A federal court in Massachusetts has granted partial summary judgment in favor of the Securities and Exchange Commission in its action against Navellier & Associates Inc., a Nevada-based investment advisory firm, and its founder and chief investment officer, Louis Navellier of Florida.
The SEC’s complaint alleges that the defendants breached their fiduciary duties and defrauded their clients and prospective clients through the use of marketing materials that included false and misleading statements regarding the performance of the firm’s Vireo AlphaSector investment strategies.
The court also found that the defendants continued to sell the Vireo AlphaSector investment strategies despite their knowledge that representations about the strategies were false and misleading.
Blue Anchor Capital Management and Pickett also purchased “highly aggressive and volatile” securities, according to the order.
Reshuffle provides strong indication of where the regulator's priorities now lie.
Goldman Sachs Asset Management report reveals sharpened focus on annuities.
Ahead of Father's Day, InvestmentNews speaks with Andrew Crowell.
Cerulli research finds nearly two-thirds of active retirement plan participants are unadvised, opening a potential engagement opportunity.
Barely a decade old, registered index-linked annuities have quickly surged in popularity, thanks to their unique blend of protection and growth potential—an appealing option for investors looking to chart a steadier course through today’s choppy market waters, says Myles Lambert, Brighthouse Financial.
How intelliflo aims to solve advisors' top tech headaches—without sacrificing the personal touch clients crave
