Securities Arbitration Lawyers Blog

Silver Law Group is representing investors who purchased precious metals on a leveraged basis or on margin, particularly silver, through Worth Group and/or Treasure Coast Bullion Group and lost their entire investment after a “wipeout” event in March 2020. Worth Group and Treasure Coast are precious metals sales companies with…

Steven Luftschein (Steven Robert Luftschein CRD# 2690117) was recently barred from acting as a broker by the Financial Industry Regulatory Authority (FINRA) following an investigation into allegations that Luftschein violated federal securities laws. Luftschein, who operated in the greater New York area, was registered with Aegis Capital Corp. from 2013-2016,…

Michael Anthony Tavel (CRD# 4862463) was recently suspended from acting as a broker by the Financial Industry Regulatory Authority. Tavel was registered with broker-dealer LPL Financial LLC from 2004-2019, operating out of Indianapolis, Indiana. Tavel was also providing investment advice through Charter Advisory Corporation, an SEC-registered Investment Adviser, as well…

Sumitro Pal (CRD# 4763364) is a former registered broker and investment advisor whose last known employer was Morgan Stanley (CRD#:149777) of Bethesda, MD, where he was registered from 2009-2018. Pal has worked in the securities industry since 2004. Currently, Pal is the subject of four pending customer disputes, filed between…

In January 2021, the Securities and Exchange Commission (SEC) filed a complaint against Eric C. Malley (Malley) and MG Capital Management LP concerning what the SEC characterized as “an offering fraud orchestrated by Malley, the founder and principal of MG Capital, the investment manager of two real estate funds.” The…

In January 2021, Steadfast Apartment REIT Inc. announced that it is lowering its distribution rate and limiting share repurchases, effective February 1, 2021. Steadfast Apartment REIT is a publicly registered non-traded real estate investment trust (“REIT”). Steadfast invests in apartment communities across the United States. According to a letter to…

FINRA, the Financial Industry Regulatory Authority, is the U.S. broker-dealer industry’s most prominent self-regulatory organization, authorized by Congress to protect investors by ensuring that the broker-dealer industry operates fairly and honestly. However, despite overseeing more than 600,000 brokers across the country, FINRA’s jurisdiction does not include Vlad Tenev, the CEO…

Silver Law Group is investigating potential claims on behalf of investors in Clover Health Investments, Corp. Clover Health is a health insurance services company based in Tennessee. In January 2021, Clover Health went public, but shortly thereafter, Hindenberg Research published a report calling into question Clover’s business practices leading up…

On February 4, 2021, a federal indictment was unsealed against three GPB Capital insiders: David Gentile, Jeffry Schneider, and Jeffrey Lash. Gentile was the founder, owner, and CEO of GPB Capital, Schneider was the CEO of Ascendant Capital, the placement agent for GPB, and Lash was a managing partner of…

On February 4, 2021, the Securities and Exchange Commission (SEC) announced that it charged three people and their affiliated entities with running a “Ponzi-like scheme” that raised more than $1.7 billion by selling private placements issued by alternative asset management firm GPB Capital Holdings. Silver Law Group represents investors in…