L.J. Hart and Company

Our law firm represents individual and institutional investors that have been mistreated by their brokers and brokerage firms, such as L.J. Hart and Company. Many investors do not recognize broker misconduct in their accounts, and those that do are often hesitant to seek help. Broker misconduct spans many issues that violate industry rules, including unauthorized trading, breach of fiduciary duty, unsuitable asset allocation, and churning. The attorneys at Gana Weinstein LLP can analyze your accounts and investments to determine if there was misconduct in the handling of your account.

L.J. Hart and Company is a municipal bond underwriting and advisory firm that designs financings for local governments and public entities, primarily school districts along with counties, special districts and not-for-profit corporations. Founded in 1991 by Larry J. Hart and based in the Saint Louis area, the firm has completed more than 2,600 municipal financings with a par value above 7.3 billion dollars, mostly in Missouri, and was acquired by Commerce Bank in 2022.

L.J. Hart and Company – By the Numbers:

The Securities and Exchange Commission (SEC) announced enforcement actions against 36 municipal bond underwriting brokerage firms for material misstatements and omissions in municipal bond offering documents. The SEC offered favorable settlement terms to municipal bond underwriters and issuers who self-reported securities law violations leading to the settlements.

The SEC alleged that between 2010 and 2014, 36 brokerage and financial firms violated federal securities laws by selling municipal bonds using offering documents that contained materially false statements or omissions about the bond issuers’ compliance with their obligation to disclosure. The firms were also alleged by the SEC to have failed to conduct adequate due diligence to identify the misstatements and omissions before offering and selling the bonds to their customers.

The municipal bond market is a $3.7 trillion market. Continuing disclosure provides municipal bond investors with information about the solvency and financial fitness of issuers on an ongoing basis. The SEC had previously identified issuers’ failure to comply with their continuing disclosure obligations as being a major challenge for investors seeking up to date information about their municipal bond holdings.

Articles Tagged with L.J. Hart and Company

L.J. Hart and Company

SEC Charged 36 Brokerage Firms Over Municipal Bond Offerings