SSEK Investigating Claims Against Meyers Associates

Lawyers with the Securities Law Firm of Shepherd Smith Edwards & Kantas LLP are investigating claims involving Meyers Associates, which is now known as Windsor Street Capital, L.P. (“Meyers Associates”).  Meyers Associates has had a long and troubled history with the securities regulators.  Most recently, on January 4, 2018, the National Adjudicatory Council (“NAC”) affirmed a previous regulatory fine of $700,000.  This disciplinary action was primarily the result of sales materials which were distributed to clients and prospective clients that FINRA found were misleading. 

Among other issues, the NAC found that Meyers Associates repeatedly send out mass emails to prospective investors that included claims about a potential investment in SignPath Pharma, Inc., a biotechnology company founded by the owner of Meyers Associates.  Despite the fact that SignPath was millions of dollars in debt and had never generated any revenue of any kind, these emails claimed that the company had “a unique opportunity in obtaining an oral incretin-mimetic [Dutogliption] designed for individuals with type 11 diabetes which will catapult SignPath Pharma's direct entry into clinical Phase III and IV within the next several months.”  What these emails did not disclose, however, was that this claimed business opportunity was not unique to SignPath and that SignPath  needed to raise millions of dollars to even entertain the possibility of purchasing the drug and millions more to undergo required clinical trials.

These kinds of problems have been all too common for Meyers Associates.  Since its founding in 1993, it has been subject to 25 disciplinary actions from state and federal securities regulators.  On average, the firm has been in trouble with one regulator or another in a new proceeding every year of its existence.  This includes other problems such as findings that the firm facilitated the sale of hundreds of millions of shares of penny stocks without researching whether the sale of those shares were legal under applicable securities laws. (  The firm was fined $200,000 for that violation.  In May 2017, the firm’s registration in the state of Connecticut was cancelled by the state regulator because of failures to maintain adequate supervisory procedures, selling unregistered securities, and making materially misleading statements to the Connecticut state securities regulator.  All told, Meyers Associates is a brokerage firm with a history of noncompliance with applicable securities laws and regulations.

If you are or were a current or former client of Meyers Associates, now known as Windsor Street Capital, L.P., and lost money through and investment made at that firm which you believe may have been improper, you can contact our law firm for a free, no obligation consultation about your situation and the options you may have available to you. All communications will be kept strictly confidential, and you will not be billed in any way for a consultation.  
Shepherd Smith Edwards & Kantas LLP has a team of attorneys, consultants and staff with more than 100 years of combined experience in the securities industry and in securities law. For more than two decades, our firm has represented thousands of investors nationwide to recover losses.

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