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The case has big implications for similar state programs that require small businesses with as few as five employees to provide retirement plans, unless they register for the state-sponsored option.
The former broker, Dalas Gundersen, sued Edward Jones in 2015, seeking damages, after three fake gay-sex ads were posted on Craigslist earlier that year listing his business phone number.
TIAA settled claims in July from the SEC and New York State. Deloitte was recently sued over its plan, and Aon prevailed in a lawsuit.
UBS Financial Services misreported interest paid on taxable munis, resulting in higher tax bills for clients, according to a lawsuit.
The company recently received summary judgment in the case filed against it. Another company, Wesco Distribution, won a motion to dismiss in a separate case, and tech firm PTC appears to have reached a settlement in another.
The son of a man murdered by a Colombian guerrilla group had sued for access to a 401(k) account connected to the perpetrators.
The trader, Keith Wakefield, was charged with one count of securities fraud, which carries a maximum sentence of one year in prison.
In other cases, claims have been dismissed against several plan sponsors, including Prudential and Eversource Energy.
The broker, Barry Snyder, was 'hooked' on a hamburger chain stock, says the ex-wife's attorney,
A state judge in Tennessee, where Ramsey Solutions is based, granted a motion to compel Ramsey's deposition in the Timeshare Exit Team case.
The Securities and Exchange Commission charged that from at least 2014 until 2019, Buttonwood took steps to avoid paying transaction costs by focusing client investments in more expensive mutual funds.
The court granted a motion to dismiss the claims against the company, although the plaintiffs have 30 days to amend their complaint to address its shortcomings.
Keith Gill’s employment at MML Investors Services overlapped with his involvement in the GameStop and meme stock frenzy that occurred in late 2020 and early 2021, according to the regulator.
Comparing actively managed funds on the plan menu to index funds that were available was not an ideal comparison, according to the court.
The pop star’s attorney calls the court filing a ‘vindication’ of her efforts to regain independence.
Defendants in the long-running case have been ordered to pay restitution to more than 200 plans. Assets were allegedly siphoned from benefits payments to buy property and used for other personal expenses.
A North Carolina Bankruptcy Court decided that inherited 401(k) accounts do indeed receive creditor protection under ERISA as long as the funds are still in the plan at the time of the bankruptcy filing.
When Louis Hanna was fired in 2017, he was 50 years old, had early-stage prostate cancer and was seeking medical leave, according to the complaint.
The plaintiff allegedly lost $24,000 when the fund was removed from the plan and his assets were transferred to a target-date fund.
The development in the 403(b) plan case is considered a victory for the law firm Schlichter Bogard & Denton, which several years ago led a legal crusade against universities and other plan sponsors.