inancialCounsel.com is sponsored by James Eccleston, equity partner in Shaheen, Novoselsky, Staat, Filipowski & Eccleston, Attorneys at Law.

Shaheen, Novoselsky, Staat, Filipowski & Eccleston, P.C. is a ten-attorney law firm practicing in many areas of the law. The securities law practice group of the firm represents individuals, businesses, trustees, beneficiaries, and ERISA plan sponsors in arbitration and litigation to recover their investment losses. Additionally, the securities attorneys work with brokers, investment advisers and other securities industry professionals in regulatory, compliance and disciplinary matters, as well as in customer disputes and employment matters, such as litigation of post-employment non-competition, non-disclosure, non-solicitation and confidentiality agreements.

You can find more information on these and other experienced securities law professionals at
SNSFE Law.com.

James J. Eccleston

James J. Eccleston is an equity partner and shareholder with Shaheen, Novoselsky, Staat, Filipowski & Eccleston, P.C., heading the firm's four-lawyer securities law practice group.

Mr. Eccleston holds numerous securities licenses. He is registered as an investment adviser (Series 65) and holds the license for securities principal (Series 24) and for securities representative (Series 7) with the National Association of Securities Dealers (NASD).

Additionally, at the Chicago Bar Association, Mr. Eccleston: 1) is a past co-chair of the Securities Law Committee; 2) is a past chair of the Investment and Financial Services Committee; and 3) is a past co-chair of the Litigation and Enforcement Sub-Committee of the Securities Law Committee.

The well-known Martindale-Hubbell Rating System has awarded Mr. Eccleston (as well as the law firm) the highest rating for Legal Ability and General Ethical Standards, the distinguished "AV" rating.¹ Martindale-Hubbell defines this rating as follows: "An AV rating reflects an attorney who has reached the heights of professional excellence. He or she has usually practiced law for many years, and is recognized for the highest levels of skill and integrity".

In 2006 and in 2005, Law & Politics named Mr. Eccleston a "Super Lawyer" in Illinois. As published in Chicago Magazine, and available at www.superlawyers.com, the Super Lawyer designation is awarded to the Top 5% of lawyers in a particular state, as chosen by the lawyers' peers and through independent research. Likewise, in 2006, Mr. Eccleston was awarded the distinction of "Leading Lawyer". This distinction is earned by less than 5% of the lawyers in a particular state and is based upon recommendations by peers.

Among Mr. Eccleston's notable achievements, as reported in the Wall Street Journal, he obtained one of the first arbitration awards against an on-line brokerage firm for its mishandling a customer order and other sales practice violations. He won the first arbitration award against a major brokerage firm for failing to disclose tax consequences and failing to protect a concentrated stock position resulting from the exercise of employee stock options, and in 2006 obtained nearly $1.5 million in settlement for a similar failure to hedge and implementation of a speculative, naked put selling strategy. In 2003, he obtained a $2.8 million award for a customer whose account had been excessively traded and to whom the broker had sold unsuitable investments. In 2004, Mr. Eccleston assisted litigators at the firm obtain a federal court jury verdict against a bank and trust company for failing to prudently invest a retiree's account by concentrating investments in technology and telecommunications stocks. In that year he also obtained an arbitration award against a brokerage firm for making unsuitable recommendations of third party (separate account) money managers.

Among Mr. Eccleston's notable achievements representing financial advisers. Mr. Eccleston has won substantial arbitration awards for compensatory damages resulting from wrongful termination and Form U-5 defamation. These awards have included Form U-5 amendments to remove defamatory language as well as declaring an outstanding promissory note balance to be null and void. In 1991 Mr. Eccleston obtained the largest jury verdict ever at the time in Cook County, Illinois for a defamation and wrongful termination for a business executive. Mr. Eccleston frequently assists financial advisers with various regulatory, employment and business matters as they move from one firm to another.

Mr. Eccleston frequently is quoted in the press, including the Wall Street Journal, the Chicago Tribune, the Chicago Sun-Times and Registered Representative magazine. For example, his comments appeared in the January 2002 Smart Money article entitled, "Ten Things Your Financial Planner Won't Tell You" as well as the October 7, 2002 Chicago Tribune article entitled, "Change in Brokers' Role Boosts Complaints". In May, 2006, Wealth Manager prominently quoted him in connection with assisting investment advisers comply with SEC regulations, and during that same month, Wall Street Letter quoted him on brokerage firm non-solicitation agreements with financial advisers. He has been a guest on various radio talk shows and on CNN national television. Mr. Eccleston has appeared several times on PBS Television to discuss investor issues, such as investment frauds, the imprudence of using home mortgages to purchase investments and how investors can protect themselves against confusing and often misleading research analysts' stock ratings.

Among other professional publications, he is the co-editor and contributing author, Securities Law, Illinois Institute for Continuing Legal Education (IICLE), 2003 Edition, writing the chapter, "Securities Arbitration". He wrote, "The 'Sophisticated Investor' Dichotomy: A Legitimate Defense to Suitability Claims?", published in Securities Arbitration 2005 (Practicing Law Institute). He also is the legal columnist for the Chicago Daily Law Bulletin (a lawyer's daily), Debits and Credits (an accountant's monthly) and the Chicago Lawyer (a lawyer's monthly). For 7 years he was the monthly legal columnist for On Wall Street (a national stockbroker's monthly) and now writes for Advising Boomers magazine. His works also have been published by Physician's Money Digest, the Agent's Sales Journal and MyCFO.com.

