Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Gramercy Advisors Sues Jacksonville Jaguars Owner in Tax Avoidance Case
By Melanie WaddellBillionaire Shahid Kahn sued Gramercy after the IRS and state authorities disallowed tax losses he had claimed.
October 04, 2021
SEC Charges Stock Trading Webcast Host in Pump-and-Dump SchemeThe former broker already pleaded guilty, in a parallel action, to conspiracy to commit wire and securities fraud.
October 04, 2021
Bill Gross Found in Contempt of Court, Gets Suspended Jail TimeAfter flouting a judge's order not to annoy his neighbor with loud music, the Pimco co-founder must pay $1,000 and do two days of community service.
October 01, 2021
Barred Broker Who Bankrupted BD Is Charged With Fraud: DOJThe broker's unauthorized speculative bond trading cost his employer and others over $30 million, according to the SEC and DOJ.
October 01, 2021
Supreme Court to Hear Ex-Ameriprise Advisor's Arb Case ChallengeAdvisor Denise Badgerow had alleged she was fired from Ameriprise affiliate REJ Properties in retaliation for reporting the conduct of REJ's principals.
September 30, 2021
Class-Action Suit Over Allstate 401(k) Plan Can Go ForwardA judge has dismissed a motion to drop a suit against Allstate and its plan fiduciaries for mishandling 401(k) management choices.
September 29, 2021
DOJ, SEC Charge Ex-Advisor With Bilking 3 Older ClientsThe ex-broker used the money to pay for luxury cars, vacations, private school tuition and a gold necklace, according to the authorities.
September 28, 2021
Wells Fargo to Pay $37M to Settle Fraud LawsuitThe case involves 771 clients, including businesses and banks, that were charged too much for foreign-exchange transactions.