Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Billionaire Robert Brockman Offers to Put Up $1.45B to Ease IRS Liens
By David VoreacosRobert Brockman is facing both criminal and civil charges that he evaded taxes on $2 billion in income and laundered money.
March 15, 2022
Vanguard Hit With Class-Action Suit Over Target Date Fund Tax BillsVanguard intentionally created a selloff resembling an "elephant stampede" when it slashed minimums for institutional TDFs, according to the suit.
March 10, 2022
Ex-Merrill Advisor Who Hurled Drink, Racist Insults Seeks ProbationFacing three charges, James Iannazzo is looking to apply for a pretrial probation program.
March 10, 2022
Sen. Warren Presses FINRA's Cook on Wells Fargo Arb RulingWarren and Rep. Katie Porter, D-Calif., say Cook failed to answer earlier questions about FINRA's handling of the case.
February 28, 2022
2 Members of $20M Scam Convicted, Could Face Rest of Lives in PrisonThe Arizona and California men are the latest players in the multi-state conspiracy that deceived hundreds of mostly older investors.
February 28, 2022
The Big Mistake That Leaves Advisors Open to LawsuitsToo many brokers and advisors skip a crucial step when joining a firm, legal experts like Brian Hamburger say.
February 25, 2022
Wells Fargo Appeals FINRA Arb Ruling Struck Down in CourtWells Fargo is appealing a Georgia judge's ruling that Wells Fargo and its counsel manipulated FINRA's arbitrator selection process.
February 24, 2022
Ex-Broker Gets 2 Years in Prison for Social Security Fraud, Stealing From ChurchThe former advisor was convicted of stealing more than $370,000 in disability benefits and $20,000 from a church.