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Penny Stock Risks – Caveat Emptor
Legal Interview |
2010/09/22 06:11
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The securities industry has tough rules when it comes to brokers soliciting the purchase of “penny stocks.”nbsp; Typically a stock is considered a “penny stock” when it trades for less than $5 a share and it does not trade on a major exchange (e.g., New York Stock Exchange or NASDAQ).nbsp; Penny stocks normally trade on the OTC Bulletin Board (OTCBB) or Pink Sheets.nbsp;
Aside from the requirements, among others, that soliciting brokers have to supply investors with a document disclosing the risks associated with penny stocks and wait, in some cases, 2 days after providing the disclosure document before placing your first order (i.e., “speed bump”), there are actual disclosure ratings assigned to each penny stock.nbsp;
A market center called a href=http://www.otcmarkets.com/ target=_blankfont style=background-color: #fefceb color=#6a4b39OTC Markets/font/a places penny stocks into different a href=http://www.otcmarkets.com/otcguide/investors_market_tiers.jsp target=_blankfont style=background-color: #fefceb color=#6a4b39disclosure categories/font/a based on things from whether or not the company is current on its financial reporting to whether the stock is the subject of fraud or stock promotion.nbsp; Your broker and his brokerage firm and clearing firm have access to this information and so do you.nbsp; There are over 13,000 stocks having either the label of “Caveat Emptor,” “Grey Market,” or “Pink Sheets No Information.”nbsp; Have you bought a penny stock recommended by a stock broker that has one of those labels?nbsp; Did your broker disclose that to you? |
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Ill. gov's legal woes worsen as fundraisers defect
Legal Interview |
2008/12/17 09:12
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| Jailed political fundraiser Antoin Tony Rezko's attorneys sent a strong signal Tuesday that he has resumed his on-again, off-again cooperation with federal prosecutors in the criminal case against Gov. Rod Blagojevich, and another one-time adviser to the governor served notice that he intends to plead guilty to tax charges.pRezko has been among the Democratic governor's top fundraisers and advisers and can provide prosecutors with a penetrating glimpse into the workings of Blagojevich's inner circle. He was convicted in June of scheming to squeeze companies seeking state business for payoffs./ppThere were signs that Rezko's relationship with prosecutors had soured in recent weeks. But on Tuesday, both sides agreed to postpone his sentence indefinitely, a sign that prosecutors think their sometimes reluctant witness has more to tell them./ppWhile Rezko squared things with federal prosecutors, attorneys for former Blagojevich campaign chairman Christopher Kelly said he intends to plead guilty to tax charges next month. Among other things, Kelly, a roofing contractor and consultant, is charged with using company funds to pay gambling debts and in at least one case writing the payment off as a business expense./ppKelly could also give the government an inside look at the workings of the Blagojevich administration. But chief defense counsel Michael Monico said Tuesday that cooperation isn't part of the agreement under which Kelly will plead guilty./p |
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DA: Criminal charges possible in boy's Uzi death
Legal Interview |
2008/10/29 19:43
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| A prosecutor said Tuesday he is investigating whether criminal charges should be filed after an 8-year-old boy accidentally killed himself while firing an Uzi submachine gun at a gun fair in western Massachusetts.pChristopher Bizilj (Bah-SEAL) of Ashford, Conn., shot himself in the head when he lost control of the 9mm micro submachine gun as it recoiled while he was firing at a pumpkin. Police have said the shooting at the Machine Gun Shoot and Firearms Expo at the Westfield Sportsman's Club on Sunday was an accident./ppHampden County District Attorney William Bennett said he is investigating whether the gun fair violated the state's firearms law by allowing the boy to fire the machine gun, and also whether it was a reckless or wanton act to allow an 8-year-old to use a fully loaded automatic weapon./p |
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High Profile Local Law Firms Merge
Legal Interview |
2008/03/06 06:59
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The San Diego law firm of Steigerwalt amp; Associates merged Wednesday with the Pacific Law Center, creating a new entity specializing in personal injury, bankruptcy and criminal defense litigation.
The new firm -- called Kerry Steigerwalt's Pacific Law Center -- will have 30 attorneys working out of offices in downtown San Diego, La Jolla, Escondido and Chula Vista, Steigerwalt said.
He said the company will provide effective and affordable representation for the average person who becomes involved in litigation, offering the services of experienced lawyers who have handled thousands of matters ranging from death penalty cases to traffic offenses.
Steigerwalt stressed KSPLC's commitment to offering experienced and effective legal services at affordable rates, including free initial consultations.
The very rich can afford whatever lawyers they choose, Steigerwalt said. The poor are provided lawyers at public expense. The big gap in legal representation involves the average citizen who becomes involved with litigation and doesn't know where to turn. We're here to provide them that same access to justice.
Among Steigerwalt's high profile clients in the past has been Sam Sulieman, the man who assaulted FOX6 Investigative Reporter John Mattes.
a href=http://www.fox6.com/mediacenter/local.aspx?videoID=332641http://www.fox6.com/mediacenter/local.aspx?videoID=332641/a |
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Civil Rights the Hawthorne Police Dept The LAPD
Legal Interview |
2008/03/05 12:16
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pCivil Rights Litigation. Gary discusses alleged police brutality and alleged misconduct by the Hawthorne, California, and Manhattan Beach, California, police. Joining Gary is Scott Tierney, who alleges he suffered serious personal injuries during a booking process with the Hawthorne police. In this powerful interview, Gary and Scott provide riveting testimony about a series of allegedly grave actions by the police and the need to educate the public about these shocking details. Gary further addresses the broader problem of police misconduct and its threat to public safety and community trust. Police misconduct also includes accepting bribes, improper search and seizure, harassment and racism in law enforcement. Police misconduct violates the oath of peace officers and their responsibilities as public servants. Victims of police misconduct can be wrongfully convicted of crimes, lose property and freedom, and face social stigmatization. Police misconduct also creates distrust between police and the public they are meant to protect. Police misconduct often goes uncorrected because people do not understand their rights as citizens. Prevention of police misconduct by an informed public can avert violence, wrongful convictions, and abuse of authority. In general, police misconduct is the exception - most police officers are law-abiding citizens, but when police misconduct does occur, police departments can fail to address the problem in the appropriate manner./ppGary S. Casselman is a superb trial attorney with extensive experience in the fields of criminal defense, personal injury and police misconduct. He has authored and lectured about police misconduct litigation and is a court qualified expert in matters such as legal malpractice and enjoys membership in the Million Dollar Advocates Forum. Gary is also a member of the Consumer Attorneys of Los Angeles and Police Watch. He holds an undergraduate degree from the University of Michigan and a law degree from Southwestern University School of Law.
You can contact Gary at 310-390-4406 /ppa href=http://www.lawyers.com/garycasselmanhttp://www.lawyers.com/garycasselman/a/ppor email a href=mailto:gary.casselman2@verizon.netgary.casselman2@verizon.net/a
/p |
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