Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Groups Move to Support Advisor in Annuity Switching Case
By Jeff BermanThe SEC alleges that the annuity replacement scheme caused some clients to incur $640,000 in surrender charges.
August 24, 2023
Wells Fargo Faces John Hancock Suit Over Life Insurance IssueWhat happens when the owner of an insurance policy uses it as loan collateral and sells it through a life settlement?
August 24, 2023
Goldman, JPMorgan, Morgan Stanley & UBS to Pay $499M to Settle Stock-Lending SuitThe antitrust class action was bought by the Iowa Public Employees' Retirement System and other pension funds.
August 24, 2023
Schwab, TD Ameritrade Hit With Class-Action Suit Over MOVEit HackSchwab and TD waited nine weeks before telling the 61,000 affected customers about the breach, the suit says.
August 24, 2023
Prudential Sued Over MOVEit HackThe plaintiffs have proposed that the company provide 10 years of free credit monitoring.
August 18, 2023
Ex-Broker Gets Life in Prison for Crimes Tied to Death of ClientKeith Todd Ashley was found guilty of fraud and a gun charge; a murder case is pending.
August 17, 2023
Wells Fargo Discriminated Against Older Advisor, Suit ClaimsA senior advisor says his supervisors sent his clients to a younger advisor and performed other discriminatory acts.
August 17, 2023
Genworth Backs Consolidating Federal MOVEit Breach Suits in MassachusettsJohns Hopkins wants the cases against it to stay in Maryland.