Results for "lawsuits"

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Former executive at Securities America feared a "run on the bank'

August 16, 2009

A former top executive of Securities America feared “a panicked run on the bank” from clients who invested in private securities of Medical Capital Holdings Inc., which the Securities and Exchange Commission sued last month for fraud. Medical...

Ex-rep claims discrimination in lawsuit

August 16, 2009

A former broker with Wells Fargo Advisors LLC of St. Louis has sued the firm for sexual discrimination. Helen Berenyi, a legacy Wachovia Securities LLC broker who worked in the firm's Charleston, S.C., office, claims she was denied a fair share...

NFP liability in question after its affiliate is sued

August 9, 2009

Attorneys and executives at broker-dealer firms are questioning the extent of National Financial Partners Corp.'s potential liability in a civil suit involving a failed life settlement transaction at an NFP affiliate. In the suit filed in Ohio...

Employees name investment adviser in 401(k) suit

July 19, 2009

New targets have surfaced for lawsuits over 401(k) fees: small retirement plans, their investment advisers and service providers. A group of fewer than 30 em-ployees at a small company in Kansas has filed a lawsuit against the investment adviser,...

Finra sank his job chances, attorney says

June 21, 2009

A Florida attorney claims that the Financial Industry Regulatory Authority Inc. derailed his bid to become the state's top financial watchdog in retaliation for a previous legal dispute he had with the regulator. Kevin Carreno maintains that...

After settlement, firm eyes widow of rogue adviser

June 21, 2009

A financial planning firm has settled all but one claim related to an embezzlement scheme conducted by a rogue adviser over an eight-year period ending in March 2008. Hantz Financial Services Inc. of Southfield, Mich., refused to release details...

Former chief executive sues First Allied

June 14, 2009

Keith Gregg, former president and chief executive of First Allied Securities Inc. of San Diego, is suing the firm, claiming that he was forced out after complaining about improper practices at the company. Officials at the firm deny the charges...

Smith Barney charges broker breached a contract

May 31, 2009

Smith Barney is not letting at least one of its brokers break away without a fight. The Citigroup Inc.-owned brokerage behemoth has hit a former adviser with litigation claiming that he improperly pursued clients and used confidential information...

Ex-Smith Barney adviser hit with lawsuit, restraining order

May 26, 2009

Smith Barney has hit a former adviser with a lawsuit, an arbitration claim and a restraining order, claiming that the rep improperly pursued clients and used confidential information after he resigned from the brokerage arm of New York-based...

'Stranded' ARS investors sue for a share of pie

May 24, 2009

Investors and financial advisers who are stuck holding auction rate securities bought from “downstream” broker-dealers have begun to step up their legal claims against the major firms that marketed the investments as safe. A new class of these...

OppenheimerFunds faces heat from 529 plans

May 3, 2009

OppenheimerFunds Inc.'s hot streak in the Section 529 college savings plan business is coming to an end. The fallout from the implosion of OppenheimerFunds' Core Bond Fund, which lost 36% of its value last year, has become a major albatross...

Ex-Janus manager sues for $3.8M in wages and compensation

May 1, 2009

A Denver district court is slated to hear the case Monday of a former employee of Janus Capital Management Group Inc. who charged the firm with breach of contract. The complaint, filed against the Denver-based firm’s subsidiary Janus Management...

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