Puerto Rico Bonds

Records from the Financial Industry Regulatory Authority (FINRA) show that since 2014, it has received an influx of arbitration case filings relating to Puerto Rico bonds from claimants, almost all of whom reside in Puerto Rico. As of January 31, 2017, nearly 1900 cases involving Puerto Rican bonds have been filed; of these, more than 1100 cases are pending and over 30 have been decided by award.

Many individuals who invested on bonds issued by the Puerto Rican government are now suffering losses due to the financial dilemma that this government has sunk into in recent years. Though investors benefited from the handsome returns or high yields these bonds offered during a period of historically low interest rates, these same investors are now feeling the bite of losses in their portfolios.

During the past several years, the Puerto Rican government has struggled with compounding debts and economic decline, which have caused the value of Puerto Rico’s municipal tax-free bonds falling considerably. It was in September 2013 when Puerto Rico bond values began to decline sharply that investors who held these bonds also began to suffer massive losses.

Investors seeking remedy for their losses in Puerto Rico bonds are advised to file their disputes in Financial Industry Regulatory Authority, Inc. (FINRA) arbitration. This is the case, especially with those who have invested in a closed-end fund that held Puerto Rican debt or a high-risk/high-yield Puerto Rican bond without understanding the risks associated with the investment, if they hope to recover their losses.

According to a Puerto Rico Bond fraud attorney, investors in the United States and Puerto Rico are filing FINRA arbitration claims against their brokerage firms which advised them to make investments in Puerto Rico bonds or bond funds. Many of these investors were not adequately warned about the high risk nature of the bonds, thus, suffering serious losses as a result. Investors may have a claim against the brokerage firm based on misrepresentation, unsuitability, breach of fiduciary duty and state and federal securities laws.

A broker must have reasonable grounds for each recommendation made to investors considering such factors as the customer’s other securities holdings, financial situation, and risk tolerance. In addition, before a financial advisor recommends a security to his customers, the financial advisor must conduct due diligence, investigating the facts surrounding the security, to confirm that it is suitable for the customer. The suitability of an investment for a particular individual is at the center of the investment process and one of the key duties owed by a broker to the customer. Thus, a firm may be held liable for its broker’s failure to recommend suitable investments to its customers.

 

Fatal Road Behaviors: Speeding

Some of the worst fatal road behaviors include drunk driving, speeding, tailgating, and weaving. But it can be argued that speeding is the most dangerous of all. This is because speeding involves certain factors and risks that cannot be found on other reckless road behaviors.

What is Speeding?

When you hear the word speeding, the first thing that comes to your mind is driving at an excessive speed. This is true, but this definition is quite limited. Speeding is not just about driving too fast, as it is also about driving too fast considering the road and its conditions.
For example, a vehicle traveling at freeway speeds on a school zone or wet road can be considered speeding, but if that vehicle is on a freeway, it can be argued that it is not speeding.

Why is it Dangerous?

Those who are speeding are more likely to get involved in an accident. But the financial costs don’t stop at hospital bills and vehicle repair bills. According to the website of this Providence car accident lawyer, those who have been injured in car accidents may take legal action against the responsible party. In other words, if your speeding behavior causes an accident and has involved an innocent motorist, you may be legally required to give compensation for the damages.
But how can an accident occur if you speed? Below are the following factors that may cause an accident:

  • Poor tire traction – The tires of a speeding vehicle may have less traction on the road. For example, a vehicle going too fast may overturn or rollover during a turn. This is because the tires may not stay on the ground due to excessive momentum.
  • Poor vehicle control – Drivers who speed have limited control of their vehicles. Even a slight turning maneuver and slight movement in the tire’s angles may cause an accident, not to mention that fast objects are inherently harder to control because of limited reaction time.
  • Poor visuals – Speeding drivers also have less time to see road stimulus, such as road signs, traffic lights, and even other vehicles, because the excessive speed may make them pass through them too swiftly.

Consequences of Reckless Driving

Driving is a significant factor in our lives. With this skill, we become more mobile in going to work or school, and accomplishing errands and responsibilities. Since driving is such an important aspect of society, driving in an unsafe manner is considered an offense, or even a crime.

The consequences of reckless driving are deeper than you think. They are written below to prove the point that reckless driving should be avoided at all costs.

Penalties
The most obvious consequences are the fines and penalties for reckless driving once you are caught. The severity of the fines and penalties depend on the jurisdiction and the gravity of the offense. The fines can reach to hundreds or thousands of dollars. The jail times can go up to one year. You may even get your license suspended for a period.

Accidents
Reckless behaviors such as distracted driving, speeding, street racing, tailgating, and weaving put not just you at risk of accidents, but also the others around you. If you are doing these reckless behaviors, you are giving yourself limited control over your vehicle and limited reaction time to stimulus, such as turns, traffic signals, and other vehicles. The vehicles around you are also in danger because you are also giving them limited time to react to your reckless behavior and difficulty to judge your present and future position.

Injuries
If there are accidents, there may be injuries involved. This is especially true on high-impact collisions caused by reckless behaviors that involve speed, such as speeding and street racing. If you have been injured because of your reckless behaviors, that is on you. But the others around you may have it worse because they have sustained the injuries because of the recklessness of another party. The worst injuries include head and brain trauma, spinal cord injuries, fractures, and even death.

