Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Ex-CEO Sentenced to 13 Years in Prison for Defrauding Investors
By Jeff BermanDavid P. Godwin, who formerly led the telecom firm ContinuityX, also much pay restitution of $9.3 million.
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.
October 11, 2021
Allianz Sued for 'Assessing a Surrender Charge on the Surrender Charge' in VAsThe insurer used a formula that inflated surrender charges on variable annuities, the plaintiffs say.
October 11, 2021
Coinbase Hit With Class-Action Suit for Failure to Register as an ExchangeCoinbase has denied that the digital assets it lists on the Coinbase Digital Asset Platforms are securities, the suit states.