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Release: Pawar Law Group Reminds Investors of July 29 Deadline in Securities Class Action Lawsuit Against Bloom Energy Corporation – BE

Release

Pawar Law Group Reminds Investors of July 29 Deadline in Securities Class Action Lawsuit Against Bloom Energy Corporation – BE

1 July 2019

Pawar Law Group announces that a class action lawsuit has been filed on behalf of shareholders who purchased shares of Bloom Energy Corporation (: BE) pursuant and/or traceable to Bloom Energy’s false and/or misleading registration statement and prospectus (collectively, the “Registration Statement”) issued in connection with Bloom Energy’s initial public offering completed in July 2018 (the “IPO”). The lawsuit seeks to recover damages for Bloom Energy investors under the federal securities laws. If you wish to serve as lead plaintiff, you must move the Court no later than July 29, 2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

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Filing: Gamma vs Merrill Lynch, Morgan Stanley

Filing

Gamma vs Merrill Lynch, Morgan Stanley

CourtListener, 27 June 2019

This action arises from Defendants’ unlawful and intentional manipulation of COMEX Gold Futures, COMEX Silver Futures, NYMEX Platinum Futures, and NYMEX Palladium Futures contracts, and options on those futures contracts (collectively, “precious metals futures contracts”) traded on the New York Mercantile Exchange (“NYMEX”) and the Commodity Exchange, Inc. (“COMEX”) from approximately January 1, 2008 through December 31, 2014 (the “Class Period”) in violation of the Commodity Exchange Act, 7 U.S.C. §§ 1, et seq. (the “CEA”) and the common law.

PDF (29 pages): Gamma vs Merrill Lynch, Morgan Stanley

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Fined: Sanford C. Bernstein & Co., LLC Fined by FINRA

Fined

Sanford C. Bernstein & Co., LLC Fined by FINRA

26 June 2019

An AWC was issued in which the firm was censured, fined $55,000, of which $6,000 is payable to FINRA, and required to revise its WSPs. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that, while acting as a trading center, it failed to establish, maintain and enforce written policies and procedures that were reasonably designed to prevent trade-throughs of protected quotations in national market system (NMS) stocks when it executed these orders internally but failed to simultaneously send intermarket sweep orders (ISOs) to one or more markets displaying protected quotations in that stock.

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Article: The Truth About Naked Short Selling Commentary

Article - Media

The Truth About Naked Short Selling: Commentary

John Olagues

Investopedia, 25 June 2019

The basic form of short selling is selling stock that you borrow from an owner and do not own yourself. In essence, you deliver the borrowed shares. Another form is to sell stock that you do not own and are not borrowing from someone. Here you owe the shorted shares to the buyer but “fail to deliver.” This form is called naked short selling.

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Release: Merrill Lynch Commodities Inc. Enters into Corporate Resolution and Agrees to Pay $25 Million in Connection with Deceptive Trading Practices Executed on U.S. Commodities Markets

Release

Merrill Lynch Commodities Inc. Enters into Corporate Resolution and Agrees to Pay $25 Million in Connection with Deceptive Trading Practices Executed on U.S. Commodities Markets

DOJ, 25 June 2019

Merrill Lynch Commodities Inc. (MLCI), a global commodities trading business, has agreed to pay $25 million to resolve the government’s investigation into a multi-year scheme by MLCI precious metals traders to mislead the market for precious metals futures contracts traded on the Commodity Exchange Inc. (COMEX), announced Assistant Attorney General Brian A. Benczkowski of the Justice Department’s Criminal Division and Assistant Director in Charge William F. Sweeney Jr. of the FBI’s New York Field Office.

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Fined: Windsor Street Capital, LP fka Meyers Associates, L.P Fined by FINRA

Fined

Windsor Street Capital, LP fka Meyers Associates, L.P Fined by FINRA

25 June 2019

An Office of Hearing Officers (OHO) decision became final in which the firm was expelled from FINRA® membership, fined $1,000,000, ordered to pay $61,559.02, plus interest, in restitution to customers and ordered to pay disgorgement in the amount of $256,550. Rodriguez was barred from association with any FINRA member in all capacities.

