Feb 28, 2020 | Consumer Protection, Employment & Technology Archive
Kehoe Law Firm, P.C. is making consumers aware of the following Telephone Consumer Protection Act (“TCPA”) class action lawsuit filing:
Charter Communications, Inc.
Class action lawsuit filed against Charter Communications, Inc. in United States District Court for the District of Connecticut “to stop [Charter Communications’ alleged] practice of making unsolicited debt collection robocalls to the telephones of consumers nationwide, and to obtain redress for all persons injured by Defendant’s conduct.”
According to the class action complaint, Charter Communications has “us[ed] an automatic telephone dialing system . . . and/or prerecorded voice without [Plaintiff’s] prior consent,” in order “to collect a debt from someone who is not [the Plaintiff].” The Plaintiff was, allegedly, called on her cellular telephone multiple times from (866) 914-5806.
Do You Believe You Are a Victim of Illegal Robocalls, Text Messages, “Junk” Faxes or Telemarketing Sales Calls?
If you have received illegal robocalls, text messages, “junk” faxes or telemarketing sales calls, you may be able to recover at least $500 for each illegal call, text or fax you received and, possibly, as much as $1,500 for each illegal call, text message or facsimile that was made either willfully or knowingly in violation of the Telephone Consumer Protection Act.
To help evaluate your potential legal claims under the Telephone Consumer Protection Act, please complete KLF’s confidential Robocall Questionnaire or, if you prefer to speak with an attorney, please complete the form above on the right, e-mail [email protected] or contact Michael Yarnoff, Esq., [email protected], (215) 792-6676, Ext. 804, for a free, no-obligation evaluation of your potential legal rights.
Feb 28, 2020 | Consumer Protection, Employment & Technology Archive
Settled Charges Against Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network
Kehoe Law Firm, P.C. is making investors aware that on February 27, 2020, the SEC announced settled charges against Wells Fargo Clearing Services and Wells Fargo Advisors Financial Network for failing reasonably to supervise investment advisers and registered representatives who recommended single-inverse ETF investments to retail investors, and for lacking adequate compliance policies and procedures with respect to the suitability of those recommendations. The SEC ordered Wells Fargo to pay a $35 million penalty, which will be distributed to harmed investors.
As reflected in the SEC’s order and Wells Fargo’s internal guidance, when single-inverse ETFs are held for longer than a day, particularly in volatile markets, investors may experience large and unexpected losses. The SEC’s order finds that from April 2012 through September 2019, Wells Fargo’s policies and procedures were not reasonably designed to prevent and detect unsuitable recommendations of single-inverse ETFs. Additionally, Wells Fargo failed to adequately supervise its employees’ recommendations regarding single-inverse ETFs, and did not adequately train them concerning those products. The order finds that some Wells Fargo brokers and advisers did not fully understand the risk of losses these complex products posed when held long term. As a result, certain Wells Fargo investment advisers and registered representatives made unsuitable recommendations to certain clients to buy and hold single-inverse ETFs for months or years. According to the order, a number of these clients were senior citizens and retirees who had limited incomes and net worth, and conservative or moderate risk tolerances.
The SEC’s order finds that Wells Fargo failed to adopt written compliance policies and procedures reasonably designed to prevent unsuitable recommendations of single-inverse ETFs, and failed adequately to implement its existing written policies and procedures. The order also finds that Wells Fargo failed reasonably to supervise its financial professionals with a view to preventing their unsuitable recommendations. Without admitting or denying the findings, Wells Fargo agreed to pay a $35 million penalty and distribute the funds to certain clients who were recommended to buy single-inverse ETFs and suffered losses after holding the positions for longer periods. The order also censures Wells Fargo and requires Wells Fargo to cease and desist from committing or causing any future violations of the relevant provisions.
Source: SEC.gov
Feb 28, 2020 | Shareholder & Investor Protection
SEC Charges SCANA Corp., Two Former SCANA Top Executives, and SCE&G With Defrauding Investors
Kehoe Law Firm, P.C. is making investors aware that on February 27, 2020, the SEC announced that it charged SCANA Corp., two of its former top executives, and South Carolina Electric & Gas Co. (SCE&G), now known as Dominion Energy South Carolina Inc., with defrauding investors by making false and misleading statements about a nuclear power plant expansion that was ultimately abandoned.