Additionally, Mr. Eccleston speaks to bar associations, investor groups, and financial professionals regarding securities laws and brokerage operations. Among numerous other speaking engagements, Mr. Eccleston was honored to be a member of the faculty for the highly acclaimed Practicing Law Institute's program, "Securities Arbitration 2005; Telling Your Story". Mr. Eccleston spoke on three topics: Is There a Story Worth Telling; Quantifying Suitability, Risk and Damages; and Telling Your Story with Demonstrative Evidence. He was chosen to speak at the 86th Annual Conference of the North American Securities Administrators Association (NASAA) on the topic of, "What's New on the Street," to assist state securities regulators protect investors. Likewise, Mr. Eccleston was chosen to speak before the National Association of Personal Financial Advisors (NAPFA) at both its 2006 Midwest Region Conference and its 2006 National Conference regarding avoiding customer complaints. Most recently, he spoke before the Illinois CPA Society regarding securities compliance and regulatory issues.

Mr. Eccleston is qualified as an arbitrator (chairperson) as well as a mediator with the NASD and has served as an arbitrator and a mediator. He is a member of the Compliance and Legal Division of the Securities Industry Association (SIA) as well as a member of the Public Investors Arbitration Bar Association (PIABA). Mr. Eccleston is a director of the Chicago Loop Council of the Financial Planning Association (FPA) as well as the Investment Management Consultants Association (IMCA). He also is a member of the Union League Club of Chicago, chairing its Financial Services Group and a member of its Members Activities Committee.

Mr. Eccleston attended the University of Chicago, earning his BA in politics, economics, rhetoric and law. He received his Masters Degree (MA) from Boston College. He graduated cum laude from Suffolk University Law School with a Doctor of Jurisprudence (JD) in 1987. He is admitted to practice law before the courts of Illinois and Massachusetts, as well as the United States Tax Court.

Find out more about James Eccleston at SNSFE Law.com.

Jeffrey M. Gershon

Jeffrey M. Gershon is an associate attorney with Shaheen, Novoselsky, Staat, Filipowski & Eccleston, P.C. He concentrates his practice areas in securities regulatory defense, securities arbitration and compliance matters for broker-dealers, and investment advisers before the Securities and Exchange Commission, the NASD, and securities regulators in all fifty states.

Mr. Gershon was the Chief Deputy Commissioner of the Indiana Securities Division where he headed the Enforcement Section. In his capacity as Chief Deputy Commissioner, Jeffrey worked with the SEC, NASD, FBI, U.S. Attorney's Office, county prosecutors and state securities regulators. He also drafted securities regulations and assisted in securities education programs. In addition to his role as Chief Deputy Commissioner, Mr. Gershon acted as an enforcement attorney where he represented the State of Indiana in enforcement proceedings against broker-dealers and investment advisers.

Mr. Gershon was an associate with the law firm of Wyrick, Robbins, Yates & Ponton LLP in Raleigh, North Carolina where he practiced in the securities regulatory group. Mr. Gershon received his BA from the University of Arizona. He graduated from Thomas M. Cooley Law School with a Doctor of Jurisprudence (JD). He is admitted to practice law before the courts of Illinois, Indiana, and North Carolina, and before the United States District Courts for the Northern District of Illinois, the Northern District of Indiana, and the Southern District of Indiana. In addition, Mr. Gershon is a member of the Chicago Bar Association where he is the Vice-Chair of the Financial and Investment Services Committee and the National Society of Compliance Professionals. Most recently, Mr. Gershon spoke before the Illinois CPA Society regarding securities compliance and regulatory issues.

Find out more about Jeffrey Gershon at SNSFE Law.com.

Ronald M. Amato

Ronald M. Amato is an associate attorney with Shaheen, Novoselsky, Staat, Filipowski & Eccleston, P.C. Mr. Amato has extensive experience representing public investors, as well as registered representatives, in securities arbitration and litigation. He frequently represents investors in matters involving unsuitable investments, violations of state and federal securities laws, breach of fiduciary duty, and negligence. Additionally, Mr. Amato has represented investment professionals in employment- related disputes, and in responding to regulatory inquiries.

Prior to attending law school, Mr. Amato was employed as a registered representative and assistant branch office manager at a national broker-dealer. While working in the securities industry, Mr. Amato gained valuable "hands-on" experience working with a variety of investment products, including equities and options. He has held a license for securities representative (Series 7, Series 63) with the NASD.

While attending law school, Mr. Amato was a law clerk at a Chicago firm representing national broker-dealers in securities arbitration. Mr. Amato is a graduate of the Chicago-Kent College of Law where his studies focused on corporate law and securities regulation. He attended Northern Illinois University where he received a BA in economics.

Mr. Amato is admitted to practice law in the State of Illinois and before the United States District Court for the Northern District of Illinois. He is a member of the Chicago Bar Association where he is an active participant in the Securities Law Committee.

Find out more about Ronald Amato at SNSFE Law.com.

Websites

James J. Eccleston sponsors www.financialcounsel.com, a nationally recognized website, where readers can access investor alerts, articles, and other information on a host of investment and financial planning topics. For information relating to the other practice areas of Shaheen, Novoselsky, Staat, Filipowski & Eccleston, P.C., visit www.snsfe-law.com.

Contact Information

20 North Wacker Drive
Suite 2900
Chicago, Illinois 60606-9719
312-621-4400
312-621-0268 (fax)

¹ CV, BV and AV are registered certification marks of Reed Elsevier Properties, Inc. used in accordance with the Martindale-Hubbell certification procedure standards and policies. Martindale-Hubbell is the facilitator of a peer review process that rates lawyers. Ratings reflect the confidential opinions of members of the Bar and the Judiciary. Martindale-Hubbell ratings fall into two categories-legal ability and general ethical standards. Legal Ability Ratings are: "C" - Good to High; "B" - High to Very High; and "A" - Very High to Preeminent. There is one general ethical standard rating - "V" or "very high" - and an attorney must receive it in order to be rated.