Legal News Articles - Securities
May 9, 2018. By Anne Wallace.
Atlanta, GA On April 12, 2018, two Home Depot 401(k) plan participants, Jaime Pizarro and Craig Smith, filed an ERISA lawsuit in the U.S. District Court of the Northern District of Georgia. The complaint alleges that The Home Depot breached its duty to Plan participants in three ways: by choosing poorly-performing investment options, allowing investment advisors to charge unreasonable fees and ignoring a kickback scheme between an investment adviser and the plan’s record keeper. A nickel here, a buck and half there – it adds up.Read [ Home Depot Employees File ERISA Class Action Lawsuit over 401(k) Mismanagement ]
September 29, 2017. By Gordon Gibb.
Washington, DC: A former executive with a real estate investment trust who brought an SEC whistleblower lawsuit against his former employer has seen his case mushroom into a debate over protections for whistleblowers couched in the Dodd-Frank Act and the Sarbanes-Oxley Act. Also debated within the lawsuit, which has since been elevated to the US Supreme Court, is the relationship between the various provisions within Dodd-Frank / Sarbanes-Oxley, and those within the Securities and Exchange Commission (SEC).Read [ Is Fired Executive’s Case an SEC Whistleblower Lawsuit? Supreme Court to Decide ]
September 20, 2017. By Anne Wallace.
Washington, DC:. Insiders with information about securities fraud should know three important things before filing an SEC fraud whistleblower lawsuit:Read [ SEC Fraud Whistleblower Lawsuits Fly under the Radar ]
July 19, 2017. By Lucy Campbell.
Santa Clara, CA: Sears Holding is facing an Employee Retirement Income Security Act (ERISA) class action lawsuit filed by employees who allege the company used its own stock as an investment option in the 401(k) plan, despite knowledge that the company was in in “extremely poor financial condition.”Read [ Sears Facing 401K Class Action Lawsuit ]
June 7, 2016. By Heidi Turner.
Washington, DC: Morgan Stanley has been ordered to pay $8.6 million in a stockbroker arbitration claim that alleged unauthorized trading. The award was given to Denis Doyle, who filed the Financial Industry Regulatory Authority (FINRA) arbitration after his accounts experienced a drastic decline in value. Although FINRA typically does not comment on its rulings, according to The Wall Street Journal (6/3/16), the panel cited financial elder abuse when it awarded $2 million in punitive damages.Read [ Morgan Stanley Ordered to Pay $8.6 Million ]
April 15, 2016. By Heidi Turner.
San Francisco, CA: California’s Attorney General Kamala Harris has filed a securities lawsuit against Morgan Stanley, related to mortgage-backed securities sold by Morgan Stanley. The lawsuit alleges Morgan Stanley failed to disclose important information about the quality of the investments, causing various state pension funds to lose hundreds of millions of dollars.Read [ California Files Securities Lawsuit against Morgan Stanley ]
February 17, 2016. By Heidi Turner.
Washington, DC: The Financial Industry Regulatory Authority (FINRA) has barred two brokers from the securities industry after finding the brokers guilty of fraud related to their sale of the Prestige Wealth Management Fund, LP. The brokers reportedly consented to the entry of FINRA’s findings but neither admitted nor denied the claims of stockbroker fraud.Read [ FINRA Bars Two Stockbrokers ]
January 25, 2016. By Heidi Turner.
Simi Valley, CA: In the wake of an E. coli outbreak and a norovirus outbreak, Chipotle faces a securities lawsuit and other lawsuits alleging the company attempted to hide the outbreak and misled investors about the nature of its sanitation procedures. This is in addition to a criminal investigation linked to the foodborne illness outbreak in Simi Valley.Read [ Chipotle Faces Securities Lawsuit, among Others ]
December 10, 2015. By Heidi Turner.
West Palm Beach, FL: A FINRA arbitration panel has ordered a securities firm, the founder of the firm and a broker to pay almost $2 million to investors who alleged they were victims of stockbroker fraud and churning. The Financial Industry Regulatory Authority (FINRA) issued the ruling after investors claimed the firm, its founder and a broker violated the Florida Uniform Fraudulent Transfer Act.Read [ FINRA Orders $1.9 Million Paid to Victims of Stockbroker Fraud ]
November 14, 2015. By Heidi Turner.
