Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Commonwealth Hit With Class-Action Suit Over Cash Sweeps
By Melanie WaddellThe complaint claims breach of fiduciary duty, breach of contract, violations of consumer protection statutes and unjust enrichment.
June 22, 2026
Stifel Pays $3M to Settle Claim Over Barred Broker's Structured Notes StrategyAfter a $133 million award in April, the firm faces up to 19 additional complaints tied to Chuck Roberts.
June 22, 2026
Former CFA Executive Gets Up to 9 Years for EmbezzlementMichael J. Collins, CFA Institute's former chief marketing officer, was sentenced Monday in New York state court.
June 17, 2026
Man Who Bought Hundreds of Snowmobiles Admits to $14M Ponzi SchemeStanley Pophal used investor money to purchase 600 items, including motorcycles, for himself, according to prosecutors.
June 15, 2026
New York Tax Preparer Sentenced in $50M Ponzi SchemeMiles Burton Marshall had pleaded guilty to grand larceny, securities fraud and scheme to defraud.
June 12, 2026
Ken Leech Pleads Guilty to Obstructing SEC Probe Into $600M TradesThe former star bond trader admitted at a court hearing that he lied to the Securities and Exchange Commission.
June 08, 2026
LPL Faces Suit Over Clients' PHL Life and Annuity HoldingsThe plaintiffs say LPL advisors "intentionally left them in the dark" about the issuer's finances.
June 08, 2026
Cetera Hit With Class-Action Suit Over Cash Sweep ProgramThe BD paid interest rates as low as 0.06% as the federal funds rate surged, the suit says.