The SEC’s complaint alleges that SCANA, its former CEO Kevin Marsh (“Marsh”), former Executive Vice President Stephen Byrne (“Byrne”), and subsidiary SCE&G misled investors about a project to build two nuclear units that would qualify the company for more than $1 billion in tax credits. According to the complaint, the defendants claimed that the project was on track even though they knew it was far behind schedule, making it unlikely to qualify for the tax credits. The SEC’s complaint also alleges one SCANA executive said that officers of the company “flew around the country showing the same . . . construction pictures from different angles and played our fiddles” while the project itself “was going up in flames.” SCANA abandoned the project in mid-2017 with neither nuclear unit completed. The SEC’s complaint alleges that the false statements and omissions enabled SCANA to boost its stock price, sell more than $1 billion in bonds, and obtain regulatory approval to raise customers’ rates to finance the project.
The SEC’s complaint charges SCANA, SCE&G, Marsh, and Byrne with violations of the antifraud provisions of the federal securities laws, and charges SCANA, SCE&G, and Marsh with reporting violations. The complaint seeks a permanent injunction, return of allegedly ill-gotten gains along with prejudgment interest, and financial penalties from all defendants, and an officer and director bar against Marsh and Byrne.
Source: SEC.gov
Feb 28, 2020 | Consumer Protection, Employment & Technology Archive
Kehoe Law Firm, P.C. is making consumers aware of the following Telephone Consumer Protection Act (“TCPA”) class action lawsuit filing:
JPMorgan Chase & Co.
Class action lawsuit filed on February 27, 2020 against JPMorgan Chase & Co. in United States District Court, Southern District of Florida, for, allegedly, “solicit[ing] consumers for its AARP Credit Card” with “unsolicited prerecorded message marketing with no regard for privacy rights of the recipients of those messages.”
According to the complaint, JPMorgan Chase & Co. “placed a prerecorded message call to Plaintiff’s cellular telephone number” from (800) 283-1211 “to promote [JPMorgan Chase & Co.’s] AARP Credit Card.” The complaint alleges that “[a]t no point in time did Plaintiff provide Defendant with [Plaintiff’s] express written consent to be contacted with marketing or promotional prerecorded messages on [Plaintiff’s] cellular telephone.”
Do You Believe You Are a Victim of Illegal Robocalls, Text Messages, “Junk” Faxes or Telemarketing Sales Calls?
If you have received illegal robocalls, text messages, “junk” faxes or telemarketing sales calls, you may be able to recover at least $500 for each illegal call, text or fax you received and, possibly, as much as $1,500 for each illegal call, text message or facsimile that was made either willfully or knowingly in violation of the Telephone Consumer Protection Act.
To help evaluate your potential legal claims under the Telephone Consumer Protection Act, please complete KLF’s confidential Robocall Questionnaire or, if you prefer to speak with an attorney, please complete the form above on the right, e-mail [email protected] or contact Michael Yarnoff, Esq., [email protected], (215) 792-6676, Ext. 804, for a free, no-obligation evaluation of your potential legal rights.
Feb 28, 2020 | Whistleblower
SEC Awards More Than $7 Million to a Whistleblower – Whistleblower’s Information and Assistance Deemed Critical to The Success of an Enforcement Action
On February 28, 2020, the Securities and Exchange Commission announced an award of more than $7 million to a whistleblower whose information and assistance were critically important to the success of an enforcement action. The whistleblower, according to the SEC, provided extensive and sustained assistance, such as identifying witnesses.
The SEC has awarded approximately $394 million to 73 individuals since issuing its first award in 2012. All payments are made out of an investor protection fund established by Congress that is financed entirely through monetary sanctions paid to the SEC by securities law violators. No money has been taken or withheld from harmed investors to pay whistleblower awards. Whistleblowers may be eligible for an award when they voluntarily provide the SEC with original, timely, and credible information that leads to a successful enforcement action. Whistleblower awards can range from 10 percent to 30 percent of the money collected when the monetary sanctions exceed $1 million.
As set forth in the Dodd-Frank Act, the SEC protects the confidentiality of whistleblowers and does not disclose information that could reveal a whistleblower’s identity.
Source: SEC.gov
Do You Have Questions or Concerns About Providing Information to the SEC About Securities Fraud?
If so, please know that Kehoe Law Firm’s legal team understands the issues associated with making the difficult decision to voluntarily come forward with information about securities fraud or other wrongdoing. Moreover, the Firm’s legal staff has extensive experience investigating and prosecuting fraud, as well as interacting with sources of information, especially brave, honest individuals who are willing to expose fraud committed against the United States government.
If you have questions or concerns about voluntarily providing information as a whistleblower to the SEC about violations of the federal securities laws, including questions about whistleblower award eligibility or the form and manner in which the information is required to be provided to the SEC, please contact Kehoe Law Firm, P.C. by completing the form above on the right or sending an e-mail to [email protected]. If you prefer to speak privately with an attorney, please contact either Michael Yarnoff, Esq., [email protected], (215) 792-6676, Ext. 804, or John Kehoe, Esq., [email protected], (215) 792-6676, Ext. 801.
