From the Securities Arbitration Blawg:
InvestmentNews recently pubished two articles discussing recently filed securities disputes.
First, on August 19, Jeff Benjamin and Sue Asci reported that NBA star Carmelo Anthony filed a lawsuit in federal court against California adviser Larry W. Hamilton. The claim alleges that the adviser transferred $1.75 million of Mr. Anthony’s assets and invested an additional $265,000 with other companies without consent. The complaint seeks an accounting of the adviser’s books and records, $2 million in compensatory damages, and punitive damages. Mr. Anthony is represented by Robert Hirsch of Beverly Hills, California.
On August 20, Sara Hansard reported that a Freeport, Bahamas couple had filed a securities arbitration claim against Merrill Lynch. According to the article, the claim alleges that Merrill Lynch invested the couple’s money in unsuitable preferred stocks issued by financial companies.