Results for "lawsuits"

Displaying 830 results

Sort: Date | Relevance

Author:

Wells Fargo Advisors to fire back against former brokers suing it

October 19, 2018

Wells Fargo Advisors plans to fight back against two ex-brokers who sued the firm this month, claiming they lost business in the wake of the bank's scandals, by filing a counterclaim against them in industry arbitration. The advisers, John L....

Ex-Wells Fargo brokers sue for damages, claiming they lost business in wake of scandals

October 18, 2018

Two brokers who left Wells Fargo Advisors at the start of the month have sued the firm, along with Wells Fargo Bank, alleging that the steady stream of scandals over the past two years at the bank and brokerage substantially damaged their business....

Ex-Wells Fargo broker complaint wins class action status in fight over deferred compensation

October 16, 2018

A federal judge has granted class action status to a lawsuit brought by a financial adviser who claimed Wells Fargo Advisors cheated him out of $200,000 in deferred compensation. The adviser, Robert Berry, worked at Wells Fargo Advisors and...

Fidelity sued again for 401(k) plan mismanagement

October 11, 2018

Fidelity Investments Inc. has been sued by participants in its company 401(k) plan for alleged self-dealing that caused the firm to profit at the expense of its employees saving for retirement. The lawsuit filed against Fidelity — Moitoso...

Transamerica pays $195 million to settle lawsuit over universal life insurance

October 4, 2018

Transamerica Life Insurance Co. will pay $195 million to settle a class-action lawsuit alleging the company improperly increased the monthly charges on 70,000 universal life insurance policies. According to Harvey Rosenfield, an attorney with...

Discrimination claim filed by ex-Morgan Stanley rep sent to arbitration

October 4, 2018

In February, a black former Morgan Stanley registered rep sued the wirehouse, saying he was terminated following a "campaign of harassment," even after the settlement a decade ago of a class-action discrimination lawsuit. A federal judge on...

Another 403(b) plan sponsor beats back fee lawsuit

October 1, 2018

Washington University in St. Louis has won the dismissal of a lawsuit alleging it caused employees participating in the school's 403(b) plan to pay excessive fees for record keeping and investment management. Judge Ronnie L. White, who oversaw...

SEC charges $54 million Louisiana RIA and owners for cherry-picking scheme

September 20, 2018

The Securities and Exchange Commission on Thursday charged a Louisiana-based advisory firm and its two owners — a husband and wife — for defrauding clients via a cherry-picking scheme perpetuated over several years. World Tree Financial...

A market sell-off could mean more 401(k) lawsuits

September 10, 2018

The current bull market is nearly 10 years old. Unemployment is low in many industries, there are more 401(k) millionaires than ever before and wage growth is looking up. Anyone saving in a 401(k) is likely doing pretty well right now. However,...

How to keep your 401(k) clients out of court

September 10, 2018

While 401(k) lawsuits show no sign of letting up, the man at the forefront of class-action retirement plan litigation foresees a day when this will change. "Ultimately, it may be that 401(k) cases end because [retirement plan] sponsors change...

Star broker, now at Morgan Stanley, alleges sexual discrimination at UBS

September 7, 2018

Christine Carona was a star broker at UBS Group AG. In the Boston office, she managed more than $300 million and was a member of the President's Council, an elite club for top producers. So it was headline news in the trade press when Morgan...

JPMorgan Chase reaches settlement in race case

September 4, 2018

As racial diversity tumbles on Wall Street, JPMorgan Chase & Co. has reached a settlement with financial advisers who say they were treated poorly because they're black. Six current and former employees at the largest U.S. bank filed what they...

Former Wells Fargo broker could face 15 years in prison for embezzlement

August 16, 2018

A former Wells Fargo adviser, who was barred from the industry in 2015, is facing felony embezzlement charges for allegedly stealing more than $500,000 from a trust fund he was overseeing. David Homan of Saginaw, Mich., could face up to 15 years...

Deutsche Bank settles 401(k) self-dealing lawsuit for $21.9 million

August 15, 2018

Deutsche Bank has reached a $21.9 million settlement in a lawsuit alleging the investment bank enriched itself at the expense of its employees by loading its company 401(k) plan with proprietary funds. Deutsche's settlement, which still needs...

Finra panel awards clients $5 million for churning, but from defunct brokerage

August 14, 2018

The Financial Industry Regulatory Authority Inc. has slapped a defunct New York brokerage firm with a $5 million fine related to excessive account trading — churning — in what was supposed to be a conservative investment strategy. The challenge...

Ed Butowsky plans to serve Schwab with $100 million lawsuit Monday

August 10, 2018

Now that financial adviser Ed Butowsky has put two major defamation lawsuits behind him, he is refocusing his efforts on suing Charles Schwab Corp. for kicking his advisory practice off its custodian platform in January. Mr. Butowsky, managing...

Citigroup reaches $6.9 million settlement in 401(k) lawsuit

August 6, 2018

Citigroup Inc. has reached a $6.9 million settlement with plaintiffs in a more than decade old lawsuit alleging the financial services firm stuffed its retirement plan with expensive in-house investments, thereby enriching the company at the...

Appeals court upholds dismissal of Wells Fargo 401(k) lawsuit

August 6, 2018

A federal appeals court in St. Louis upheld a U.S. District Court judge's dismissal of an ERISA breach claim against Wells Fargo & Co. by a participant in the company's 401(k) plan, who alleged fiduciaries could have offered a better-performing...

Ohio brokerage tries to buck Finra settlement

August 6, 2018

After agreeing last month to pay a $275,000 arbitration settlement related to the actions of a rogue broker, Westminster Financial Securities is employing a unique legal strategy to renege on the award, according to the lawyer representing the...

Exonerated in defamation suits, Ed Butowsky is out for blood

August 6, 2018

The dismissal last week of two lawsuits against Plano, Texas-based financial adviser Ed Butowsky has not yet taken the form of a warm and fuzzy feeling. "Anybody who did anything negative to me as a result of the lawsuit will pay," Mr. Butowsky...

Next Page »

1 | 2 | 3 | 4 | 5 ... 42

X

Hi! Glad you're here and we hope you like all the great work we do here at InvestmentNews. But what we do is expensive and is funded in part by our sponsors. So won't you show our sponsors a little love by whitelisting investmentnews.com? It'll help us continue to serve you.

Yes, show me how to whitelist investmentnews.com

Ad blocker detected. Please whitelist us or give premium a try.