The Golden Lounge

[Mr. Bill]

Securities Fraud -- Free area where you can click below

http://www.jameshoyer.com/problem_securities.html

Contact an attorney for a confidential, no-cost consultation by clicking here.
American investors find themselves in tough times today. Wall Street greed has had a catastrophic effect on the lives of Main Street investors. Illegal and unethical manipulations by Wall Street investment bankers and stock analysts have ravaged the retirement plans and investment accounts of millions of Americans. If you lost $100,000 or more in the stock market, our teams of former prosecutors and former FBI agents may be able to help you recover lost assets through arbitration. You can contact our lawyers for a no-cost consultation by clicking here.

The global settlement announced on April 28, 2003 was a necessary and important step by regulators. Click on these links to read their announcement and the fact sheet on the settlement. However, the money set aside to repay investor losses is a drop in the bucket compared to the total losses individuals have incurred. You can fight for more. But to do so, you'll need your own attorney. Arbitration proceedings offered by the National Association of Securities Dealers and the New York Stock Exchange allow many investors the opportunity to recover losses caused by portfolio unsuitability, broker misrepresentation, neglect, and fraud. To talk to us for free about representation, click here.

Investigations by state attorneys general and securities regulators nationwide uncovered a wide range of corporate investment fraud conducted by some of America's most prominent brokerage houses. New York Attorney General Eliot Spitzer found shocking evidence that Merrill Lynch's stock analysts falsely upgraded research ratings for a wide range of stocks in an effort to attract investment banking business. Brokers nationwide recommended that investors buy stocks based on inflated ratings generated in New York. E-mail uncovered during the Spitzer investigation shows Merrill Lynch analysts inflated ratings (to make them appear to be very attractive or appropriate to purchase or to hold). Privately they labeled the stocks a "piece of crap" or a "piece of shit." Merrill Lynch made millions. Many investors lost their life savings. To see a list of the stocks click here.

Mr. Spitzer also found evidence of similar manipulation at Salomon Smith Barney, which is owned by Citigroup Inc. He investigated allegations that Salomon gave certain companies stock favorable analyst reports in an effort to win lucrative investment-banking deals. Securities regulators also investigated whether Salomon gave clients "sweetheart" IPO deals to win investment banking business. To see the list of stocks that were involved click here.

Massachusetts securities regulators investigated Wall Street's Credit Suisse First Boston. Massachusetts regulators alleged that Credit Suisse misled investors with biased technology stock research. Regulators reviewed more than 100,000 e-mails and alleged Credit Suisse engaged in a systematic fraud by altering research reports for investment banking clients.

In April 2003, Spitzer concluded that Morgan Stanley failed to manage conflicts of interest between research and investment banking divisions. Spitzer also stated that Morgan Stanley failed to supervise senior research analysts, including the company's top telecom analyst, Mary Meeker. Morgan Stanley had no system for reviewing the ratings issued by its senior analysts, who virtually never used the firm's lowest rating for stocks, Spitzer's office stated.

In December 2002 it was reported that Goldman Sachs, UBS Warburg, Lehman Brothers, Bear Stearns, Deutsche Bank, J.P. Morgan, U.S. Bancorp Piper Jaffray, and Thomas Weisel were other investment firms facing potentially huge fines as a result of their improper activities.

If you have suffered substantial investment losses, you may be able to recover lost assets through arbitration. You can contact our lawyers for a no-cost consultation by filling out the e-mail form below.

More Information: (some in Acrobat format)

* NASD - Joint staff report on broker-dealer sales of variable insurance products
* The New York Times - Two Awarded $5.2 Million From Citigroup
* Wall Street Journal - Citigroup Will Pay $2.65 Billion To Settle WorldCom Investor Suit
* Wall Street Journal - As Investors Win Arbitrations, Brokerage Houses Keep Paying
* The New York Times - Ex-Analyst Was Too Close to Tyco, N.A.S.D.Says
* The Wall Street Journal - With Wall Street on Defensive, Claims Against Brokers Surge
* Global Settlement Reached With Wall Street Brokers
* List of stocks included in settlement agreements
* Fact sheet on Global Settlement
* The Wall Street Journal - Wall Street Gets a Message That it Won't Soon Forget
* The Wall Street Journal - Wall Street Firms Settle Charges Over Research in $1.4 Billion Pact
* The Wall Street Journal - Street Braces for Revelations In Settlement Over Research
* New York Attorney General's Complaint against Merrill Lynch
* Wall Street Journal Article
* New York Attorney General's Complaint against Salomon Smith Barney
* 60 Minutes Story