Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
SEC Charges 18 in Scheme Tied to Hacked Brokerage Accounts
By Jeff BermanOver 31 online retail brokerage accounts were hacked and improperly used to buy certain stocks and manipulate prices, trading volume.
August 11, 2022
Robinhood Must Face Market Manipulation Claims Over Meme TradingA Miami judge dismissed some allegations against the platform, but is allowing others in a class-action lawsuit to move forward.
August 11, 2022
Barred Broker Sentenced to 5 Years in Prison Over $7M Ponzi SchemeThe ex-broker used clients' funds on credit card and country club payments, as well as Red Sox tickets.
August 10, 2022
Morgan Stanley Sued by Ex-Broker Over Arb AwardThe firm's former registered rep alleged he was wrongfully terminated and defamed by the wirehouse.
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.