Securities Law News

Tenant-in-Common (TIC) 1031 Securities Claims

The failure of securities salespersons and their firms to perform due diligence on the TIC deals they recommend, and on the sponsors of the TIC deals, can result in disastrous outcomes for their customers.

McLeod Ponzi Scheme Preys on Government Employees

The SEC filed an Emergency Complaint on June 24, 2010 against the Estate of Kenneth Wayne McLeod, F&S Asset Management Group, and Federal Employee Benefits Group, alleging that Mr. McLeod engaged in a ponzi scheme.

Medical Capital Charged With Fraud

The SEC alleges that Medical Capital paid out 24% of investor funds as administrative fees and engaged in sham intercompany transactions to pay back principal and interest to investors in prior offerings.

Provident Royalties / Shale Royalties charged with fraud by SEC

Provident Royalties, LLC and many related entities have been charged with engaging in a $485 million offering fraud and orchestrating a ponzi scheme.

Auction Rate Securities

Auction Rate Securities (ARS), often sold as liquid cash equivalents, have become a major problem for investors due to the failures of the auctions and the inability of investors to access their funds.

Schwab YieldPlus

Was the Schwab YieldPlus fund “smart alternative for your cash” or “one of the more spectacular meltdowns in mutual fund history”?

Universal Lease and Timeshare Claims

Greco & Greco is currently pursuing claims involving Resort Holdings International, Yucatan Resorts, Majesty Travel, Avalon Resorts, and/or Phantasy Travel.

Schwab YieldPlus Losses

Was the Schwab YieldPlus fund a “smart alternative for your cash” or “one of the more spectacular meltdowns in mutual fund history”?

In a decline that has been described as “one of the more spectacular meltdowns in mutual fund history” by this San Francisco Chronicle article, the Schwab YieldPlus fund has declined by over 25% this year. 

The Schwab Yield Plus fund was supposed to be an ultra short term bond fund which was a “smart alternative for your cash,” but investors who expected the safety of a money market fund have suffered significant damages.  As shown by this Morningstar report, the fund invested almost 50% of its assets in mortgage related securities.

Investors who invested in the Schwab YieldPlus fund expecting a cash or money market alternative and subsequently lost a portion of their savings should contact an attorney to discuss their legal options.  Greco & Greco is a law firm experienced in filing arbitration claims against brokerage firms based on misrepresentations, omissions, securities fraud, and other wrongful conduct.

We are currently representing clients who suffered losses in the Schwab Yieldplus funds, and reviewing potential claims of other Schwab customers.