Corporate & Commercial

Atlas Shrugged.” Ayn Rand, 1957. “Jesus wept.” John 11:35. “Mandamus lied.” Synopsis, State v. Walker, 679 S.W.2d 484 (Tex. 1984). (H/T to Ben Taylor for showing this one to me!) The post “West joked.” appeared first on 600 Camp.…
South Carolina Financial Advisor Named in Five Pending Customer Disputes Cetera Advisors Network registered representative, Ronald Franklin Metcalf, Jr, is named in five pending customer disputes in which the claimants are seeking more than $6.5M in financial recovery.  All of them accuse Metcalf of failing to supervise other registered representatives while he was a Voya Financial Advisors broker. Two of those Financial Industry Regulatory Authority (FINRA) arbitration cases resulted in huge settlements, including one for $3.5M.   Continue Reading › The post Ex-Voya Financial Advisors Broker Ronnie Metcalf Faces Over $6.5M in Current Customer Disputes appeared first on Investor Lawyers
Forby v. One Technologies presented the unusual situation of an arbitration waiver by the defendant, followed by an arbitration waiver the plaintiff as to a newly asserted claim: “We again address a class action claiming that One Technologies, L.P. (“One Tech”), duped consumers into signing up for ‘free’ credit reports that were not really free. The last time around, we ruled One Tech waived its right to arbitrate the plaintiffs’ state-law claims. Forby v. One Technologies., 909 F.3d 780 (5th Cir. 2018) [hereinafter Forby I]. Now, we consider whether One Tech also waived its right to arbitrate federal claims…
Despite the defeat of the Moorish armies in 732 by Charles Martel at the Battle of Tours (right), the appellants in Luminant Mining Co. v. PakeyBey asserted rights as cotenants to certain real property in East Texas as “’Moorish Americans’ who are ‘sovereign freemen under the Republic . . . .’” The Fifth Circuit affirmed judgment for the appellees, concluding: “[T]the PakeyBey parties contend that Luminant failed to demonstrate hostile possession vis-à-vis its cotenants. They assert that the record is devoid of evidence of actual notice of repudiation of the common title. They further contend that Luminant cannot show constructive…
“‘”Breach’” of a contract occurs when a party fails to perform an act that it has contractually promised to perform.’ Under terms of the agreement, Hinojosa merely agreed to allow the first $258,996.16 in proceeds from the sale to go to LaFredo with any remaining proceeds to be split between them. LaFredo does not identify any action taken by Hinojosa that precluded him from receiving any of the proceeds from the sale. To the contrary, the record before us suggests LaFredo received all the available proceeds, used a portion to pay for the Canton Street condominium, and signed a settlement…
Raymond James Broker Made Unsuitable Recommendation That Led To Northstar Financial Bermuda Losses Shepherd Smith Edwards and Kantas (SSEK Law Firm at investorlawyers.com) will be filing yet another Financial Industry Regulatory Authority (FINRA) arbitration claim against a brokerage firm for unsuitably recommending Northstar Financial Services (Bermuda) products to a customer.  This time, the broker-dealer that we are pursuing for damages is Raymond James Financial Services. One of the firm’s financial advisors unsuitably marketed and sold this off-shore entity’s annuities through the United Nations Federal Credit Union (UNFCU). Continue Reading › The post SSEK Law Firm to File Northstar Financial Services
After a supreme court opinion earlier this year, the Fifth Court revisited the question whether PNC’s effort to foreclose a subrogation lien claim was time-barred. It held: Accrual. Recognizing that “Texas case law gives conflicting answers to this issue,” the Court concluded that “the correct result is the one first reached by Kone in 1927. The lender’s cause of action to enforce its subrogation lien rights accrues on the date the refinancing loan matures.” (citing Kone v. Harper, 297 S.W. 294 (Tex. App.–Waco 1927, aff’d, 1 S.W.2d 857 (Tex. Comm’n App. 1928)). Limitations period.  The Court applied the four-year statute that governs…
GPB Sells Remaining Prime Automotive Group Dealerships to Group 1 Automotive According to a regulatory filing submitted on September 13th, 2021, the private equity firm is selling all of its Prime Automotive car dealerships to Group 1 Automotive Inc. for $880M. The sale includes GPB Automotive Portfolio’s remaining 30 stores and three collision repair shops.  GPB Auto is one of the alternative asset firm’s largest funds, and it has been selling car dealerships since at least 2018 when it owned 52 of them. It is one of the largest GPB funds and has reported huge losses.  Continue Reading › The…