January 27, 2010

A Big Week for Securities America

Just days after Securities America’s CEO announced his upcoming retirement, the Massachusetts Security Division filed a complaint against the broker-dealer claiming it misled investors. According to the complaint, Securities America forgot to mention some pretty important info when it sold $697 million in promissory notes issued by Medical Capital Holdings as private-placement securities. Securities America officials deny the charges and claim the CEO change-out is unrelated… Stay tuned for the next installment of saga and read more details in Investment News here. http://www.investmentnews.com/apps/pbcs.dll/article?AID=/20100126/FREE/100129909/1094/INDaily01

Jan 27, 2010 2:01:53 PM

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