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Firm Obtains Punitive Damages Award Against Annuity Agent under Florida’s Vulnerable Adult Statutes

February 10, 2010…A Florida Circuit Court jury in West Palm Beach has awarded punitive damages to a 79 year old senior citizen from Boca Raton in connection with her puchase of equity indexed annuities.  Shortly after Joyce Pogoda’s husband died in April of 2006, Rafael Golan of Delray Beach convinced Ms. Pogoda to cash in existing annuities and repurchase new equity indexed annuities which paid him a significant commission.  Under the terms of the new annuity contracts Ms. Pogoda would have been subject to penalties by accessing her funds prior to the expiration of a twelve year deferral period.  Ms. Pogoda’s counsel, Cristina Pierson of the Boca Raton firm of Hargrove Pierson & Brown, said that the case is very significant for Florida’s senior population in that it is the first time a jury has been presented with the protections afforded seniors under Florida Statutes Chapter 415 which provides civil remedies, including punitive awards, for vulnerable adults who have been financially exploited.

Please view the full article here: Jury awards $272,000 to Delray Beach widow

Firm Client Challenges Due Process Ruling in Florida Supreme Court

January 20, 2010…Delta Property Management, Inc., represented by Hargrove Pierson & Brown, has filed a jurisdictional brief in the Florida Supreme Court challenging an appellate court ruling which refused to apply recent precedent both of the United States Supreme Court and the Florida Supreme Court regarding due process safeguards relating to tax sales of real property.   Both courts have held that when an owner is in danger of  forfeiting property for non-payment of real property taxes, and notice of the tax sale is returned to the county clerk “undelivered,” the clerk must take reasonable steps if practicable to locate the owner.  The decision of the First District Court of Appeal in Tallahassee determined that the latest rulings of the higher courts did not serve as binding precedent as the facts giving rise to the case before it predated the new precedent.  The forfeiture occurred in Duval County. 

The jurisdictional brief can be accessed online at http://www.floridasupremecourt.org/clerk/briefs/2009/2001-2200/09-2075_JurisIni_ada.pdf.

Firm Receives Order Approving Annuity Class Action Settlement

December 18, 2009…The United States District Court for the Eastern District of Pennsylvania today entered a Final Order and Judgment approving a class action settlement on behalf of nearly 400,000 policyholders who purchased equity indexed annuities from American Investors Life Insurance and affiliated  companies.   John Hargrove of Hargrove Pierson & Brown, along with noted class action lawyers, Jerome Marcus and John Auerbach of the Philadelphia firm of Marcus and Auerbach, were lead counsel for the plaintiffs.  The confirmation and approval of the settlement brings to an end nearly six years of litigation regarding certain marketing and sales practices challenged by the class members.  For more information about the class action visit www.mdl1712settlement.com.

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John R. Hargrove
Hargrove Pierson & Brown
“A Boca Raton Law Firm”

Hargrove Again Named to “Best Lawyers in America”

December 16, 2009…Senior partner John Hargrove has again been named to the 2010 edition of the coveteted reference book, “Best Lawyers in America.”  As in the past, he is listed in three categories — Appeals, First Amendment Law and Business Litigation.  The designation coincides with the December announcement of John’s inclusion in two other publications — “Florida’s Super Lawyers for 2010″ and the “South Florida Legal Guide to Top Lawyers.”

In Memoriam of James Fuller Hargrove

Hargrove, James Fuller, passed away on November 15, 2009. He was born on April 10,1978. Jimmy loved poetry and plays, science and skepticism, but most of all he loved Ginny, his family and his friends. He had an open mind, a warm heart, a quick wit, helping hands and boundless curiosity. He set an example of tolerance, resilience and cheerfulness for all who knew him. Jimmy graduated from St. Anthony’s School and attended Cardinal Gibbons High School, both in Fort Lauderdale. He graduated from The Tilton School in Tilton, New Hampshire and received his B.A. from New York University with a major in Creative Writing. His studies at NYU were greatly enhanced by having the opportunity to hear seminars from talented authors and poets. While his work as a Search Engine Marketing Specialist baffled his parents, it challenged Jimmy. He thought the Internet opened a world of new possibilities and was intrigued by it. He enjoyed his coworkers at Lead Flash, and was considered by his colleagues to be talented and professional. They have said it was apparent that he loved what he did. He had a passion for writing and a gift for planning and building corporate websites, as well as strategizing marketing plans for them. He was excited about being president of the new company, AdMix Marketing, and looking forward to developing its potential. Not only was Jimmy charismatic, smart and caring, he was athletic as well. At Tilton he was co-captain of the varsity tennis team and continued to play throughout his life. He loved water sports, snow skiing and prized the chance to play golf with his Dad, Brother and Grandfather. He was handsome, lively, enthusiastic and fashionable. Jimmy is survived by the love of his life, Virginia Lombardi (Ginny), and by his brother Johnny, his father John, and his mother Mary Cheryl. He will be missed by his grandparents, Sam and Betty Winn Fuller, his aunt Debbie Fuller, his aunt Karen and uncle Craig Wolfe, and his loving cousin Carrie Wolfe. Visitation will be held on Friday, November 20 from 10 am to 11 am at Babione Funeral Home, 1100 North Federal Highway, in Boca Raton. Monsignor Vincent Kelly will preside over the funeral service at 11 am, with the burial to follow. In lieu of flowers, the family is requesting that donations be made in memory of James Fuller Hargrove to the University of Miami, Miller School of Medicine, where Jimmy received loving care in the days just before he died. Please send your donations to the attention of Cory Witherspoon, Director of Development, 1500 NW 12th Avenue, Suite 1020 East, Miami FL 33136. His number is (305) 243-9655. Donations may also be made in Jimmy’s memory to Boca Helping Hands, where Jimmy was a volunteer, at www.bocahelpinghands.org or 127 NW 13th Street, Suite 13, Boca Raton, FL 33432, or by calling Brooke Pickett at (561) 367-1193.