Psychological Effects
Getting involved in an accident, especially one that has caused injury or death, can be a very stressful and traumatic experience. It can have an emotional and psychological toll on those who are involved. Common problems include anxiety, flashbacks and nightmares about the traumatic event, fear of cars, roads, and driving itself, and social withdrawal.

Reckless driving is a lame excuse for accidents, as it can be easily avoided. What makes it worse is the fact that innocent parties may be involved. Still, according to the website of the defense attorneys at Truslow & Truslow, reckless driving charges can be defended.

But who wants to deal with the hassles of courts and hospitals? The best way to avoid those things is by avoiding reckless driving behaviors altogether.

Why Chapter 11 Bankruptcy Remains to be an Attractive Option for Many Businesses Facing Significant Financial Problems

Insolvency, or the inability to pay debts, places any business at risk and though no firm will want lose more money than what it earns, when debts reach an amount which a firm can no longer pay, then it will have to find ways to immediately to save itself from such debt without needing to cease operations.

The good new is, there are actually a number of legal options that a business can pursue to get out of debt to regain solid financial footing; one of these options is bankruptcy.

The U.S. Bankruptcy Code offers individuals, families and companies several paths which will help them rise up from a debt crisis. These paths are contained in various chapters of the Bankruptcy Code and each chapter is specifically calculated to address the unique tight spot a debtor is suffering from.

Businesses, particularly, have three bankruptcy chapter options to choose from:

  • Chapter 7, which is a liquidation bankruptcy. This chapter requires that a business stops operation and all its available assets surrendered to a court-appointed trustee for liquidation. The earnings from the sale will be distributed to creditors to pay the firm’s debts.
  • Chapter 13, which is reorganization or restructuring bankruptcy. It is designed for sole proprietorship business structures, though it may also be filed by individuals who have either an unsecured debt that is less than $383,175, or a secured debt that is below $1,149,525. These debt limits are set by the federal government, which has complete jurisdiction over bankruptcy matters. In this chapter, the court will require a restructuring of the debt payment scheme (a three-year payment plan but which may be extended to five years upon the court’s approval) – after which all debts should already have been fully paid; and,
  • Chapter 11. Though this bankruptcy chapter is the most expensive, time-consuming, complex and riskiest, it the only option for sole proprietors, whose debts exceed the limit set in Chapter 13, as well as for small businesses structured as corporations, limited liability companies or partnerships that owe overwhelming debts, but would not want to cease operations (many well-established corporations, like United Airlines, K-Mart and General Motors have sought protection under this chapter).

Chapter 11, specifically, allows debtors to restructure their finances through a bankruptcy court-approved reorganization plan. This restructuring scheme is intended not only to keep a business alive, operational and profitable (under the court’s close monitoring), but also to ensure that creditors are paid the amount owed to them. Debtors also have the option to sell a few or all of their assets to downsize their business if they need to.

According to a Raleigh Chapter 11 bankruptcy attorney, despite the risks, many businesses facing significant financial problems see Chapter 11 bankruptcy an attractive option due to its benefits, which include:

  • The ability to keep a business running during the bankruptcy process;
  • Protection against creditor harassment;
  • Possibility of obtaining loans at favorable rates; and,
  • Litigation against the debtor is put on hold.

The Lowdown on Insys Therapeutics And Its Deceptive Marketing Practices

Currently hitting the limelight in the legal field is the class lawsuit filed by several lawyers against pharmaceutical company for its allegedly deceptive marketing practice. The lawsuit is directed towards Subsys, an oral spray for the treatment of cancer pain. The drug is 100 times more potent than morphine and has proven to e useful in providing pain relief to terminal cancer patients.

Subsys debuted in the market in 2012. It was designed as a painkiller for patients with late stage cancer pain. After its launch, the drug delivered record profits for the company. In the first half of 2015, Insys earned $147.2 million in sales from Subsys, which accounted for 99% of the company’s earnings during that period. However, most of the profit came from illegal practices. According to the website of Williams Kherkher, Subsys was prescribed for off-label use in non-terminal patients.

The Food and Drug Administration approved fentanyl for use by patients with late stage cancer pain. However, Insys marketed the drug directly to doctors as a treatment for neck pain, migraine, and other conditions. This was confirmed by former employees of the company who were instructed to target family doctors, internists, and general practitioners. The company also allegedly paid doctors, nurse practitioners, and other medical professionals to prescribe the drug. In 2015, a nurse pleaded guilty to receiving $83,000 worth of kickbacks in exchange for prescribing Subsys to patients.

The most recent case was filed by Illinois Attorney General Lisa Madigan in Cook County Circuit Court. The lawsuit seeks to impose financial penalties and prohibit the company from selling Subsys in the state. The case alleged that Insys routinely marketed the drug for off-label use. In addition, the company marketed the drug to high-volume opioid prescribers who are not oncologists or pain specialists who treated cancer.

In August 2015, the company agreed to pay $1.1 million worth of settlement to officials in Oregon. The amount is more than twice the sales of Insys in Oregon. It also offered a payment of $6.125 million settlement to investors who claimed that Insys had knowledge that10% or approval prescription were for cancer patients.

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