLE (AP) – Investors and banks are looking for a share of the $8 million estate a Fayetteville businessman left behind along with more than $40 million in debts when he killed himself. Harnett County court documents show bank founder ...

Tagged with: Business Corporate Fraud Securities Fraud

  Hall v. Tyco International Ltd. (Lawyers Weekly No. 10-03-0927, 10 pp.) (James A. Beaty, J.) M.D.N.C. Holding: Even if the court accepts plaintiff’s personal calculations as to how much money he lost in the 24 hours during which his ...

Tagged with: ERISA Fraud Health Insurance Labor & Employment Retirement Securities Fraud