Stock
Fraud in Jacksonville, Florida
Morgan Stanley Fraud
| Merrill Lynch Fraud | Smith
Barney Fraud | Credit Suisse Fraud
| Charles Schwab Fraud
Morgan
Stanley Fraud in Florida
Morgan Stanley has been accused of allowing its investment
banking interests to color its stock reports. It is one of
twelve financial firms to come under recent fire. Luxury firm
LVMH says that Morgan Stanley gave preferential treatment
to its rival, Gucci, because Gucci is an investment banking
client at Morgan Stanley. Although Morgan Stanley did not
admit wrongdoing, the firm did agree to a recent $125 million
dollar fine to the SEC. If you believe you have a case against
Morgan Stanley, please contact the Morgan Stanley fraud lawyers
at Farah & Farah, P.A. today - located in Jacksonville,
Florida.
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Merrill
Lynch Fraud in Florida
Merrill Lynch has been accused of issuing positive reports
about stocks they knew were in decline due to conflicts of
interest. The firm did not want to give bad ratings to companies
whose investment banking business they wanted to gain or keep.
Allegedly, even though it knew trouble was brewing for them,
Merrill Lynch advisors gave high ratings to Internet companies
during the year 2000. When the companies value deteriorated,
Merrill Lynch clients lost their investments -- sometimes
their life savings. If you have lost money due to Merrill
Lynch investment fraud, please contact the Merrill Lynch fraud
lawyers at Farah & Farah, P.A. today - located in Jacksonville,
Florida.
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Salomon
Smith Barney Fraud in Florida
Salomon Smith Barney was fined $400 million in April of
2003 for allegedly allowing conflicts of interest to influence
its telecom stock reports. The firm's roster of investment
banking clients included major telecommunications clients
such as WorldCom. During the telecom bust, Smith Barney continued
to give high ratings to its client companies up until just
months before they collapsed. The misleading stock reports
cost investors millions. Although former Smith Barney telecom
analyst Jack Grubman maintains his innocence, the firm agreed
to pay the $400 million fine levied by the SEC, even though
it was twice the amount Merrill Lynch and some other firms
paid. If you have lost money due to Salomon Smith Barney investment
fraud, please contact the securities fraud lawyers at Farah & Farah, P.A.
today - located in Jacksonville, Florida.
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Credit
Suisse First Boston Fraud in Florida
The fraud allegations against Credit Suisse First Boston
(CSFB) encompass several areas. First, as with so many other
brokerage firms, the question of conflict of interest between
the firm's investment banking business and its research and
stock reports has arisen in the CSFB case. Former CEO Frank
Quattrone is accused of favoring analysts who gave favorable
stock reports to CSFB's investment banking clients. There
has also been a question as to whether Credit Suisse was involved
in "laddering" stocks. This means selling a buyer
a set number of stocks before they go public on the condition
that they buy an equal amount once they do go public. This
benefits the buyer because they get a good deal on the pre-market
stocks and the guaranteed sale temporarily inflates the stock
price for the securities firm. Finally, Quattrone and CSFB
are accused of "spinning" stocks, or giving certain
privileged clients (usually executives of top investment banking
clients) access to new stock before they hit the market. The
client can sell them for a large return in the first busy
day or two of trading. In exchange, CSFB gets their investment
banking business and heavy transaction fees. If you have lost
money due to Credit Suisse First Boston investment fraud,
please contact the securities fraud attorneys at Farah & Farah, P.A.
today - located in Jacksonville, Florida.
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Charles
Schwab Fraud in Florida
A discount brokerage, Charles Schwab tried to be an alternative
to the big-name securities firms that were coming under fire.
Schwab took several key steps in an effort to avoid conflicts
of interest and other types of securities fraud. Nevertheless,
Charles Schwab is facing several lawsuits. One deals with
a delayed billing that occurred nearly half a year after investors'
transactions were handled. Another is a class action lawsuit
accusing Charles Schwab of overcharging clients for trades
and services. If you have lost money due to Charles Schwab
investment fraud, please contact the securities fraud lawyers
at Farah & Farah, P.A. today - located in Jacksonville,
Florida.
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