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Los Angeles Legal Issues Blog

Barriers remain for women in the financial industry

While there have been improvements in gender equity in the financial field, the industry still has a long way to go. For one, while there have been increases in women in higher level positions in finance, the very top remains highly male-dominated.

Also, women continue to face a lot of challenges within the industry that their male colleagues generally do not. An article on Financial Advisor’s website noted some of the biases that women still commonly face in finance workplaces. These include:

Federal fraud indictment for ex-state assemblyman

Ex-State Assemblyman Terrence Patrick Goggin served as CEO of Metropolitan Coffee & Concessions (MC2), which ran a chain of Peet's Coffee & Tea shops located in BART stations in the bay area. Now he faces a grand jury indictment for fraud charges, including wire fraud and money-laundering.

The basics of elder financial abuse

Elder financial abuse is a serious problem. When organizations target the elderly they are taking advantage of people who are more susceptible to scams.

It's an issue that affects everyone. Whether you are a target yourself, have elderly family members or may be aging into the group that is often targeted, the financial consequences of a scam can be devastating.

Sexual harassment suit dropped after hedge fund countersues

A former CFO for Snow Park Capital Partners accused the CEO of sexual harassment, but withdrew her suit after the hedge fund countersued alleging she had embezzled money. Kate Merli, former CFO, had accused CEO Jeffrey Pierce of multiple instances of sexual harassment.

Important Tips For Recognizing Broker Misconduct

The value of investments may rise and fall in the market. Not all losses in the stock market or other forms of investment mean that something nefarious is going on. However, stock broker fraud and brokerage firm misconduct can lead to devastating losses for investors. In many ways, proving misconduct for an individual investor may seem daunting. For instance, an investment may be suitable for one investor who has a higher tolerance for investment risk. That same investment may be highly inappropriate for someone else.

While it may seem difficult for individual investors to determine whether losses tied to an investment show that misconduct may be involved in the transaction, there are some common red flags investors may look for to determine whether it is time to speak with an aggressive securities law attorney.

FINRA Creates New Elder Financial Abuse Rules

Financial exploitation of the elderly is a common - and well-known - problem. The Securities Industry and Financial Markets Association estimates that one out of five individuals over the age of 65 has suffered financial exploitation. Only a small percentage of the cases are ever reported. Some victims are not aware of the abuse. In some situations, spouses of seniors, adult children of elderly individuals or close friends may have suspicions of financial exploitation. However, professionals, such as accountants or other advisors may detect financial mistreatment.

In February, Financial Industry Regulatory Authority issued two new rules in an effort to protect seniors from financial abuse in securities transactions. Brokers, financial advisors and brokerage firms are expected to make reasonable efforts to acquire the name and contact information of an individual that the senior trusts. The regulation aimed at seeking a trusted contact applies to situations when professionals are opening a new account for a senior, or when financial professionals are updating an existing account with a senior client.

Girard Bengali, APC & Wigdor, LLP Sue Uber Technologies

Los Angeles, California, November 21, 2017 - On behalf of their client, Jane Doe, Robert J. Girard II and Omar Bengali, Partners at Girard Bengali, APC and Jeanne M. Christensen, Partner at Wigdor LLP, filed a lawsuit against Uber Technologies, Inc in California Superior Court. The lawsuit alleges that Ms. Doe was raped and sexually assaulted by her Uber driver, Iosefo Auvaa, during an Uber ride in Long Beach, California on November 11, 2016. (BC683524)

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