Credit Monitoring Service Ordered to Refund Fees

Block & Landsman by Block & Landsman

A closeup of writing, consumer fraud A number of credit monitoring services promise access to credit reports and assistance in "cleaning them" of negative information. These companies prey on people's well-reasoned concerns regarding the effect negative credit information can have on their finances. In many cases, these companies charge fees for services that are available for free directly from the credit bureaus themselves. FTC Cracks Down on One Technologies LP Following its investigation, the FTC has determined that One Technologies LP defrauded more than 145,000 consume...Read More

Will Lawsuits for Disclosure Omissions be Limited?

Block & Landsman by Block & Landsman

supreme-court, security fraudThe United States Supreme Court recently announced that it will soon decide whether publicly traded companies can be held liable for securities fraud when they fail to disclose information about "known trends or uncertainties" in shareholder reports. The announcement comes after a 2016 federal appellate court ruling found that investors and other private entities can sue public companies for fraud when they make omissions or statements that are misleading. Prior to the 2016 ruling, at least two other circuit courts have held that the Securities...Read More

Protecting Senior Citizens From Investment Scams

Block & Landsman by Block & Landsman

A closeup of signing, securities fraudProtecting senior citizens from investment scams is important to ensure their future financial stability. Seniors are often targeted, and anyone with investments should research the company, take the time to consider all options, be wary of unsolicited offers, and be aware of red flags. Seniors should stay informed of how to avoid scammers and what to do if fraud is suspected. Seniors may be especially vulnerable because they don't want to say no or be impolite to a pushy or insistent broker. Securities law is highly technical, and an experi...Read More

Former advisor accused of defrauding Cy Young winner

Block & Landsman by Block & Landsman

Words: illegal activities, securities fraudFormer major-league baseball pitcher and a television commentator for the Chicago White Sox, Steve Stone was among a number of investors who were defrauded out of more than $1 million by an unlicensed securities broker in both Illinois and Arizona, according to investigators in Arizona. In a fraud hearing held before the Arizona Corporation Commission on Sept. 12, an attorney told the administrative law judge that Bart Ellis, an unlicensed financial adviser, lost or spent the funds from four customers, including Stone. Financial Advisor Clai...Read More