Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Ex-Broker Gets 35 Years in Prison for $25M Scam Targeting Seniors
By Jeff BermanThe ex-rep and his co-conspirators sold speculative securities and pocketed much of the proceeds, prosecutors said.
September 14, 2021
Schwab Faces Class-Action Suit Over Cash SweepsThe firm violated its fiduciary duties by "wrongfully overconcentrating" Schwab Intelligent Portfolios accounts in cash, the plaintiffs allege.
September 13, 2021
Barred Broker Admits Orchestrating $100M Ponzi SchemeShe faces up to 20 years in prison and a $5 million fine after pleading guilty to securities fraud.
September 10, 2021
Ex-Advisor Loses Appeal, Gets 40 Years in Prison for Ponzi SchemeThe former advisor, broker and owner of a Raleigh, North Carolina, financial services firm had been convicted in 2019.
August 31, 2021
Barred Long Island Broker Arrested Again for Defrauding InvestorsHe was accused of stealing $80,000 from clients who thought they were investing in shares of Airbnb, DoorDash and Petco.
August 31, 2021
2 Veteran South Florida Lawyers Sentenced for Financial FraudThe fraud affected more than 3,600 investors in 42 states, prosecutors say.
August 24, 2021
JPMorgan Settles With Advisors Who Jumped to LPL-Affiliated FirmThe temporary restraining order that J.P. Morgan Securities had obtained against the breakaway advisors has been lifted.
August 24, 2021
As RIA Arbitration Cases Climb, It's Time to Lawyer UpCustomer complaints should be taken seriously and responses crafted with professional guidance.