Category Archives: Wachovia

FINRA Fines Wells Fargo $2 Million for Unsuitable Sales of Reverse Convertibles to Elderly Customers and Failure to Provide Breakpoints on UIT Sales

Posted on December 15, 2011 by Klayman & Toskes

The Financial Industry Regulatory Authority (FINRA) announced today that it has fined Wells Fargo Investments, LLC, $2 million for unsuitable sales of reverse convertible securities through one broker to 21 customers, and for failing to provide sales charge discounts on … Continue reading →

Posted in Enforcement, FINRA, UITs, Wachovia, Wells Fargo | Leave a comment

SEC Charges Wachovia With Fraudulent Bid Rigging in Municipal Bond Proceeds

Posted on December 9, 2011 by Klayman & Toskes

Wachovia Agrees to $148 Million Settlement With SEC and Other Authorities On December 8, 2011, the Securities and Exchange Commission charged Wachovia Bank N.A. with fraudulently engaging in secret arrangements with bidding agents to improperly win business from municipalities and … Continue reading →

Posted in Enforcement, Fraud, SEC, Wachovia | Leave a comment

The Securities Arbitration Law Firm of Klayman & Toskes Encourages All Class Members Who are Eligible To Participate in the Settlement of the Wachovia Preferred Securities and Bond/Notes Litigation To Explore All Of Their Legal Options

Posted on August 9, 2011 by Klayman & Toskes

The Securities Arbitration Law Firm of Klayman & Toskes, P.A. (“K&T”), announced today that a global settlement has been reached with all defendants in the class action lawsuit, In re: Wachovia Preferred Securities and Bond/Notes Litigation, Case No. 09-cv-06351, on … Continue reading →

Posted in Arbitration, Bonds, Class Action, Class Action Opt-Out, Collateralized Debt Obligations, Collateralized Mortgage Obligations, FINRA, Investor Alert, Misrepresentation, Mortgage-backed securities, Notes, Omission, Wachovia, Wells Fargo | Leave a comment