Nicholas Schorsch made hundreds of millions in real estate, but an accounting scandal devastated his business.
Marcato Capital Management says in a regulatory filing that shares of the independent broker-dealer are undervalued. The stock was up nearly 4% Tuesday amid a broad market sell-off.
As inquiries into the broker-dealer wind down, regulators' focus could turn to others in the industry, CEO Casady says.
Group focuses on mainstream and alternative investments such as nontraded REITs.
Safety and maintenance issues found at five hotels owned by American Realty Capital Hospitality Trust.
FSC Securities is on the hook for a $1.28M arbitration award to investors who were swindled by a notorious con man featured on “American Greed: The Fugitives.”
CEO Larry Roth claims the move is not part of any widespread consolidation within RCAP's retail brokerage division.
REIT sponsor controlled by Nicholas Schorsch has its first liquidity event of the year, selling shares of Global Net Lease Inc. on the New York Stock Exchange.
Top managers from First Allied and J.P. Turner have left the sprawling Cetera Financial Group broker-dealer network, with 9,600 registered reps and financial advisers. Whether the exits are part of a broader reorganization is unclear.