New York, NY: A recent car recall has led to a securities fraud lawsuit being filed against an automaker. The lawsuit, filed against Fiat Chrysler, alleges the company made false and misleading statements linked to its securities.Read [ When a Car Recall Leads to a Securities Lawsuit ]
- FINRA Orders More Fines Linked to Puerto Rico Bonds By Heidi Turner (Oct-29-15)
- FINRA Orders UBS to Pay Almost $3M By Heidi Turner (Sep-10-15)
- FINRA Hands Out $2.3 Million Judgment against Morgan Stanley By Heidi Turner (Aug-18-15)
- FINRA Awards Couple $16.6 Million By Heidi Turner (Jul-16-15)
- FINRA Orders Millions in Stockbroker Arbitration Rulings By Heidi Turner (Jun-5-15)
- Supreme Court Rules In Favor of Employees in ERISA Class Action By Lucy Campbell (May-18-15)
- SEC Files Securities Lawsuit By Heidi Turner (May-7-15)
- Could Rule Change Stop Stockbroker Fraud? By Heidi Turner (Apr-13-15)
- FINRA Fines Increased in 2014 By Heidi Turner (Mar-7-15)
- ERISA Lawsuit to Be Heard by Supreme Court in February By Heidi Turner (Feb-6-15)
- Report: $1.3 Billion in Top ERISA Class-Action Settlements in 2014 By Heidi Turner (Jan-8-15)
- Labor Department Wins $4.7 Million in ERISA Lawsuit By Heidi Turner (Dec-5-14)
- Supreme Court Petitioned to Hear Another ERISA Case By Heidi Turner (Nov-12-14)
- Supreme Court Agrees to Hear Stock Options Case By Heidi Turner (Oct-4-14)
- ERISA Turns 40 By Heidi Turner (Sep-17-14)
- Preliminary Approval of Settlement in Regions Morgan Keegan ERISA Lawsuit By Heidi Turner (Aug-22-14)
- Supreme Court Rejects Presumption of Prudence in ERISA Lawsuits By Heidi Turner (Jul-6-14)
- ERISA Lawsuits: DOL Taking Action against ERISA Violations By Heidi Turner (Jun-12-14)
- Boeing Faces ERISA Suit Linked to Autism Coverage By Heidi Turner (May-15-14)
- DOL Forces Advisor to Pay for ERISA Violations By Heidi Turner (Apr-15-14)
- Are Many ERISA Plans Being Run Improperly? By Heidi Turner (Mar-12-14)
- Puerto Rico Lawsuit Filed By Heidi Turner (Feb-3-14)
- Excessive Fees ERISA Lawsuit Filed against Fidelity By Heidi Turner (Feb-2-14)
- UBS Puerto Rico Closed-End Funds Lose $1.66 Billion Last Year By Gordon Gibb (Jan-24-14)
- UBS Puerto Rico Investors Look to 2014 By Heidi Turner (Jan-17-14)
- Supreme Court Sides with Plan in ERISA Lawsuit By Heidi Turner (Jan-3-14)
- Following Suit: Variable Annuities Litigation Update By Lucy Campbell (Dec-26-13)
- Will Buyback Offer Placate UBS Puerto Rico Closed-End Investors? By Gordon Gibb (Dec-26-13)
- Some UBS Puerto Rico Funds Reportedly Suffer Heavy Losses By Heidi Turner (Dec-14-13)
- Variable Annuities Not Necessarily Suitable for Everyone By Heidi Turner (Dec-11-13)
- ERISA Lawsuit Results in $99 Million Settlement By Heidi Turner (Dec-1-13)
- Variable Annuities Can Be a Minefield for the Elderly By Gordon Gibb (Nov-23-13)
- Attorney: Some UBS Puerto Rico Closed-End Funds Riskier Than Marketed By Heidi Turner (Nov-22-13)
- Securities Lawyer: Securities Fraud Happens Every Day By Heidi Turner (Nov-12-13)
- Variable Annuities Might Be Unsuitable for Some Elderly Investors By Heidi Turner (Nov-7-13)
- Does ERISA Cover Your Health Insurance Complaint? By Heidi Turner (Nov-1-13)
- Securities Lawsuit Could Affect Future Securities Fraud Claims By Heidi Turner (Oct-25-13)
- Florida Law Intended to Protect Consumers from Inappropriate Variable Annuities By Gordon Gibb (Oct-25-13)
- What Is the Point of a Variable Annuity That Cannot Be Cashed In? By Heidi Turner (Oct-3-13)
- ERISA Lawsuit Nets $30 Million Settlement By Heidi Turner (Oct-2-13)