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VelocityShares Daily Inverse VIX Short-Term ETN (NASDAQ: XIV)

After recently closing down 93 percent and shedding approximately $3 billion in value, the VIX ETN underwritten by Credit Suisse, was effectively killed.   Exercising their right to accelerate all of the outstanding ETNs, GS announced that the last day of trading for the VIX ETN will be February 20.

ETN’s like VIX are high risk are only suitable for sophisticated investors who are capable of losing their entire investment.    If you invested in VIX based upon the advice of a broker or investment advisor and you believe such may have been inappropriate for your investment needs or sold to you in a misleading way you may have the right to recover your investment losses.

The law firm of Richard A. Nervig, P.C. represents individual investors who have suffered financial losses as a result of investment fraud or misconduct, Ponzi schemes, unsuitable investment recommendations, or abusive securities sales practices.

 

If you have investment losses in VIX or any other investment in excess of $100,000 please call my office at (800) 837-0441 for a free consultation.

Woodbridge Group of Companies, L.L.C.

PRESS RELEASE  

(December 5, 2017, San Diego, CA) The securities fraud and elder financial abuse law firm of Richard A. Nervig, P.C. has launched an investigation on behalf of note, equity holders and private placement investors of the Woodbridge Group of Companies, L.L.C..    

On December 4, 2017, the Woodbridge Group of Companies, L.L.C. (“Woodbridge”) and its affiliates filed for bankruptcy in the U.S. Bankruptcy Court for the District of Delaware.  See, In re: Woodbridge Group of Companies, L.L.C., U.S. Bankruptcy Court District of Delaware, Case 17-12560-KJC.  Woodbridge has been under formal investigation from the Securities and Exchange Commission (“SEC”) since September 2016 and which is looking at the company for potential violations relating to the offer and sale of unregistered securities, the sale of securities by unregistered brokers, and the commission of fraud in connection with the offer, purchase, and sale of securities.   According to the SEC, Woodbridge has raised more than $1 billion from several thousand investors nationwide through multiple investment offerings using various forms and structures.  See, SEC v. Woodbridge Group of Companies, LLC, U.S. District Court for the Southern District of Florida, Case 1:17-mc-22665-CMA  

 

Although the SEC’s investigation and action against Woodbridge is warranted, the harsh reality is that most securities and investment scheme victims usually receive little if any meaningful recovery of funds from such actions and/or from subsequent bankruptcy proceedings filed by the issuer of the securities.     Instead, most meaningful recoveries for investors typically come from the pursuit of third party liability claims against the banks, brokers, brokerage firms and other financial service providers who may have either aided and abetted or assisted the unlawful schemes and/or who negligently failed to detect and prevent such schemes in the face of suspicious circumstances.       

If you are a Woodbridge note, equity holder or private placement investor and are interested in learning more about your legal rights and remedies, please contact Richard A. Nervig (info@nerviglaw.com) at (800) 837-0441 or (760) 451-2300. If you email, please include your phone number.  Also see our website at www.nerviglaw.com.  

 

600 West Broadway, Suite 1540 

San Diego, CA  92101

Stock Manipulation Scheme

PRESS RELEASE

(June 14, 2017, San Diego, CA) The securities fraud and elder financial abuse law firm of Richard A. Nervig, P.C. has launched an investigation on behalf of victims of the stock manipulation scheme involving shares of stock in National Waste Management Holdings, Inc. (“NWMH”), CES Synergies, Inc. (“CESX”), Grilled Cheese Truck (“GRLD”), Hydrocarb Energy Corporation (“HECC”) and Intelligent Content Enterprises, Inc. (“ICEIF”).

On July 12, 2017, the US Attorneys’ Office unsealed a nine-count indictment filed in federal court in Brooklyn, New York, against 14 defendants including San Diego resident Lawrence Isen and Tarzana California resident Robert Gleckman.

 

According to the indictment, between January 2014 and July 2017, the defendants, together with others, engaged in a $147 million scheme to defraud investors, including the elderly, in one or more of the following publicly traded companies: NWMH, CESX, GRLD, HECC, and ICEIF by artificially controlling the price and volume of traded shares in the Manipulated Public Companies through, among other things, (a) artificially generating price movements and trading volume in the shares, and (b) material misrepresentations and omissions in their communications with victim investors about the stock of the Manipulated Public Companies, relating to, among other things, the advisability of purchasing such stock.   The defendants also fraudulently concealed their control of shares of the Manipulated Public Companies that were held in brokerage accounts in the names of other individuals or entities.  See, Press Release, Department of Justice, U.S. Attorney’s Office, Eastern District of New York (7/12/2017).

