Legal Question in Securities Law in New York
Forcing SIPC to Protect Investors Who Were Customers of Meyers Pollock Robbins,
The President and Broker/Dealers of Meyers Pollock Robbins, Inc. pleaded guilty to stealing, unauthorized trading, misrepresenting of stock, pumping and dumping, Enterprise Corruption, etc. They started prison sentences handed down by an Acting Justice of the New York Supreme Court ranging from 6 to 25 years, 1to 3 years comencing last June and July.
SIPC in its newest brochure, produced as a result of the ranking democrat on the House Commerce Committee, that they protect customers (investors) in cases of stealing after Heebner won a Law Suit against them and started protecting customers in cases of unauthorized trades after a great deal of proding by the SEC in 1996.
We need to organize a class action suit for 18,000 investors involving $176,000,000 against SIPC. They refused to liquidate MPR in 2001. The Congressional Act that set SIPC up made them a private, nonprofit corporation with the power to sue and be sued. I think the right law firm could win this case. Lawyers have been having success in suits against SIPC.
Can you point us to a Legal firm that knows Securities Law that would be willing to tackle the SIPC in a law suit?
3 Answers from Attorneys
Re: Forcing SIPC to Protect Investors Who Were Customers of Meyers Pollock Robbi
Call Robert Lax at Lax & Associates--he has excellent track record in securities class actions. 212.818.9150
Re: Forcing SIPC to Protect Investors Who Were Customers of Meyers Pollock Robbi
I recall hearing about this matter last year. You should have a strong securities class action, but you will want to move quickly to preserve certain claims. I would be happy to discuss the matter with you in more detail if you would like. Very truly yours.
Re: Forcing SIPC to Protect Investors Who Were Customers of Meyers Pollock Robbi
Your question assumes much in the way of facts that are stated without detail or explanation. The gist: Is your complaint that SIPC committed some sort of negligent act by failing to liquidate MPR? Is there any other duty of which you know that SIPC owes to investors? Also, this does not seem to me to be -- on the limited facts you mention -- governed by the federal securities laws, since, as I understand matters, SIPC neither sold or assisted in the sale of securities -- is this correct?
For the type of issues you raise, this forum is simply ill-equiped. You should feel free to contact me if you would like to discuss these issues in some detail.
-- Kenneth J. Ashman; 156 West 56th Street, Suite 1902; New York, NY 10019; [email protected]; www.lawyers.com/alo
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