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Fined: Crown Capital Securities, L.P. Fined by FINRA

Fined

Crown Capital Securities, L.P. Fined by FINRA

20 June 2019

An AWC was issued in which the firm was censured and fined $75,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to establish and maintain a supervisory system, including WSPs, for reviewing and monitoring mutual fund switches reasonably designed to achieve compliance with FINRA suitability requirements and failed to reasonably supervise short-term switches of Class A mutual fund shares conducted by two firm registered representatives.

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Fined: Citigroup Global Markets Inc. Fined by FINRA (June 2019)

Fined

Citigroup Global Markets Inc. Fined by FINRA (June 2019)

20 June 2019

An AWC was issued in which the firm was censured, fined $225,000 and ordered to pay $152,488.59, plus interest, in restitution to customers, which the firm has already paid. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to identify and apply sales charge discounts to certain eligible purchases of unit investment trusts (UITs). The findings stated that this resulted in customers paying excessive sales charges of $152,488.59.

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Fined: Edward D. Jones & Co., L.P. Fined by FINRA

Fined

Edward D. Jones & Co., L.P. Fined by FINRA

19 June 2019

An AWC was issued in which the firm was censured, fined $40,000, and ordered to certify in writing that it has reviewed its systems, policies and procedures, written or otherwise, governing its review, analysis and disclosure of alleged damages in customer complaints and that it has established and implemented systems, policies and procedures, written and otherwise, governing the review, analysis and disclosure of alleged damages in customer complaints that are reasonably designed to achieve compliance with applicable FINRA rules and by-laws.

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Article: Merrill Lynch faces sanctions for extreme scalping role in Korea

Article - Media

Merrill Lynch faces sanctions for extreme scalping role in Korea

Yoo Joon-ho, Lee Eun-joo

Pulse, 18 June 2019

U.S. brokerage Bank of America Merrill Lynch is facing possible disciplinary action from South Korea’s stock exchange authority for its alleged role in market-disrupting high-frequency trading on behalf of U.S. Citadel Securities.

Korea Exchange, the country’s stock exchange operator, said on Tuesday that it will convene a market monitoring committee on Wednesday to determine the level of punishment against Merrill Lynch. The action may include warnings, stern warnings and financial penalties.

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Release: SHAREHOLDER ALERT Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Momo Inc. of Class Action Lawsuit and Upcoming Deadline – MOMO

Release

SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in Momo Inc. of Class Action Lawsuit and Upcoming Deadline – MOMO

17 June 2019

Pomerantz LLP announces that a class action lawsuit has been filed against Momo Inc. (“Momo” or the “Company”) (NASDAQ: MOMO) and certain of its officers. The class action, filed in United States District Court, for the Southern District of New York, and indexed under 19-cv-04433, is on behalf of a class consisting of all persons and entities who purchased or otherwise acquired Momo securities between April 21, 2015 and April 29, 2019, both dates inclusive (the “Class Period”), seeking to recover damages caused by Defendants’ violations of the federal securities laws and to pursue remedies under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and Rule 10b-5 promulgated thereunder, against the Company and certain of its top officials.

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Fined: U. S. Boston Capital Corporation Fined by FINRA

Fined

U. S. Boston Capital Corporation Fined by FINRA

10 June 2019

An AWC was issued in which the firm was censured, fined $125,000 and required to review and revise, as necessary, its systems, policies and procedures regarding consolidated reports, and certify that those systems, policies and procedures are reasonably designed to achieve compliance with the applicable FINRA rules. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to establish and maintain a supervisory system and failed to establish, maintain and enforce WSPs, reasonably designed to achieve compliance with applicable securities laws, regulations and FINRA rules regarding registered representatives’ creation and use of consolidated reports.

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Fined: Ross, Sinclaire & Associates, LLC Fined by FINRA

Fined

Ross, Sinclaire & Associates, LLC Fined by FINRA

10 June 2019

An AWC was issued in which the firm was censured and fined $200,000. Without admitting or denying the findings, the firm consented to the sanctions and to the entry of findings that it failed to disclose material facts while assisting with the preparation and circulation of a confidential information memorandum (CIM) to accredited investors for a private placement of notes.

Read full report.

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