Key Discovery Rule Decision in Aronstein v. Massachusetts Mutual Life Insurance Company

Stockbroker Law - Tuesday, June 28, 2016
Key Discovery Rule Decision in Aronstein v. Massachusetts Mutual Life Insurance Company

In a Decision handed down on April 22, 2016, the Honorable Mark G. Mastroianni, United States District Judge, for the District of Massachusetts, upheld the right of an investor, in a class action lawsuit against Massachusetts Mutual Life Insurance Company, to proceed with his underlying claims sounding in fraudulent misrepresentation. A careful and detailed analysis in the Decision noted that “[p]laintiff receives the benefit of the discovery rule under the laws of both states, with Massachusetts Law giving him three years from the date of reasonable discovery and New York Law giving him two years from that date.”  


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SEC Awards a Total of $8.5 Million Dollars in Two Separate Whistleblower Cases

Stockbroker Law - Tuesday, June 21, 2016
SEC Awards a Total of $8.5 Million Dollars in Two Separate Whistleblower Cases

In two separate press releases dated May 16, 2016 and May 17, 2016 the Securities and Exchange Commission announced awards of over $5,000,000 and $3.5 Million Dollars, respectively, to corporate employees whose information and tips bolstered and/or initiated separate investigations with evidence of wrongdoing. 


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FINRA Whistleblower Tip-Line

Stockbroker Law - Tuesday, June 14, 2016
FINRA Whistleblower Tip-Line

The Financial Industry Regulatory Authority maintains a whistleblower tip-line for individuals having information about potentially illegal or unethical activity involving the securities markets FINRA’s Office of Fraud Detection and Market Intelligence (OFDMI) whistleblower tip-line can be contacted at 1-866-96FINRA (1)-866-963-4672). Alternatively, individuals wishing to disclose and share potentially illegal or unethical activity in the securities markets can contact FINRA by e-mail at whistleblower@finra.org. 


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SEC Issues Investor Bulletin Regarding Stop Orders and Stop Limit Orders

Stockbroker Law - Tuesday, June 07, 2016
SEC Issues Investor Bulletin Regarding Stop Orders and Stop Limit Orders

On May 2, 2016 the SEC’s Office of Investor Education and Advocacy issued an investor bulletin designed to educate investors of the difference between using “stop” and “stop limit” orders to buy and sell stocks. Investors holding substantial positions in shares of individual stocks are oftentimes exposed to catastrophic losses in instances where their brokers have failed to recommend simple, protective strategies such as stop orders and stop-limit orders. 


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