Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Morgan Stanley Sued Over Low Interest Rates on Client Cash
By Dinah Wisenberg BrinThe wirehouse pays a fraction of what firms like Vanguard pay in similar accounts, the suit says.
June 21, 2024
More SEC Rules in Peril With Private Fund Rule StrikedownTwo of the SEC's main rulemaking statutes hang in the balance after the recent Fifth Circuit decision.
June 21, 2024
Trial Date Set for Ex-Broker Charged With BofA Exec's MurderA jury trial for Anthony Duwayne Turner, accused of killing Michelle Avan, is scheduled to start Sept. 9.
June 20, 2024
Former FBI 'Most Wanted' Advisor Pleads Guilty to Fraud, Money LaunderingWilliam Jack Berg schemed to obtain investors' money under fraudulent pretenses, prosecutors said.
June 20, 2024
Prudential Faces Two Federal Suits Over CyberattackThe plaintiffs are asking whether the life and annuity issuer told them about the breach quickly enough.
June 20, 2024
Fugitive Ex-Advisor Who Appeared on CNBC Arrested on Fraud ChargesJames Arthur McDonald Jr. allegedly lost over $30 million, then solicited millions from investors for a purported capital raise.
June 20, 2024
MOVEit Cyberattack Suits Could Get a FrameworkThe data security breach affected more than 26 million users' life insurance, annuities and retirement savings programs.
June 11, 2024
How a New Supreme Court Ruling Could Affect Business Owner ClientsOne reaction: Users of buy-sell agreements should take the disclaimers about consulting with tax advisors seriously.