Investor Arbitration Claims Blog

Published on: November 5, 2018

Did You Lose Money With Atlanta, Georgia Stockbroker Sean Kelly

On October 25, 2018, the SEC obtained a court order to halt the alleged fraudulent actions of a registered stock broker and his companies.

The complaint by the SEC states that Sean Kelly used his companies, Lion’s Share Financial of East Cobb, Inc., Lion’s Share and Associates, Inc., and Lion Share Tax Services, LLC, to raise $1 million from a variety of investors. There were 12 investors, which included retirees. Kelly promised he would invest their funds into different investment products, but his promise was a lie. Instead of investing their funds into private placements and real estate, he used it on his own personal expenses. He continued to steal their money after receiving a SEC subpoena, and didn’t show up to his scheduled testimony. He used their money to buy Super Bowl tickets, expensive vacations, and also for cash withdrawals. The SEC alleges that Kelly has engaged in this fraud scheme since 2014, when he was still affiliated with Capital Financial Services.

Kelly was a representative of Center Street Securities from August 2017 to October 2018. He worked with Capital Financial Services from August 2012 to August 2017 in Marietta, Georgia. His records show that he filed for bankruptcy twice, in 2009 and in 2014.

Published on: July 23, 2018

SHAREHOLDER ALERT: Silver Law Group Notifies Investors of Class Action Lawsuit Against Akers Biosciences, Inc. (Nasdaq: AKER)

by Silver Law Group

Silver Law Group, a securities and investment fraud law firm announces that a class action lawsuit has been commenced in the United States District Court for the District of New Jersey on behalf of purchasers of Akers Biosciences, Inc. (Nasdaq: AKER) (“Akers” or the “Company”) securities during the period between May 15, 2017 and June 5, 2018, inclusive (the “Class Period”). Investors who wish to serve as a lead plaintiff in the litigation have until August 13, 2018 to seek appointment as lead plaintiff.

The complaint accuses the defendants of violations of the Securities Exchange Act of 1934 by virtue of the defendants’ failure to disclose during the Class Period that Akers was improperly recognizing revenue for the fiscal year ended December 31, 2017, and it downplayed weaknesses in its internal controls over financial reporting.

According to the complaint, following a May 21, 2018 filing disclosing the Company’s continuing review of certain revenue recognition items, a May 29, 2018 press release announcing that a director had resigned, and a June 5, 2018 filing stating the previously filed Form 8-K made false statements regarding the director, the value of Akers shares declined significantly.

Published on: June 21, 2018

Silver Law Group Issues Informative Videos for Victims of the First Nationale Solution – Perry Santillo Jr. Ponzi Scheme

by Silver Law Group

Silver Law Group is currently representing investors who have been victims to Perry Santillo Jr. and his associates’ alleged $102 million Ponzi scheme. Silver Law Group continues to investigate claims against Santillo and his associates’ businesses, including:

First Nationle Solution;
Percipience Global Corporation; and

Published on: June 20, 2018

Silver Law Group is Representing Investors in the $102 Million First Nationle Solution, LLC Ponzi Scheme

by Silver Law Group

On June 19, 2018, the Securities and Exchange Commission (the “SEC”) shut down a $102 million Ponzi scheme and charged five (5) individuals and three (3) businesses with various securities laws violations.

The massive Ponzi scheme’s alleged orchestrators were all formerly registered with FINRA and employed by FINRA-registered firms, according to the SEC complaint. The following individuals were named in the SEC’s complaint:

Perry Santillo Jr.;

Published on: May 14, 2018

Menlo Therapeutics (“MNLO”) I.P.O. Losses

by Silver Law Group

In January 2018, Menlo Therapeutics went public issuing over 8,000,000 shares of common stock at a public offering price of $17.00 raising over 125 million dollars. NASDAQ lists Menlo’s stock under the ticker symbol “MNLO.”

CRD#811491

Silver Law Group is investigating Charlotte, North Caroline-based UBS Financial Services broker Samuel Rankin following a customer complaint alleging unsuitable investment recommendations.