Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Wells Fargo's $1B Fake-Accounts Settlement Gets Judge's OK
By Chris DolmetschThe securities class-action settlement brings the total the bank has agreed to pay to nearly $5 billion.
September 05, 2023
New Private-Funds Rules Hit With Court Action: SEC RoundupSeveral industry groups filed an action in a federal appellate court challenging the SEC's recent private funds rules.
September 05, 2023
Ex-Wells Fargo Exec Deserves Prison Over Fake Accounts, U.S. SaysThe former executive tried to conceal "one of the biggest banking scandals in modern history," prosecutors said.
September 01, 2023
Wells Fargo Persists in 'Lawless Ways,' Suit ClaimsSeparately, a judge dismissed another suit related to fake interviews allegedly conducted to meet diversity quotas.
September 01, 2023
TIAA Hit With Second Class-Action Suit Over MOVEit HackTIAA inadequately maintained its network and failed to provide timely notice to some 2.4 million clients, the suit argues.
August 31, 2023
Genworth Sued Over Personal Data Exposed in MOVEit HackThe breach may have exposed personal information, including Social Security numbers, of about 2.5 million Genworth clients.
August 31, 2023
Schwab, Creative Planning Sued Over $9.5M LossA "reckless and negligent stock options investment strategy" led to the loss of the client's Boeing stock, the suit claims.
August 30, 2023
Ex-Creative Planning Employees Sue Over Non-Compete AgreementsFour former employees say their employment agreements are illegal and prevent them from working in the industry.