Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Robinhood Must Face Market Manipulation Claims Over Meme Trading
By Peter BlumbergA Miami judge dismissed some allegations against the platform, but is allowing others in a class-action lawsuit to move forward.
August 09, 2022
90-Year-Old Ex-Morgan Stanley Broker Who Shot Business Partner DiesThe Oklahoma City Police Department says it is "not investigating the death as anything criminal in nature."
August 09, 2022
Wells Fargo Wins Appeal in FINRA Arb Case"Nothing indicates that Wells Fargo manipulated the arbitrator pool," the appeals court in Georgia ruled.
August 05, 2022
Ex-Rep Booted Over Claims of Racism Sues LPL for $95MThe broker-dealer ended its affiliation with Eileen Cure after claims surfaced online that she had refused to hire Black job-seekers.
August 03, 2022
Ex-Advisor Sentenced to Almost 22 Years in Prison Over Fake-Annuity ScamThe former Allstate, LPL and Merrill Lynch broker was convicted of stealing over $9.3 million from clients.
August 02, 2022
Citigroup, Genworth Face Lawsuits Over BlackRock TDFs in Their 401(k)sRetirement plan participants have sued at least six companies since Friday over the "underperforming" target date funds.
July 27, 2022
SPAC Cases Lead Securities Class-Action Filings: Cornerstone ResearchPlaintiffs filed 110 new securities class-action lawsuits in federal and state courts in the first half of 2022.
July 25, 2022
September Court Date Set for LPL Network Firm Employee Charged in Double MurderRamy Fahim was charged with killing a co-worker and his roommate; he could face the death penalty.