 

Although the criminal prosecution of perpetrators of such schemes is certainly warranted, the harsh reality is that victims of such schemes more often than not receive little if any recovery of funds from the criminal prosecution.    Instead, most meaningful recoveries typically come from the pursuit of third party liability claims against the banks and/or brokerage firms who may have either aided and abetted the unlawful schemes and/or who negligently failed to detect and prevent such in the face of suspicious circumstances.

If you are an investor who has lost money purchasing one or more of the above stocks and are interested in learning more about your legal rights and remedies, please contact  Richard A. Nervig (info@nerviglaw.com) at (800) 837-0441 or (760) 451-2300. If you email, please include your phone number

SOURCE CAPITAL GROUP, INC. (CRD#36719)

The investor rights law firm of Richard A. Nervig, P.C. is investigating potential securities sales practice abuse claims on behalf of investors who purchased securities issued from the following companies through Source Capital Group, Inc.:

Blue Ridge Group, Inc.


2011-C Two Well Drilling Program, LP


2010/2011 Year End Drilling Program, LP

2011 Year End Drilling Program, LP


Galveston Bay Drilling Program, LP


2012 Belmont Drilling Program, LP

On October 10, 2016, the State of California Department of Business Oversight issued a Desist and Refrain Order against Source Capital Group, Inc. and the above entities alleging among other things, violations of sections 25110 and 25401 of the California Corporations Code, and that:

Respondents made, or caused to be made, misrepresentations of material fact or omitted to state material facts necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading.

See, http://www.dbo.ca.gov/ENF/pdf/2016/Blue%20Ridge%20Group%20Inc..pdf.

Securities issued by oil and gas drilling program are typically high risk investments suitable only for the most risk tolerant individuals willing to accept a total loss on their investment.  Retirees and other risk averse individuals are typically not suitable for such investments.    If you purchased an oil and gas limited partnership investment based upon the advice and recommendation of a broker and/or brokerage firm like Source Capital Group, Inc. and you believe such was not suitable for your investment needs and/or that you were not provided all information necessary for you to make an informed investment decision, my firm would like to speak to you about your investments.

To learn more about your legal rights and remedies, please contact Richard A. Nervig (info@nerviglaw.com) at 760-451-2300.  If you email, please include your phone number.

ATTENTION HOLDERS OF CANCELLED SANDRIDGE ENERGY, INC. SECURITIES

The investor rights law firm of Richard A. Nervig, P.C. has launched an investigation and is offering free initial consultations to preferred and common stock investors of Sandridge Energy, Inc. (“Sandridge”) whose shares are subject to cancellation. Sandridge filed for bankruptcy on May 16, 2016 in the U.S. Bankruptcy Court, Southern District of Texas, Case No. # 16-32488 and pursuant to the Amended Joint Chapter 11 Plan approved by the Court on October 4, 2016, preferred and common stockholders will have their interests cancelled.

On October 20, 2016, the Enforcement Section of the Massachusetts Securities Division filed an administrative complaint against a securities brokerage and broker alleging among other things that certain retiree investors had their brokerage accounts unsuitably concentrated in Sandridge stock. See, https://www.sec.state.ma.us/sct/current/sctspartanrevere/Spartan-10-20-16.pdf.

Stock interests like those issued by Sandridge are typically risky investments suitable only for the most risk tolerant individuals willing to accept a substantial loss on their investment. Retirees and other risk averse individuals are typically not suitable for such investments. If you were an investor in Sandridge securities now subject to cancellation and you purchased such based upon the advice and recommendation of a broker and/or brokerage firm and you believe the investment may not have been suitable for your investment needs and/or if you believe you were not provided all information necessary for you to make an informed investment decision, my firm would like to speak to you about your investments.

To learn more about your legal rights and remedies, please contact Richard A. Nervig (richard@nerviglaw.com) at 760-451-2300. If you email, please include your phone number.

FREE CONSULTATION
Toll Free Tel. (800) 837-0441

Email: info@nerviglaw.com

San Diego
600 West Broadway
Suite 1540
San Diego, CA 92101

Denver
1873 S. Bellaire Street
Suite 1401
Denver, CO 80222

www.nerviglaw.com

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