Alvin Benjamin & Deborah Benjamin Joint Tenants, Cunningham Associates, LP, Mitchel Houses, Mitchel Field Senior Citizens Redevelopment Company, LP, Marine Terrace Associates, LLC, Jackson Terrace Associates of L.I. L.P. and Benjamin Development Company, Inc. v. Jason Peltz, Douglas Jones, Armand Pastine, Michael Rabinowitz and Maxim Group., LLC
FINRA Case No. 08-01839
FINRA Arbitration: Amount Requested $9,182,997.00
Case involved the recommended purchase of $10,000,000 (Ten Million Dollars) of Maxim Collateralized Debt Obligations ("CDO's") in the form of Principal Protected Notes ("PPN's"). Allegations concerned misrepresentations regarding the safety characteristics of the CDO's and maturity date of the CDO's. Clients were put into the lowest level tranche with the highest possible risk while the clients' investment objectives were safety of principal and income.
Date of Settlement: September, 2009
Amount of Settlement: Subject to a Confidentiality Agreement
Jeffrey B. Sciallo et al. v. Tyco International Ltd. et al.
Civil Action No. 03-1354-B
MDL No. 1335 Federal securities proceeding against Tyco International Ltd., Dennis Kozlowski and Mark Swartz. Represented three former officers of U.S. Surgical Corp. in connection with the merger of Tyco and U.S. Surgical. Claims concerned violations of Section 10b-5 of the Securities and Exchange Act of 1934 and stock options.
Date of Settlement: November 2008
Settlement Amount: Subject to a Confidentiality Agreement.
Lyons v. Merrill Lynch and Phua Young
Case #03-04172,
NASD Arbitration: Amount Requested: $625,000
Date of Decision: July 16, 2006
Amount Awarded: $621,562, including $240,000 in punitive damages against Merrill Lynch and Phua Young (Merrill Lynch securities analyst) and $125,000 in interest plus expert witness fees. Case involved conflicts of interest between Merrill Lynch securities analysts and investment banking relating to losses suffered in clients' accounts in Tyco common stock. Although the accounts were overall profitable, after hearing Arbitrators awarded 99% of damages sought relating to decline in Tyco common stock.
David and Jonathan Libman v. David Garfinkel, First Montauk Securities Corp. et.al.
NASD No. 03-02094
NASD Arbitration: Amount Requested: $300,000
Date of Decision: 2/24/06
Amount Awarded: $284,000 plus interest.
Naomi Sayegh v. J. Peter Ricketts, Ameritrade, Inc., Ameritrade Holding, Corp., and Accutrade, Inc.
NASD No. 02-00652
NASD Arbitration: case involved issues relating to conflict of laws, jurisdiction, application of Canadian registration requirements and applicability of Quebec law to Accutrade, a U.S. based broker-dealer and suitability and supervision issues regarding a self directed on-line trading account. Amount requested in Statement of Claim $156,000.
Date of Decision: 7/6/04
Amount Awarded $44,600 plus interest
Nationwide Life Insurance Company v. Helen Constans Christopher Rutland and Barbara Grahams
Index No. 01 CIV 3320 (DRD)
Date of Court Order: January 2002
Amount Awarded: $393,541.76 in compensatory damages and $800,000.00 in punitive damages. Federal Interpleader Action brought by life insurance company regarding the proceeds of an annuity and cross claims prosecuted on behalf of client against co-defendants alleging conversion, forgery, RICO, breach of fiduciary duty, breach of agency, negligence and punitive damages in connection with the purchase and sale of various annuities.
Carmine and Mary Ricca v. Adam Sanders, Salavatore Tacher, Kessington Wells, Inc. et.al.
NASD No. 98-03031
NASD Arbitration: amount requested $75,000.
Date of Decision 8/17/01
Amount Awarded: $85,500.
Robert and Fran Lax v. Kensington Wells, Inc., Joel Grant et. al.
NASD No. 97-00061
NASD Arbitration: amount requested: $436,250
Date of Decision: 11/17/99
Amount Awarded: $113,565 plus specific finding of fraud.
Louis and Dorothy Dequine et. al. v. Daniel Porush, Eric Blumen and Stratton Oakmont, Inc.
