Stock Loss Blog is on Twitter!

February 9, 2011

The Stock Loss Blog is now on Twitter.  Make sure to follow us @stocklossblog.

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TD Ameritrade to Pay $10 Million to Reserve Yield Plus Fund Investors

February 9, 2011

On Feb. 3, 2011, the SEC announced that it had settled with TD Ameritrade over investments in the Reserve Yield Plus Fund. Specifically, the SEC found that TD failed to supervise its representatives, leading to: representatives . . . at times mischaracterized the Fund as a “money market fund,” an “enhanced money market fund” or a “higher […]

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Another Reason to Hate the Mets

February 8, 2011

Via the NY Times Dealbook, Bernie Madoff’s bankruptcy trustee filed a 365 page complaint against the New York Mets’ owners (and their business affiliates) to reclaim $300 million in profits the owners made from Madoff accounts.   Basically, Madoff’s trustee (who administers Madoff’s bankruptcy estate on behalf of Madoff’s unpaid creditors and victims) is seeking […]

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Dropping Knowledge: Shareholder Derivative Cases

February 7, 2011

A derivative action is a useful device for shareholders of both private and public companies who believe that directors and officers are breaching fiduciary duties, approving wasteful transactions, or committing other torts that are harming the company, and therefore, stockholders’ investment.  It is a legal fiction, where shareholders sue on behalf of the company. Specifically, […]

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Sanofi/Genzyme Close to a Deal

February 6, 2011

According to Bloomberg, the Sanofi/Genzyme deal is close.  Deals are usually announced on Monday mornings.  I wonder if we will hear something tomorrow. . .

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Airgas and Air Products Litigation Update

February 5, 2011

This blog was started well after the Airgas/Air Products deal litigation started, but since, the litigation has come to a head.  “The Deal Professor” Steven Davidoff provides a good refresher/analysis (including the parties’ briefs!) here.   If you want more information about the case, Francis Pileggi’s Delaware Corporate and Commercial Litigation Blog has excellent coverage […]

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Fiduciary Rules for Stockbrokers (Another take)

February 5, 2011

Chuck Jaffe from MarketWatch has a similar take on debate I referred to in this post. Mr. Jaffe’s article acknowledges that: For most investors, the difference between an “investment adviser” and “broker” is semantic. Both give investment advice, selling either specific investments or advice on how to structure a portfolio. And observes that: In the […]

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NY Times Dealbook: Corporate Liability for Insider Trading Analysis

February 4, 2011

Peter Henning from the NY Times Dealbook “White Collar Watch” with a good analysis about a company’s liability for its employees’ insider trading: An express corporate policy prohibiting employees and consultants from engaging in illegal conduct does not, however, insulate a company from being charged with a crime based on actions that violate the policy. […]

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Dropping Knowledge: Investment Suitability

February 3, 2011

In an earlier post, I promised that I would discuss investment suitability.  This is a common sense concept, but often overlooked by investors.  Under Financial Industry Regulatory Authority (FINRA) rules, your broker has an obligation to recommend suitable investments for you.  Specifically NASD Rule 2310 (which FINRA currently uses and will soon be updated): (a) […]

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Does Your Broker Know that You Are Supposed to Come First?

February 2, 2011

The New York Time Bucks Blog recently posted a story called  “SEC Staff to Brokers: Clients Should Come First.”  Apparently, there is a debate that folks who call themselves “financial advisors” do not have duties to their clients.  The SEC is having a rule-making session about this topic this year, and it may be that […]

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