Litigation
Get the latest news and insights on litigation affecting financial advisors and the broader financial services industry.
Robinhood Reaches Settlement of Suits Over 2020 Trading Outage
By Steve StrothMultiple investors sued Robinhood in several states, mostly alleging restrictions by the trading platform that amounted to a breach of contract.
May 19, 2022
June Court Date Set for Suspect in BofA Exec Michelle Avan's KillingThe next hearing for Anthony Duwayne Turner will be June 17, according to the L.A. Superior Court.
May 19, 2022
Allianz Fund Managers' Paydays Could Be Followed by PrisonProsecutors say Tournant told investors safety was his top priority but secretly took undisclosed risks, resulting in fraud that cost them $7 billion.
May 17, 2022
Allianz Unit to Plead Guilty, Pay $5.8B Over Funds' CollapseThe total payout for the Structured Alpha Funds scandal includes a $1 billion fine to the SEC.
May 09, 2022
June Court Date Set for LPL Network Firm Employee Charged in Double MurderRamy Hany Mounir Fahim was charged with killing his co-worker at Pence Wealth Management and the co-worker's roommate.
May 05, 2022
Barred Broker Gets Over 9 Years in Prison for $100M Ponzi SchemeThe former broker was convicted of bilking more than 40 investors.
May 04, 2022
TurboTax to Pay $141M to Settle Claim It Duped ConsumersTurboTax lured customers with promises of free tax preparation only to "deceive them into paying for services," New York Attorney General Letitia James says.
April 29, 2022
Can Federal Courts Override SEC Enforcement Actions?: SEC RoundupCivil liberties lawyer Peggy Little discusses whether SEC defendants can challenge the SEC's hearing process in court.