Watchlist

We have represented investors with claims against Merrill Lynch, Morgan Stanley Smith Barney, UBS, and Wells Fargo (formerly Wachovia), and other large brokerage firms for many years. Many financial advisors at the large stockbrokerage firms serve their clients well. However, as with any large multinational corporation, there are bad apples as well. And, sometimes the large “wirehouse” firms have underwritten and sold investment products that were, in our view, defective by design, and sold to our clients without disclosing the true nature of the risks involved. These defective funds and private placements have cost investors hundreds of millions of dollars.

Grifphon Funds. We are actively representing investors who purchased funds in the Grifphon family of funds that were operated by Jusaf Jawed and others. Some clients purchased those investments from their own investment advisors, and others from regional banks. We have filed claims against these financial advisors for not telling our clients what Grifphon would do with their money, and for not revealing information about the background of persons operating the Grifphon funds.

DBSI. Banks Law Office has had numerous calls from investors who were unlucky enough to have been sold investments in DBSI, an investment that was widely marketed as a safe investment suitable for retirement portfolios, when in fact it was a fraudulent scheme. We encourage any investors who purchased a DBSI investment through a financial advisor, stockbroker or registered investment advisory firm to contact us to discuss their options.

Derivium. Banks Law Office has advised clients on their rights with respect to their participation in the Derivium stock option program. The tax advantages to investors were disallowed by the IRS, and the promoters of Derivium have been charged with criminal conduct. We understand how Derivium really worked, and are available to discuss potential claims against brokerage firms and investment advisors who recommended or sold the Derivium product.

Variable Annuities. Over the years we have had a number of cases involving the inappropriate sale of variable annuities to clients. Without exception, our clients did not understand what they were being sold when they agreed to purchase a variable annuity. They did not understand the costs involved in selling the products, the high fees involved in the operation of the annuities, and the large commissions that their advisors received for selling these products.

Auction Rate Securities. These investments were sold to high net worth investors as money market equivalent investments that could be withdrawn on short notice. That was not true. Many of the auctions failed, and investors have been unable to redeem their investments. We have successfully represented investors whose money was frozen in an ARS investment.

Pacific Western Bank. Pacific Western Bank in California made sales presentations on the Grifphon Funds to its clients. We are interested in speaking with others who may have been offered the Grifphon Funds through Pacific Western Bank.

Newbridge Securities. Newbridge is a Florida based broker-dealer whose financial advisors cold call customers across the country. We are representing an investor in a pending case against Newbridge in which we are alleging securities law violations and for charging excessive fees. Our case will be tried to and decided by a FINRA securities arbitration panel in 2011. We are interested in interviewing other investors who may have had similar experiences to our client in their dealings with Newbridge Securities.

Defined Benefit Plans. Banks Law Office represents a defined benefit plan that participated in a program called the Charlie Plan through a brokerage firm in Eugene, Oregon. We would like to speak with investors who participated in the Charlie Plan.