Tenenbaum Law Firm Success Stories

Defense of Wells Fargo Securities Brokers in FINRA Enforcement Action
Industry: Financial Services
Results: Tenenbaum Law represented two Wells Fargo securities brokers in a Financial Industry Regulatory Authority (FINRA) enforcement proceeding. Despite serious charges including forgery, the firm persuaded FINRA not to impose the career ending 30-day suspensions and significant fines it sought. Ultimately, the proceeding was terminated without any findings against the brokers, sanctions or fines.

Defense Against Securities Regulatory Investigations & Imposition of Securities Compliance Requirements
Industry: Oil & Gas
Results: Tenenbaum Law has assisted its oil and gas clients in successfully maintaining that their joint venture interests are not securities and, therefore, are not subject to the burdens and restrictions of compliance with securities regulations. Oftentimes, these matters conclude with the clients avoiding adverse orders that could disrupt their business. In one matter, the firm represented its client in a lawsuit initiated by the Colorado Securities Commissioner. The firm successfully defended its client at trial obtaining a judgment that the joint venture interests were not securities. The Court of Appeals for the first time applied new criteria for the determination and sent the case back to the trial court. There, following the appellate ruling the court reversed its earlier finding and ruled that the interests were securities. The client will be appealing the decision to the Colorado Supreme Court upon conclusion of a second trial on the issue of fraud.

Prosecution of Litigation Against Investment Advisor
Industry: Insurance and Investment Products
Results: Tenenbaum Law represented an elderly investor in an action against her investment advisor and securities broker who had sold her excessive amounts of life insurance products and other unsuitable risky investments. The firm obtained a favorable settlement from the broker’s professional liability insurance carrier.

Refund & Judgment Secured Against Investment Advisor
Industry: Insurance and Investment Products
Results: Tenenbaum Law represented a high net worth individual in an action brought against her investment advisors who had sold her excessive amounts of life insurance products and other unsuitable risky investments. The firm obtained a complete refund of the high dollar premiums paid for multiple years to the insurance company and a substantial judgment against the investment advisors personally for their improper conduct.

Favorable Settlement on Behalf of Insurance Professionals in Colorado Securities Action
Industry: Insurance
Results: Tenenbaum Law defended several licensed insurance sales persons in a lawsuit brought by the Securities Commissioner of the State of Colorado in connection with the offer and sales of viatical life insurance policy settlements. The firm argued that the life insurance settlements were not securities, and therefore, the sales persons had not violated the registration or broker licensing requirements of Colorado securities laws. The Securities Commissioner sought significant rescission damages in addition to injunctive and other relief. Tenenbaum Law obtained a favorable settlement in which only one of the sales person defendants was required to make a nominal monetary payment, and none of sales persons’ insurance licenses or practices were compromised.

SEC Defense of In-House Counsel/C Level Executive for Qwest Communications
Industry: Utilities
Results: Tenenbaum Law defended a Qwest in-house attorney in the U.S. Securities and Exchange Commission’s investigation of Qwest. The firm reached a favorable resolution- the SEC brought no charges against the attorney, and did not pursue its case to seek an injunction and a bar against the lawyer from representing any public companies. Tenenbaum Law also represented a senior executive vice-president of Qwest in the investigation, and obtained a favorable settlement. The SEC had been insistent on barring the executive from ever serving with a public company and paying a substantial fine. The matter was settled without the bar and for a significantly less fine.

Defense of Merrill Lynch in FINRA Arbitrations
Industry: Wealth Management and Financial Services
Results: Tenenbaum Law represented Merrill Lynch in the defense of numerous FINRA arbitrations in the State of Colorado. These matters were settled for substantially less than the amounts initially claimed.

Defense of Securities Action Involving Sale of $15 Million Securities
Industry: Healthcare
Results: Tenenbaum Law defended its client in a four-year investigation brought by the Colorado Division of Securities that jeopardized its ability to continue in business. While under investigation, the client was able to stay in business and the firm successfully settled this matter with the regulatory authority ultimately not including any findings of fraud or disgorgement of the $15 million capital raise. The client was pleased that no fraud charges were brought and that they were able to proceed with a $50 million healthcare fund.

Defense of Audit Committee Chairman of $200 Million Revenue Company in SEC Investigation
Industry: Health and Fitness
Results: Tenenbaum Law successfully defended the audit committee chairman of a nutritional supplement company with $200 million in annual revenue in an SEC investigation. The SEC claimed that the firm’s client was a “gatekeeper” of the company responsible for alleged fraudulent financial statements of the public company. The case was settled favorably and the SEC withdrew its demand that the client be barred from serving with any public company. The monetary payment was also reduced substantially.

Representation in SEC Investigation of $130 Million Ponzi Scheme
Industry: Financial Services
Results: Tenenbaum Law defended a financial services company and its management in a Securities and Exchange Commission action alleging a $130 million Ponzi scheme. This case was settled without the client admitting or denying any wrongdoing.


Legal Strategies and Solutions

Our litigation practice is built on our clients’ success. We win when our clients win and our shared victories start with taking the time to understand our clients, their business, and their goals.