Broker Misconduct: Unsuitable Investments

Posted by on Jun 18, 2017 in Investment Fraud | 0 comments

Potential investors consult brokers because these people are the ones who know better. They study investments to check which ones can potentially grow and determine their involved risks. Of course, not because a particular investment has good potential for growth and has acceptable risks, it automatically means that it is the right investment for the potential investor.

There are a lot of other factors to consider to determine where an investor should invest his money. According to the website of Erez Law, these may include the following:

  • Financial situation
  • Investment experience
  • Room for risks
  • Liquidity
  • Condition of other investments, if there are any
  • Investment goals
  • Tax status
  • Age

If the broker has recommended a particular investment opportunity without considering that investment’s growth potential, its risk factors, and the potential investor’s financial standing, he may be committing a broker misconduct called unsuitable investments.

Suitability occurs when a potential investor’s status, such as the financial standing factors bulleted above, coincides with the investments he has made. Failing to have suitability is almost always the broker’s fault, because he is the one responsible in studying investments and determining the status of the potential investor.

Unsuitability can arise in two ways. First, it can arise because of the lack of knowledge regarding the particular investment or the potential investor’s status. Second, it can arise because of the financial advisor or broker’s incompetence, usually in the form of lack of understanding of the investment’s potentials and risks and lack of adequate financial strategies.

To guarantee suitability, it is recommended that the broker have the following:

  • Adequate knowledge of the nature, potential, and risk of the investment
  • Adequate knowledge of the potential investor’s profile, including the financial standing factors bulleted above
  • Adequate investment strategy that fits the investment and the investor’s profile
  • Full understanding of the investment strategy before recommending it

 

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Boating Accidents due to Alcohol and Other Forms of Impairing Substances

Posted by on Mar 27, 2017 in Boating Accidents | 0 comments

The five types of recreational vessels with the highest number of casualties in 2014, as per the U.S. Coast Guard’s 2014 recreational boating statistics, include:

  1. Open motorboats, with 1672 casualties (282 deaths and 1390 injuries)
  2. Personal watercraft, with 1626 casualties (34 deaths and 5920 injuries)
  3. Cabin motorboat, with 294 casualties (39 deaths and 255 injuries)
  4. Canoe/Kayak, with 256 casualties (133 deaths and 123 injuries)
  5.  Pontoon, with 114 casualties (17 deaths and 97 injuries)

Recreational boating remains to be a very popular leisure activity in the U.S. In 2012, 87.8 million American adults participated in recreational boating at least once; in 2013, the number jumped to 88 million.

With too much fun, however, some people just tend to forget about acting carefully and responsibly; this are what make exciting activities risky occasions. Worse, to make water adventure more fun, many bring not only food but intoxicating drinks (and sometimes illegal drugs) too. The bad news is, just like drinking and driving do not make a good combination, so too do drinking and boating. As reiterated by the U.S. Coast Guard, drinking alcohol while at sea can affect boat operators’ and passengers’ vision, judgment, balance and coordination faster than when it is consumed on land. This is due to the overall marine environment, which includes the sun, sea water mist or spray, wind, engine noise, vibration and motion. Thus, due to alcohol, accidents, like capsizing boats and drunken passengers falling overboard and drowning have become very common. The USCG further says that alcohol is the leading contributory factor in fatal boating accidents, as well as the leading factor in deaths in the water.

Failure to wear a life jacket, besides alcohol impairment, is another major contributing factor in fatal boating accidents. This is the same regardless of the type of vessel one is operating or riding before falling into the water – yacht, motorboat, jet ski, pontoon, canoe or kayak. And as the boating season nears, the USCG reminds all boaters to boat responsibly – part of which is wearing a life jacket and avoiding consumption of any impairing substance.

Any person who operates any type of vessel while under the influence of drugs or alcohol and causes an accident that injures another person gives this injured victim the legal right and reason to pursue a legal action against him/her. In connection to drinking and boating, thousands of people have, indeed, been injured, resulting to thousands of boat operators finding themselves in court as defendants.

According to Roseville personal injury lawyers, “It is important that you understand what your legal rights are, and determine whether you may be eligible for compensation, as a result of your injuries due the negligence or illegal action of someone else.

Through a personal injury claim, you may be able to obtain compensation for economic, as well as non-economic, damages. These damages include covering expenses for past and future medical care, physical therapy, and even lost wages from time taken from work for your recovery. Damages can also include compensation for pain and suffering, and emotional distress.”

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A Guide On How To File Storm Damage Claims

Posted by on Dec 22, 2016 in Storm Damage | 0 comments

The aftermath of a destructive storm can leave a huge problem for you. While the storm may be over, your woes may just be beginning. For most people, the end of a storm would mean the start of the rebuilding process. It is likely that the damages you incurred would be too costly for you to handle from out of your own pocket. If you have insurance, it is possible to file storm damage claims.

