Investment Litigation Blog

David Lerner & Associates, Inc. (DLA), of Syosset, NY, is under investigation by FINRA, the Financial Industry Regulatory Authority. FINRA filed a complaint charging the firm with soliciting investors to purchase shares in Apple REIT Ten, a non-traded $2 billion Real Estate Investment Trust (REIT) without conducting a reasonable investigation to determine whether it was…

Banks Law Office is actively investigating Apple REITs, certain collateralized mortgage obligations (“CMOs”), and Real Estate Mortgage Investment Conduits (“REMICs”) sold by David Lerner Associates, Inc. ( “DLA”). This investigation follows a formal complaint filed by FINRA alleging that DLA sold Apple REIT Ten shares “targeting unsophisticated and elderly customers” to buy illiquid securities. Glade…

We are pleased to announce that attorney Robert Banks was recognized by Avvo and was honored as “Superb” after having received exemplary high ratings. This is a distinction that signifies the respect other lawyers and Avvo have for his legal talent, professionalism, and integrity.

Robert Banks, security attorney of Banks Law Office, chaired FINRA’s Arbitrator Training Task Force and played a key role in the development of the training materials. Becoming an arbitrator gets you involved in your community and empowers you to help citizens resolve disputes. As an arbitrator you will learn more about the industry and refine…

Robert Banks wins $7.8 million dollar jury verdict for client in Multnomah County, Oregon. Banks Law Office PC Portland developer Terry Bean wins $7.8 million malpractice judgment against Schwabe firm www.oregonlive.com

Selling Away Claims Under Investigation When a financial adviser sells an investment to a client that has not been investigated and approved for sale by his brokerage firm, it is called “selling away” in the financial services industry. Financial advisers and stock brokers who engage in selling away are effectively paid a commission under the…

Banks Law Office, PC is conducting an investigation of former LPL Financial and Berthel Fisher & Co. broker Scott McKee and his company, Quality Financial Group for fraud, negligence, and misuse of his customers’ accounts. We have reason to believe that for years, Mr. McKee recommended high risk, and sometimes fraudulent investments to his customers. Many…

Portland attorney prompts SEC to review disclosure loophole in financial adviser brochures

Banks Law Office is representing five investors in the Grifphon Alpha Funds. We have not filed any claims against Grifphon or its management in these cases. Rather, we are pursuing claims against the bank, investment advisors and brokerage firm that recommended Grifpon to our clients. Our clients are in California and Oregon. Four of the…

On January 15, 2011, we moved to our new offices on the 21st Floor of the Wells Fargo Tower in Portland. Please direct all correspondence to our new office at 1300 SW Fifth Avenue, Suite 2135, Portland, Oregon 97201.