Posted On: August 25, 2010

Montana Regulator Sues Securities America over Medical Capital

Earlier this month the Montana Commissioner of Securities sued Securities America and some of its executives over the sale of Medical Capital, a failed private placement accused of being a Ponzi scheme. Montana is the second state to sue Securities America on its sale of these risky and speculative investments. See Massachusetts Securities Regulators Have Sued Securities America, Inc. for Securities Fraud.

According to the Montana Order, Securities America was the placement agent for the sale of Medical Capital and sold nearly 40% of the total Medical Capital notes nationwide since 2003, amounting to a total of $697 million. The Order alleges that due diligence analyst reports were issued each year warning Securities America about a number of material risks concerning the Medical Capital investments and “strongly recommended” that investors be provided with a disclosure of those risks. According to the Order, “Securities America concealed these risks” and “withheld material information regarding heightened risks associated with the [Medical Capital] promissory notes” from its brokers and clients. These risks included Medical Capital’s lack of audited financials.

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Posted On: August 25, 2010

Blum & Silver Representing Investors in ProShares and other Exchange Traded Funds (ETFs)

Blum Law Group is representing investors who were recommended and sold ProShares Funds and other ETFs by their brokers. These funds have subjected investors to substantially more risk than was disclosed and resulted in enormous losses by investors. These leveraged ETFs include but are not limited to the following ProShares Funds in which investors have suffered substantial losses:

o ProShares UltraShort Russell MValue ETF (SJL)
o ProShares UltraShort Russell 2000 (SKK)
o ProShares UltraShort Real Estate ETF (SRS)
o ProShares Ultra Financials ETF (UYG)
o ProShares UltraShort Dow 30 ETF (DXD)
o ProShares UltraShort Financials ETF (SKF)
o ProShares UltraShort FTSE/Xinhua 25 ETF (FXP)
o ProShares UltraShort Gold ETF (GLL)
o ProShares UltraShort DJ-AIG Crude Oil ETF (SCO)
o ProShares UltraShort Oil & Gas ETF (DUG)
o ProShares UltraShort MSCI Emerging Markets

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