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Recent Cases: Medical Capital note investors recover $4.5 million from various brokerage firms |
In 2010 and 2011 Dovin Malkin & Ficken represented approximately 20 investors in individual claims arising from their investments in promissory notes issued by Medical Capital Corporation, an entity which was ultimately shut down by the Securities and Exchange Commission as a ponzi scheme. The investors were assured that the notes were safe and would pay a good return. Unfortunately, Medical Capital was using new investor money to repay interest and principal on older notes. Once Medical Capital was shut down by the SEC, all of the investors' money in the notes was lost. The investors' claims against the brokerage firms selling them the notes ranged from misrepresentation and fraud to breach of fiduciary duty and suitability. All of the investors' claims were ultimately resolved amicably with the brokerage firms. |
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