A Texas storm damage attorney will tell you that having insurance can provide you with the needed financial assistance for repair and replacement of your damaged home. However, the claims process can be long and tedious so you need to make sure that you process it the right way. Here are the steps on filing a storm damage claim:

1. Deal with the danger first

If there is extensive damage to your home, you need to make sure that there are no more problems when the adjuster comes to assess the damage. Issues such as gas leaks or serious flooding should be dealt with first.

2. Call your insurer

Check with your insurance provider if they are covering damage to your building and your possession. Some insurers will cover both so do check with your provider before filing a claim.

3. Take pictures

If possible, document everything with pictures or videos. They can help support your claim and remind you of your possessions as well. Keep damaged carpets, skirting boards, and architraves to show their quality.

4. Look for alternative accommodation

Your insurance provider may be offering some kind of accommodation options in case it is impossible to stay at your home. You might be able to get some discounts from partner hotels. Make sure that you have already cleared it with your insurer before booking any hotel.

5. Arrange damage assessment

When there is substantial damage to your property and the claim will be significant, the insurance company will usually send a loss adjuster to inspect the damage to your property.
Following these steps will help ensure that your claim will be successful.

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Belladonna, the Only Reason Behind Hyland’s Woes

Posted by on Oct 25, 2016 in Hyland's Teething Tablet Lawsuit | 0 comments

As claimed by Hyland’s in its website, “The amount of Belladonna alkaloids in teething tablets is minuscule, especially when compared to conventional medicines that contain Belladonna alkaloids.”

This claim, however, is different from what the U.S. Food and Drug Administration (FDA) says: “For such a product (referring to Hyland’s Teething Tablets, which are being linked to serious harm due to intake of larger doses), it is important that the amount of belladonna be carefully controlled. FDA laboratory analysis, however, has found that Hyland’s Teething Tablets contain inconsistent amounts of belladonna. In addition, the FDA has received reports of serious adverse events in children taking this product that are consistent with belladonna toxicity. The FDA has also received reports of children who consumed more tablets than recommended, because the containers do not have child resistant caps.

Belladonna, which is made as a homeopathic supplement and homeopathic medicine, is also used as an ingredient in a number of medications, such as Teething tablets from Hyland’s Inc. It comes from the Belladonna plant, also known under the names devil’s cherry and deadly nightshade due to its high toxicity.

Despite being poisonous, Belladonna has medicinal properties which has allowed it to be used as a medicine since ancient times. However, it should only be used if recommended by a doctor and strictly according to a doctor’s instructions since an overdose can be fatal, especially to children.

Besides the inconsistent amounts of Belladonna that the FDA said was contained in Hyland’s Teething products, reports of adverse events that were consistent with belladonna toxicity were also received by agency. In October of 2016, reports of adverse events that included seizures, fever, and vomiting had already gone up to 400. Worse than these, however, were reports of 10 infant deaths. The FDA is currently investigating the possible connection between the adverse effects and fatalities, and use of Hyland’s teething products (including the teething gel this time).

After two warnings by the FDA to parents to stop using Hyland’s products, Hyland’s management wrote its own letter addressed to all parents, telling them that its teething products are totally safe and effective and that baby death from teething tablets has no scientific basis. Despite this firm stand on the safety of their products, however, Hyland’s has decided to discontinue distribution of its teething tablets and gel.

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Who Can Be Held Liable In A Defective Drugs Claim?

Posted by on Aug 1, 2016 in Uncategorized | 0 comments

Pharmaceutical products are manufactured for one purpose and that is to make customers well. Before being sold to the market, it is important that these products are rigorously tested in order to ensure their safety. Unfortunately, some manufacturers fail in this aspect and sell their product in the market despite the danger it poses. According to the website of Karlin, Fleisher & Falkenberg, LLC, defective drugs can bring about serious side effects to a patient.

When filing a defective drugs liability claim, there are various parties involved that you can sue. Thus it is possible to have more than one defendant in your lawsuit. Here are some of the likely parties you can include in your case:

Manufacturer

Distribution of the drug starts from the manufacturer. They are usually large companies given the huge market for pharmaceutical drugs and the technical challenges associated with the development of a new drug.

Testing Laboratory

A testing laboratory can be included in your case for their failure to elaborately test the drug before pushing it to the market.

Sales Representative

Pharmaceutical companies usually hire sales reps to promote their latest drugs and recommend it to doctors and other members of the medical field. They can also be held liable for recommending a dangerous drug.

Doctor

Doctors can be held liable for injuries for not informing you about any side effects or how to properly use the drug.

Hospital or Clinic

A hospital or clinic can be included in your claim as they are part of the distribution channel from the manufacturer to you

Pharmacy

The pharmacy is the stopover of the distribution channel. A pharmacist can be held liable for their failure to advise you of how to properly use the drug.

When several parties are involved, you may consider filing joint or several liability. With this ruling, each defendant can both “jointly” and “separately” add up to the total amount of damages. Thus, if one of the defendants is unable to pay, the other defendants can compensate for the missing amount.

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