Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Judge Orders Ambassador Advisors to Pay $2M Over 12b-1 Fee Infractions
By Melanie WaddellIn March, a jury ruled in favor of the SEC against Ambassador Advisors and three of its executives.
September 07, 2022
Oppenheimer Fights $37M Arb Ruling Tied to Ponzi SchemeA FINRA panel said the BD must pay damages to investors allegedly bilked in a scheme run by a former rep.
September 07, 2022
BlackRock Seeks Crackdown on Copycat Domain NamesIn a lawsuit, the giant asset manager says more than 30 domain names are "confusingly similar" to the BlackRock trademark.
September 02, 2022
Edward Jones Underpaid Female Advisors, Class-Action Suit SaysA former advisor takes issue with the firm's assertion that it has identified pay gaps and "addressed" them.
September 01, 2022
Ex-Merrill Rep Settles Smoothie Lawsuit for $7,500James Iannazzo's lawyer called the settlement a "token payment."
August 31, 2022
Up Next at Supreme Court: How Much Tax Pain Should Expats Face?The U.S. is unique in the level of tax torment it imposes on citizens abroad. But the justices could show mercy.
August 29, 2022
Barred Broker Sentenced to 7 Years for FraudMichael Francis Shillin's pretrial probation was revoked after he took an unauthorized Caribbean trip.
August 23, 2022
Leader of $310M Ponzi Scheme Involving Hundreds of Advisors Gets 10 Years in PrisonScott Kohn conspired with a vast network of advisors and agents to scam veterans and retirees, DOJ said.