Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Ex-LPL Broker Faces Up to 20 Years in Prison for Raiding Clients' Annuities
By Jeff BermanThe former broker has been charged with three counts of wire fraud, one count of mail fraud and one count of aggravated identity theft.
June 02, 2021
Ex-LPL Rep Pleads Guilty to Wire Fraud and Identity TheftThe barred broker allegedly misappropriated about $2.9 million from clients, according to the SEC and DOJ.
June 02, 2021
Northern Trust Sued Over 'Poorly Performing' Target Date FundsNorthern Trust loaded its retirement plan with proprietary funds that consistently underperformed, current and former employees allege.
June 01, 2021
'Investment Club' Operator Convicted of Running Ponzi SchemeThe defendant allegedly obtained over $2 million from almost 100 investors, lost some of it and used some for personal expenses.
June 01, 2021
Lawsuit Accuses Former Apollo CEO Leon Black of Defamation, Sexual ViolenceA woman says Black sexually harassed her, assaulted her and compelled her to sign an NDA. Black has denied the allegations.
May 27, 2021
Judge Leaves Fate of Mass. Fiduciary Rule Unclear in Robinhood CaseBut the judge allowed the state's case against the brokerage to proceed.
May 26, 2021
Woman in NYC Birdwatcher Case Sues Franklin Templeton in FiringIn an incident that went viral, Amy Cooper called the police on a Black birdwatcher in Central Park in May 2020.
May 26, 2021
How Will the Pandemic Change Regulation?Regulators and firms have learned that remote exams can eliminate a lot of overhead.