Cotchett, Pitre & McCarthy represents individuals, businesses and public institutions in a variety of actions relating to both economic and major injury cases. Currently, Cotchett, Pitre & McCarthy is investigating the following cases:

• Investigation of Property Tax Assessor Records Corp. (PTARC) Scam
  On behalf of its clients, Cotchett, Pitre & McCarthy is investigating claims against PTARC for its deceptive practices, which involve sending out solicitations that are misleading, deceptive and violate California law in that they appear to be a document sent from a government entity, the county assessor’s office. PTARC does not adequately disclose that they are not a government entity; that their solicitations are not a billing statement; that they are offering a service that the consumer is not required to purchase; and that the consumer can perform these services on their own for free. In many instances, PTARC did not even perform any services on behalf of the consumers who paid the processing fee.
  
  Cotchett, Pitre & McCarthy is investigating claims on behalf of consumers who received a solicitation from Property Tax Assessor Records Corp. and paid the processing fee. For additional information and assistance, contact Cotchett, Pitre & McCarthy at TAKE ACTION.
   
     
• Investigation of U-Haul Moving Equipment
  On behalf of its clients, Cotchett, Pitre & McCarthy is investigating claims against U-Haul for its deceptive practices, which involves charging customers for an additional rental "term" for returning the vehicle after the designated rental time but within the same day. Additionally, these persons may have been charged for CDW, "safe move", or similar coverage for an additional rental term. Plaintiffs allege during the reservation, U-Haul representative specifically ask "about how many hours" the potential customer intends to use the rental truck. Once the customers provides a time, they unwittingly have entered into a fixed "rental period" which they are contracted to return the rental truck. At the end of the reservation the U-Haul representative obtains a credit card number and places a deposit to hold the vehicle on the credit card. For in town rentals, which are widely advertised on every truck and through common advertisements in all significant yellow phone books, no promotional brochures or description of terms or rates are mailed to the customer following a telephone reservation. If the rental truck is returned after the "rental period" the consumer is charged for an additional rental "term."
  
  Cotchett, Pitre & McCarthy is investigating claims on behalf of consumers who rented from U-Haul. For additional information and assistance, contact Cotchett, Pitre & McCarthy at TAKE ACTION.
   
     
• Bernard L. Madoff Investment Securities LLC
  On behalf of its clients Cotchett, Pitre & McCarthy is investigating the alleged fraudulent scheme perpetrated by Bernard L. Madoff ( "Madoff") through the investment firm he founded almost 50 years ago, Bernard L. Madoff Investment Securities LLC.
  
  According to a complaint filed by the United States Securities and Exchange Commission and related filings, investors around the world lost billions of dollars in what appears to be the biggest Ponzi scheme ever. Madoff was charged with securities fraud on December 11, 2008.
  
  Madoff's scheme preyed on charitable trusts, individuals, families, and others who were often introduced to Madoff through a "finder" or go-between. According to The New York Times, initially Madoff "tapped local money pulled in from country clubs and charity dinners, where investors sought him out to casually plead with him to manage their savings so they could start reaping the steady, solid returns their envied friends were getting." "Then he and his promoters set sights on Europe, again framing the investments as memberships in a select club." Madoff's scheme reached investors in the Persian Gulf and Southeast Asia.
  
  Cotchett, Pitre & McCarthy is pursuing claims on behalf of defrauded investors. Many of the victims made investments with investment funds, which ended up being managed by Madoff.
  
  For additional information and assistance, contact Cotchett, Pitre & McCarthy at TAKE ACTION.
   
   
• Subprime Mortgage Foreclosure Litigation
  Cotchett, Pitre & McCarthy is investigating the abusive predatory lending practices in the subprime home mortgage industry. If you feel you have been victimized by predatory home lending practices and are facing foreclosure, please contact us at TAKE ACTION to explore your legal rights. The subprime mortgage foreclosure crisis threatens thousands of homeowners and their families. According to newspaper and research reports, the number of scheduled foreclosure sales and defaults in core areas of California exceeded a half million during 2008, up 132 percent from 2007. Lenders, working in a fraudulent scheme with appraisers and mortgage brokers, offer lucrative loans based solely on the home's equity, even when it is clear that the homeowner cannot afford the required payments. To convince the homeowner to take the loan or to refinance an existing loan, they inflate the appraised value of the home. The lenders and appraisers are motivated by the fees or commissions generated by the loan, regardless of the consequence to the borrower. For many, the motivation is the ultimate foreclosure on the house which can then be resold for a profit.
   
• Subprime Mortgage-Backed Securities Losses
  In addition to the investigation into subprime credit (see below), Cotchett, Pitre & McCarthy is investigating potential fraud in the subprime mortgage industry. Acting on several inquiries from individual investors and business entities, the investigation is focusing on whether investment banks and lenders knew about the risks of mortgage securities backed by subprime loans and whether they hid those risks from investors. The background: In years past, borrowers simply got loans from the neighborhood bank, which held the mortgage risk. Now that risk has expanded dramatically — subprime mortgages are bundled together and sold to investors, with credit-rating agencies offering advice. According to media reports, lenders wrote $625 billion in subprime mortgages in 2005, nearly four times the total in 2001. The boom brought in big fees to mortgage brokers, lenders, banks and ratings agencies. However, dropping home prices are now hurting those players, with global banks reportedly ousting executives and writing off nearly $150 billion since mortgage securities began collapsing last summer. If you feel you have been victimized by investing in securities back by subprime mortgages, please contact us at TAKE ACTION to explore your legal rights.
   
