201711.20
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Medical Capital Notes

Representative Cases – The firm’s lawyers represented several investors in connection with claims for losses involving misrepresentations and omissions relating to Securities America’s sales of Medical Capital Notes. The investors have alleged that Securities America and its representatives failed to conduct adequate due diligence on the product and ignored obvious red flags about the product prior to selling it to the investors. The investment turned out to be a Ponzi scheme and the investors lost millions of dollars. Joe Peiffer was one of three attorneys in the country selected by his peers to lead the individual claims against Securities America and Ameriprise. As a result of the co-lead’s efforts, the Court rejected a low, no opt-out, settlement offer in lieu of their arbitration claims. Once this settlement was rejected, Securities America and Ameriprise ultimately paid over $150 Million to settle the class and individual claims.