NASD No. 95-01335
NASD Arbitration: Amount requested: $283,000
Date of Decision: 2/10/99
Amount Awarded: $242,000 compensatory, $500,000 in punitive damages, attorneys' fees and costs total award in excess of $742,000.
G. Brooks Biddle et. al. v. Comprehensive Environmental Systems, Inc. et. al.
Case No. 96 Civ. 343
U.S. District Court E.D.N.Y.
Violation of 10b-5 of the Securities and Exchange Act of 1934 regarding Regulation S Offshore Offering.
Date of Settlement: 1998
Amount of Settlement: Subject to Confidentiality Agreement
Carol Hovanec, Dr. Marshal Pitts, et.al. v. Allan Viscardi, World Invest Corporation et. al.
NASD No. 97-03034
NASD Arbitration: Represented twelve Claimants through hearing. Amount requested: $1,146,500
Date of Decision: 8/28/98
Amount Awarded: $998,915
George Pentz, Arlemont Ranch et.al. v. Jordan Belfort, Daniel Porush, Stratton Oakmont, Inc. et. al.
NASD No. 94-02830
NASD Arbitration: Amount Requested: $713,000.
Date of Decision: 4/1/98
Amount Awarded: $713,000 plus interest and costs.
Frist Capital Partners, Thomas F. Frist and Patricia F. Elcan v. Ideon Group, Inc., Paul G. Kahn and William Lackey
96 Civ.3906 (WK) U.S. District Court S.D.N.Y.
Violation of 10b-5 of the Securities and Exchange Act of 1934 regarding the sale of Ideon common stock to Private Investment Bank and Institutional stock holder.
Date of Settlement: 1997
Amount of Settlement: Subject to Confidentiality Order.
Peter and Jeanne Celiberti v. Daniel Porush, James Kelly and Stratton Oakmont, Inc.
NASD No. 96-01053
NASD Arbitration: Amount Requested: $223,000.
Date of Decision: 6/19/97
Amount Awarded: $215,000 plus costs.
PaineWebber Limited Partnerships Litigation
Index No. 94-Civ-8457 (SHS)
Securities Class Action concerning allegations of misrepresentations and omissions relating to the purported safety characteristics of limited partnerships marketed by PaineWebber to the investing public
Date of Settlement 1997
Amount of Settlement $200,000,000.00.
Capital Realty Investors Tax Exempt Fund
Delaware Chancery Court
Index No. 14558
Date of Settlement 1996
Amount of Settlement $2,500,000.00.
Stonewall Farms, Ltd. and Robert Barsk v. Jordan Belfort, Daniel Porush and Stratton Oakmont, Inc. et.al.
NASD No. 95-00733
NASD Arbitration: Amount Requested: $170,000.
Date of Decision: 5/30/96
Amount Awarded: $122,000 in compensatory damages, $25,000 in attorney's fees plus costs. Total award in excess of $147,000.
Richard Shandelman v. Jordan Belfort, Daniel Porush, Ken Greene and Stratton Oakmont, Inc. et.al.
NASD No. 94-05085
NASD Arbitration: Amount Requested: $109,000
Date of Decision: 5/22/96
Amount Awarded: $93,000 plus interest.
Prudential Securities Litigation
Index No. MDL 1005
Securities Class Action against Prudential Securities Inc. concerning allegations of misrepresentation and omissions concerning the safety characteristics of limited partnerships marketed by Prudential to the investing public
Date of Settlement 1995
Amount of Settlement $100,000,000.00.
Metropolitan Life Derivative Litigation
Index No. 93-Civ-9035 (DC)
Date of Settlement 1995
Settlement Amount $4,000,000.00.
HMO America Securities Litigation
Index No. 92-Civ.-3305 (CPK)
Securities Class Action against directors regarding allegations of misrepresentation of claims reserves resulting in elevated stock values
Date of Settlement 1993
Amount of Settlement $4,000,000.00.
The Regina Company
Inc. Securities Litigation
Index No. 88-4149 (NHP)
(Securities Class Action against Chairman and CFO of former Regina Vacuum Cleaner Company and Big Six Accounting firm), Allegations of accounting irregularities, financial fraud and misrepresentation resulting in inflated stock values
Date of Settlement 1992
Amount of Settlement $7,300,000.00.
