Is your financial security gone?
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Leaders in Financial Loss Recovery



Don't panic. 
Financial recovery may be possible. 

 
Have you lost a lot of money in the stock market? Do you believe your financial advisor gave you false promises, failed to implement your financial plan, or failed to fulfill a professional obligation? We may be able to help you recover your losses. 

We are John Hollander & Harold Geller, lawyers who are experienced at assessing potential claims and seeking financial recovery on behalf of clients who have suffered losses as a result of the negligence of their advisors.To date, 90% of the claims we have pursued have been settled in favour of our clients.

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Breaking News . . .

Investor Claims Against Trapeze Asset Management Inc. 
and Trapeze Capital Corporation


The importance of consumer protection is highlighted in rulings by two financial industry regulators against Trapeze Asset Management Inc., Trapeze Capital Corporation (Trapeze), and their executives, Randall Abramson and Herbert Abramson.  Currently, Hollander & Geller represent clients in 11 separate claims in the GTA and Ottawa that are issued and outstanding against Trapeze, the Abramsons and related companies.  

On April 27, 2012, following an investigation in response to complaints from investors, the Ontario Securities Commission (OSC) announced that Trapeze and their executives breached regulation by their "inadequate collection of some clients’ investment needs, objectives and risk tolerance." In effect, they failed to fulfill their Know Your Client (KYC) obligation. Also, they “inaccurately assessed the risk associated with many of the investments purchased on behalf of clients in managed accounts.”

Trapeze and the Abramsons signed an agreement that they acknowledge these breaches, and have admitted that “many clients saw their investment portfolios decline in value by approximately 50%  to 90%.” To read the full settlement ruling visit:
http://www.osc.gov.on.ca/documents/en/Proceedings-SET/set_20120419_trapeze.pdf

The Investment Industry Regulatory Organization of Canada (IIROC) also investigated Trapeze, and announced on April 27 that it came to the same conclusion.  Both regulators ordered Trapeze to conduct account reviews with all of their clients, “because of concerns regarding understatement of risk arising from (their) failure… to adequately consider factors such as price volatility risk."   Trapeze and the Abramsons admitted that their sales literature understated the risk associated with their investment strategies and recommendations, and signed an acknowledgement of these breaches.To read the full settlement ruling, visit:
http://docs.iiroc.ca/DisplayDocument.aspxDocumentID=D497C7384F6F4A05A4AEB93FFA3D6D53&Language=en

The OSC and IIROC rulings suggest a systemic failure both in the advice provided to investors and in the compliance obligations of Trapeze.  In some cases, communication with clients was handled by relationship managers, including Jack Hayden, Michael Vinokur, and the late Richard Hermon. The Abramsons were the responsible portfolio managers and advisors.  Clients who suffered losses as a result of this systemic failure may have the right to sue Trapeze and its executives.  No class action has been initiated as of this date.





Class Action Notes . . .

Class Action Lawsuits Money Concepts (Barrie) 


Certification Granted (February 17, 2012)
David Karas and James Stephenson Class Action Clients

We Need Your Documents
David Karas clients 
James Stephenson clients  


Alerts . . .

We have extensive experience in the investigation and resolution of investors' claims against financial advisors.  
Contact us for a free initial consultation to see what we can do to help you.  
Please note that this information is not intended to solicit clients who already have legal counsel.  
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A Division of Doucet McBride LLP