Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Schwab Asks Court to Dismiss Class-Action Suit Over Cash Sweeps
By Jeff BermanThe firm says the case should be dismissed "for lack of jurisdiction" and a "failure to state a claim on the merits."
November 04, 2021
Ex-Wells Fargo Broker Barred by FINRA Over Ponzi SchemeThe former broker and Wells Fargo were among those named in a complaint last year by disgruntled investor.
November 04, 2021
Ex-Broker Used Client Funds to Pay Taxes, Buy Race Car Items: DOJA federal grand jury returned a seven-count indictment charging the former broker with fraud.
November 03, 2021
Ex-Advisor Gets 3 Life Sentences for Bilking Senior Churchgoers in TexasWilliam Neil "Doc" Gallagher, a radio personality, ran a $32 million scam, prosecutors say.
October 29, 2021
Ex-Wells Fargo Rep Arrested, Charged With Stealing $2.9MThe former wirehouse broker allegedly used client money to pay off his credit cards, gamble and buy gold.
October 28, 2021
SEC Orders Investment Firm Owner to Pay $1.2M Over Ponzi SchemeAMV Investments owner Ann M. Vick fraudulently raised about $3.2 million from almost two dozen investors, the SEC alleges.
October 19, 2021
TIAA Sues Ex-Advisors for Allegedly Soliciting ClientsThree advisors left TIAA to start Tidewater Wealth Management and allegedly tried to take clients with them.
October 18, 2021
The SEC Is Bringing Novel Insider-Trading CasesIt's taking an increasingly aggressive approach toward material nonpublic information, even in non-insider trading cases.