• Credit Card Counseling Industry Cases: Suit names Chase, Money Management International and Investigates Others
  Cotchett, Pitre & McCarthy is continuing its investigation into fraudulent "debt counseling" and debt collections in the subprime credit industry. The suit, filed in U.S. District Court in Los Angeles by Cotchett, Pitre & McCarthy and co-counsel, named JP Morgan Chase & Co., Chase Manhattan Bank USA, Money Management International (MMI), also known as Consumer Credit Counseling Service (CCCS), and Money Management By Mail Inc. The suit and investigation arise out of the relatively new sub-prime credit counseling industry. The industry was created by the nation's leading creditors (including leading credit card companies) to use third party, allegedly non-profit "credit counseling" organizations, to secretly facilitate their collections from unsuspecting customers who were in financial distress and had turned to what they thought were non-profits for financial help. The complaint alleges that Money Management International Inc. (MMI) and others advertised and promoted themselves as non-profit credit counseling organizations whose main purpose was to act on behalf of the consumer. These companies were in fact operating as agents of the consumers' creditors, including Chase, according to the complaint. These agencies claimed in their advertisements that they would "negotiate" on behalf of consumers with Chase and other credit card companies to whom consumers owed money — however, as alleged in the Complaint, there was no real "negotiation" — instead there were back room deals between the creditors and the "counseling" agencies designed to collect as much money as possible from unsuspecting consumers. The complaint alleges: MMI and others were nothing more than debt collectors that, even according to Chase's own documents, "partnered" with Chase to collect its accounts under the guise of "rescuing" consumers drowning in debt; The agencies, in reality, operated as for-profit organizations, distributing monthly payments they collected from consumers to Chase, while keeping a share for themselves — effectively a payment by Chase that was kept hidden from the consumers; and the agencies also failed to provide comprehensive financial counseling that communicated all options open to indebted consumers. For example, the agencies as a matter of practice failed to discuss bankruptcy as a viable option since that would cut off the flow of money to the creditors. The lawsuit seeks to recover monies wrongfully obtained from consumers (including Chase credit card holders) who were indebted to Chase and/or who contracted for credit repair and debt management plan services from MMI or credit counseling agencies that MMI has taken over. If you feel you have been victimized by subprime credit "counseling," please contact us at TAKE ACTION to explore your legal rights.
  
  In addition to the current litigation against MMI, Cotchett, Pitre & McCarthy is investigating claims on behalf of consumers who received credit counseling services from the following credit “counselors”:
  

  AFS
  American Financial Solutions
  American Consumer Credit Counseling
  Care One Credit Counseling
  Consolidated Credit Counseling Services
  Express Consolidation
  Family Credit Counseling
  Genus Credit Management
  Greenpath
  InCharge Debt Solutions
  Lighthouse Credit Foundation
  Novadebt
  Take Charge America
  Zero Balance Debt Management
  

   
• Bank Trust Fees
  As part of a class action lawsuit filed on August 31, 2005, Cotchett, Pitre & McCarthy currently is investigating allegations that Wells Fargo Bank has improperly profited from its administration of trusts. Wells Fargo is accused of collecting tens if not hundreds of millions of dollars in improper and undisclosed payments, to the detriment of trust clients, dating back to 1980. As trustee, Wells Fargo is precluded from investing trust assets in any manner that results in a benefit to itself or any affiliated party. However, according to the lawsuit, the bank "has engaged in a pattern and practice of investing trust assets in such a way as to produce substantial additional and undisclosed payments for Wells Fargo and/or its affiliates." If you have a trust with Wells Fargo, please contact us at TAKE ACTION to explore your legal rights. 
   
• Natural Gas Litigation
  A major Cotchett, Pitre & McCarthy investigation is focused on the widespread manipulation of retail natural gas prices in California as part of the firm's representation of both public and private entities in lawsuits against the country's major gas providers accusing them of gouging consumers out of billions of dollars. The suits allege that a number of producers, marketers, traders, transporters, distributors and/or sellers of retail natural gas caused California gas prices to escalate to about six times the national average because of the gas providers' "unfair and deceptive conduct" during the state's energy crisis. The Cotchett, Pitre & McCarthy investigation is focusing on the artificial inflation of natural gas retail prices resulting from the reporting of false sales to the publishers of the industry's natural gas price indices. As a result the indices published false information, driving up the price for natural gas. Other schemes under investigation involve "churning" and "wash trades." Churning involves the rapid buying and selling of natural gas to inflate its price. In wash trades, gas providers entered into sham transactions for the simultaneous purchase and sale of the same amount of natural gas for the same price to create the illusion of high demand and increased prices. Cotchett, Pitre & McCarthy has filed suits on behalf of City and County of San Francisco, Santa Clara County, and San Diego County and is finalizing its investigation on behalf of other entities. For information, contact us at TAKE ACTION concerning public entities and large businesses victimized by manipulated natural gas prices.

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