Opinion: Borrowing its way out of trouble, Puerto Rico sinks
By: Elliot Blair Smith, Market Watch (Jan 2017)
Market Watch's "Opinion: Borrowing its way out of trouble, Puerto Rico sinks," by Elliot Blair Smith highlights the causes of the Puerto Rico's financial debacle. The Article quotes Craig McCann on UBS's investing of their own investor's assets in pension debt and sales tax bonds that they underwrote.
Deutsche Bank May Have Rigged Index in Paschi Deal, Audit Shows
By: Elisa Martinuzzi, Verson Silver, Donal Griffin, Bloomberg Quint (Dec 2016)
Bloomberg's "Deutsche Bank May Have Rigged Index in Paschi Deal, Audit Shows" reports on a Deutsche Bank internal audit report showing banker abuse of benchmarks, amid accusations of a widespread effort to rig rates for financial gain. The article quotes Craig McCann on the complexity and lack of transparency of these types of products to investors.
Spy Novelist Who Claimed Deception by Morgan Stanley Wins $3.6 Million
By: Mason Braswell, AdvisorHub (Jun 2016)
Mason Braswell's "Spy Novelist Who Claimed Deception by Morgan Stanley Wins $3.6 Million" reports on the financial harm an investor incurred when his broker overstated the value of his investments over a three-year period. Dr. O'Neal testified on liability and damages for the Claimant.
Interactive Brokers must pay $667,000 for portfolio selloff mishap -panel
By: Suzanne Barlyn, Reuters (Feb 2015)
In "Interactive Brokers must pay $667,000 for portfolio selloff mishap -panel", Suzanne Barlyn reports on a $667,000 FINRA award against Interactive Brokers arising out of its alleged failure to auto-liquidate a hedge fund account in a commercially reasonable manner. The article quotes Craig McCann who testified about the defects of IB's auto-liquidation procedures and on damages at the final hearing.
Wall Street Fights Back Against Expert Witness in Lawsuits
By: Suzanne Barlyn, Reuters (Feb 2012)
Suzanne Barlyn's "Wall Street Fights Back Against Expert Witness in Lawsuits" reports on largely unsuccessful efforts by the financial services industry to lessen the impact of SLCG's Craig McCann on securities litigation.
Complex Bond Faces Regulators' Scrutiny
By: Jean Eaglesham, The Wall Street Journal (Mar 2011)
"Complex Bond Faces Regulators' Scrutiny" reports on ongoing SEC and FINRA investigations into the sales of reverse convertibles. The article quotes Craig McCann on inadequate risk disclosures and reports on some statistics from SLCG's free database of structured product analysis.
It's Not Nice to Mess With J.R.
By: Gretchen Morgenson, The New York Times (Oct 2010)
"It's Not Nice to Mess With J.R." reports on the $11.6 million award Larry Hagman, who played J.R. in the hit television series Dallas, won against Citigroup. Paul Meyer testified on behalf of Mr. Hagman at the arbitration hearing.
Morgan Keegan suits loom large over Regions Financial
By: Crystal Jarvis, Birmingham Business Journal (May 2009)
"Morgan Keegan suits loom large over Regions Financial" quotes Craig McCann of SLCG on the inferior tranches of structured finance deals that dominated the RMK bond funds' portfolios.
Study: Mandatory Arbitration of Securities Disputes
By: Edward O'Neal, Dan Solin (Jun 2007)
Dr. O'Neal and attorney/author Dan Solin today released a statistical analysis of the results of the mandatory arbitration process during the 1995 - 2004 period. They assessed almost 14,000 NASD and NYSE arbitration cases and found that Claimant win rates and recovery amounts have declined significantly over time. Moreover, claimants fare more poorly in large cases and in cases against larger brokerage firms. Dr. O'Neal and Mr. Solin estimate that the expected recovery before legal fees and expenses in a large case against a top brokerage firm is only 12% of the amount claimed.
Press Release: Securities Arbitration Study
By: Securities Litigation & Consulting Group (Jun 2007)
Investors Recovered Just 22 Cents on Dollar in 2004, Down From 38 Cents in 1998;
Wins Dropped From 59 Percent in 1999 to 44 Percent in 2004, Lowest at Big Brokerages. To view the study, download it from the article: Mandatory Arbitration of Securities Disputes