Our News Library | Levin Papantonio Rafferty - Personal Injury Lawyers

FDA Requires New Warnings for Xeljanz and Other Arthritis Medicines Due to Heart Risks

The U.S. Food and Drug Administration (FDA) issued a Drug Safety Communication (DSC) regarding the arthritis and ulcerative colitis drug Xeljanz (and Xeljanz XR), otherwise known as tofacitinib. After studying the results of a large, randomized safety clinical trial of the medicine, the agency stated there was evidence of “serious heart-related events,” including heart attack, stroke, cancer, blood clots, and death.

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Claims Filed Regarding Former Sarasota Financial Advisor Marc Korsch for Sale of Allegedly Speculative and High-Risk REITs and Illiquid Investments to Retirees

The Levin Papantonio Rafferty law firm announced today that it has filed claims on behalf of retiree investors who are former clients of Sarasota-area Financial Advisor Marc Korsch and NAV Advisors. According to his FINRA Brokercheck report, Mr. Korsch’s securities registration terminated last week on Friday, September 3 – which may leave clients stuck with illiquid investments that they cannot sell.

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MJ Capital Funding Accused of Ponzi Scheme – Investors May Have Right to Recover Losses

The Securities and Exchange Commission has filed a complaint against MJ Capital Funding, LLC, MJ Taxes and More Inc. and Johanna M. Garcia, the owner of MJ Capital Funding and MJ Taxes, for allegedly running a Ponzi scheme. On August 13, 2021, the SEC announced that it filed an emergency action and obtained a temporary restraining order, an asset freeze, and the appointment of a receiver to stop the misappropriation of funds allegedly carried out by Garcia and the entities she controls.

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The Parking REIT (MVP REIT II) – Investment Loss Recovery

Parking REIT investors may have suffered losses of over 75% of their investment principal, based on recent tender offers of less than $6.00 per share made by MacKenzie Capital Management.  Furthermore, data from limited secondary trading data sources shows a sale in June 2020 for amounts as low as $5.01 per share. The Parking REIT’s board estimated the share value at $11.75 as recently as June 2021, but even if that share value estimated was correct investors who paid $25.00 per share may have lost over 50% of their investment principal.

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Atlas Growth Partners LP Red Flags – Investors May Be Entitled to Recover Losses

Atlas Growth Partners LP was a high risk limited partnership dedicated to developing and producing natural gas, crude oil and NGLs. Based on Atlas Growth Partner’s SEC Filings, investors who were sold Atlas Growth Partners may have lost almost 99% of their investment principal. Atlas Growth Partners recently disclosed in a filing with the SEC that there were “significant risks and uncertainties related to our inability to satisfy our current liabilities raise substantial doubt about our ability to continue as a going concern.

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Philips CPAP Recall - Degradation of Foam Could Cause Cancer and Other Health Risks

Phillips Respironics has issued a voluntary recall of around 4 million CPAP and BiLevel PAP devices. According to the manufacturer’s notification, the company’s quality management system revealed these products pose serious health risks and potentially life-threatening injuries for users.

The first-generation DreamStation product family comprises the Philips medical devices most affected by the recall.

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HMS Income Fund Losses – Investors May Be Entitled to Recover Their Losses

MSC Income Fund, formerly known as HMS Income Fund, is a principal investment fund that works to provide debt and equity financing solutions primarily to private U.S. companies. According to Hines Securities’ website, a new advisory agreement approved by HMS Income fund’s shareholders, the subsidiary of Main Street Capital Corporation that had been serving as the Fund’s sub-advisor is now the sole investment advisor and administrator of the Fund. Because of this transaction, HMS Income Fund is now known as MSC Income Fund, Inc.

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Healthcare Trust Inc. REIT Investment Losses – Investors May Have Right to File Claim

Healthcare Trust Inc. is a publicly registered non-traded REIT (real estate investment trust) that was sponsored by AR Global. Healthcare Trust Inc. was originally known as American Realty Capital Healthcare Trust II, Inc. Healthcare Trust was a high risk investment, and it should have only been recommended to investors who could afford a complete loss of their investment. Brokers and brokerage firms who did not conduct appropriate due diligence or unsuitably recommended their clients invest in Healthcare Trust Inc. may be liable for losses suffered by investors

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Winning the War on Opioids: A Behind the Scenes Look at The Largest and Most Complex Deal In The History of Jurisprudence

A massive $26 billion proposed settlement against the pharmaceutical industry’s biggest players was just announced. Legal insiders from Levin Papantonio Rafferty explains how a consortium of firms found the right formula after a decades-long battle for justice.

In a deal the Washington Post called “the largest civil action in U.S. history,” the terms for the formal global settlement agreement with opioid manufacturer Johnson & Johnson (J&J) and the “Big Three” drug distributors AmerisourceBergen, Cardinal Health, and McKesson were just announced.

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Previously Registered Investment Adviser Jeffrey Raymond Dixson Allegedly Made Unsuitable Investment Recommendations

Financial Industry Regulatory Authority (FINRA) has published a BrokerCheck report on previously registered broker and investment adviser Jeffrey Raymond Dixson, showing multiple customer disputes and one regulatory dispute.

As of this writing, Dixson has been the subject of 20 customer disputes, nine of which are still pending. He also faced a regulatory dispute in 2007.

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Investors Harmed By Investments in SPACs May Have Right to Recover Losses

Recently, professional athletes and various high-profile celebrities have joined in on the boom of SPACs (Special Purpose Acquisition Companies), causing the U.S. Securities Exchange Commission to caution investors about investments in SPACs. Athletes like Stephen Curry, Serena Williams, Alex Rodriguez, and Colin Kaepernick are among those notable names who have invested in SPACs.

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Texas Broker Masood Husain “Mike” Azad Barred by FINRA Following Allegations

FINRA registered broker Masood Husain Azad (also known as Mike H. Azad) has been barred by the regulatory authority following allegations from clients dating back to 2017. First Allied Securities Inc. terminated Mr. Azad’s employment in May of 2017 following allegations of violating a Firm policy regarding borrowing money from clients. Azad was also allegedly engaging in outside business activity and unapproved private securities transactions.

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