Man Sues Boca’s “You Buy, You Die” Guys, Barry and Howard Kaye for Securities Fraud

October 7, 2009…Kimberly Miller of the Palm Beach Post reports that local insurance tycoon, Barry Kaye, has been sued for fraud in federal court in Ohio. The suit claims that Kaye and his son, Howard, persuaded an 81 year old man to purchase a $5 million policy of insurance with promises that he later could sell the policy to an investor for a substantial profit. After paying more than $322,000 in premiums over a two year period, Louis Levin said that there was no market to sell the policy as the Kaye group had represented. The suit alleges further than Howard Kaye solicited Levin, recommended the purchase of the policy and received a substantial commission when Levin made the purchase. Compensatory and punitive damages are being sought.

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John R. Hargrove
Hargrove Pierson & Brown
“A Boca Raton Law Firm”

Senior Citizent Alert!

September 5, 2009 – The Federal Bureau of Investigation has published a warning on scams and fraud schemes impacting senior citizens.  As the article notes, the experience of the FBI is that the elderly are targeted for fraud primarily because they are most likely to have a “nest egg” from saving wisely and as a rule they have good credit, all of which  the con-artist will try to tap into and exploit.  Click on the link below and read why seniors should be concerned how they can be protected.

http://www.fbi.gov/majcases/fraud/seniorsfam.htm

Post By:
John R. Hargrove
Hargrove Pierson & Brown
“A Boca Raton Law Firm”

Senior Citizen Alert

August 27, 2009…Senior Citizen Alert. The Wall Street Journal reported today on page D 1 that a new scam on senior citizens involves “reverse” mortgages.

“[R]egulators and law-enforcement officials are sounding alarms about the potential for yet another type of mortgage fraud – this time, in the small but fast growing reverse- mortgage market. Such fraud, though still rare, ‘is occurring in every region of the United States and reverse-mortgage schemes have the potential to increase substantially,’ according to a recent publication issued by the Federal Bureau of Investigation and the Office of Inspector General at the U.S. Department of Housing and Urban Development, which oversees the federally insured loans that account for some 99% of the reverse-mortgage market.”

According to the article, regulators cite cases in which real estate speculators have purchased properties at distressed prices, then have sold them using inflated appraisals to senior citizens willing to take out reverse mortgages. While these types of scams are “around the edges” of an otherwise legitimate market, seniors need to be aware.

Post By:
John R. Hargrove
Hargrove Pierson & Brown
“A Boca Raton Law Firm”

Hargrove Named in Corporate Counsel Edition of Super Lawyers

August 25, 2009 – Senior partner, John Hargrove has been recognized in the September/October 2009 edition of the Corporate Counsel Edition of Super Lawyers magazine. The selection process independently evaluates candidates for inclusion on the basis of peer recognition and professional achievement, including verdicts, settlements, transactions, representative clients, experience, honors and awards, as well as pro bono and community service, scholarship and other outstanding achievements. Hargrove has been included in this elite group since the publication’s inception.

Post By:
Cristina M. Pierson
Hargrove Pierson & Brown
“A Boca Raton Law Firm”

Equity Index Annuity Class Action Settlement

August 15, 2009 – United States District Court for the Eastern District of Pennsylvania has just issued an order preliminarily approving a class settlement on behalf of nearly 400,000 equity indexed annuity policy holders. Final court approval is set for November of this year. John Hargrove is co-lead counsel for plaintiffs along with Philadelphia lawyers Jerome Marcus and Jonathan Auerbach. The settlement brings to an end nearly five years of litigation with Aviva the suitability of equity indexed annuities sold to senior citizens throughout the United States. For more details contact the firm.

Post By:
John R. Hargrove
Hargrove Pierson & Brown
“A Boca Raton Law Firm”