Valenti Hanley PLLC

August 2019 Archives

Sotheby's hit with multiple shareholder lawsuits over sale

In less than a month, four shareholder lawsuits have been filed against Sotheby's. At issue is the famed auction house's acquisition deal with Patrick Drahi. The 55-year-old Drahi, known as a telecom mogul, is president of Altice, the French telecom group. In June, it was announced that he was planning to purchase Sotheby's for $3.7 billion and turn it into a private company. Sotheby's has been a publicly traded company for over three decades.

How do you know it's time to change financial advisers?

Most people dread the thought of leaving their financial adviser. Even if you don't have a particularly good relationship with them, they may have been handling your investments and other assets for years. Moving everything over to another firm can be difficult and time-consuming. You may also just not want the confrontation.

What is the Securities Act of 1933?

The Securities Act of 1933 was created to protect investors after the 1929 stock market crash. The point of this legislation was to make sure that financial statements would be more transparent, making it possible for investors to make more informed decisions. Additionally, laws were passed to prevent fraudulent acts and misrepresentation in the securities market.

How many U.S. residents invest in the stock market?

You hear a lot about the stock market on the news or when you bring up financial topics like estate planning, retirement planning or just increasing your personal wealth. But have you ever wondered, for all of the people who seem to have a lot of opinions about investing, how many of them are actually putting their money into stocks?

What exactly is regulatory work and what's the role of the state?

The U.S. Securities and Exchange Commission (SEC) is responsible for supervising the enforcement of federal securities laws. Kentucky and every other state in the country have their respective agencies that perform similar duties as well. They each regulate the sale or exchange of stocks, bonds and other financial instruments that can be traded for a monetary value within their borders. The work of both of these agencies is referred to as regulatory work.

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Valenti Hanley PLLC
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Louisville, KY 40202

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