In a recent PR Newswire article, the fact that winning awards in court from fraudulent investment banking companies may not necessarily guarantee that you collect on those awards was exposited. An investor won a case against Sands Brothers, which has now pulled out of the NYSE and moved to the UK, where they have adopted the name Laidlaw & Company. This company left the US because a ubiquity of fraud cases were being brought against it, and they were being forced to mete out multiple awards. Some clients who deserved an award may not have received it. One client deserved an award from Sands Brothers of more than $500,000 and barely managed to receive it. He was told to take a smaller settlement, or other investors who had lost would end up bleeding Sands Brothers Dry before this particular client could collect. The attorney advised his client not to accept a lowered settlement in this way, and though it took a few months, eventually said client did receive his full award.
Wall Street can be a dangerous place, so dangerous sometimes the U.S. Federal Court must issue restraining orders on well-known federal investment banks like Laidlaw. It’s strange to consider that even at the highest levels of financial authority, there are those who would take advantage of the public to such an extent they would even curtail remunerating their own damages in any way possible. That’s what the principals who make up Laidlaw & Company, Matthew Eitner and James Ahern, are notorious for doing; and apparently they intend to continue to doing just that thing.
Generally, it is difficult to find a trustworthy organization to handle large sums of money; investment banking definitely has many situations like this to consider. It makes sense to learn from such instances. If that is the kind of atmosphere to be expected at the very top, where can one find honest assistance in realms of financial trading?