Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Dentist Turned Advisor Fined Over Fraudulent Offerings
By Jeff BermanThe advisor has agreed to pay $600,000 to settle allegations he engaged in three separate securities frauds, the SEC says.
June 03, 2021
Ex-Cetera Rep Gets 5-Year Prison Sentence for Defrauding ClientsThe former broker had pleaded guilty to wire and bank fraud on Jan. 14.
June 02, 2021
Ex-LPL Rep Pleads Guilty to Wire Fraud and Identity TheftThe barred broker allegedly misappropriated about $2.9 million from clients, according to the SEC and DOJ.
June 02, 2021
Northern Trust Sued Over 'Poorly Performing' Target Date FundsNorthern Trust loaded its retirement plan with proprietary funds that consistently underperformed, current and former employees allege.
June 01, 2021
'Investment Club' Operator Convicted of Running Ponzi SchemeThe defendant allegedly obtained over $2 million from almost 100 investors, lost some of it and used some for personal expenses.
June 01, 2021
Lawsuit Accuses Former Apollo CEO Leon Black of Defamation, Sexual ViolenceA woman says Black sexually harassed her, assaulted her and compelled her to sign an NDA. Black has denied the allegations.
May 27, 2021
Judge Leaves Fate of Mass. Fiduciary Rule Unclear in Robinhood CaseBut the judge allowed the state's case against the brokerage to proceed.
May 26, 2021
Woman in NYC Birdwatcher Case Sues Franklin Templeton in FiringIn an incident that went viral, Amy Cooper called the police on a Black birdwatcher in Central Park in May 2020.