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Pfizer to Pay $486 Million to Settle Securities Lawsuit

Pfizer to Pay $486 Million to Settle Securities Lawsuit August 2, 2016. By Heidi Turner.
New York, NY: Pfizer will pay $486 million to settle a class action securities lawsuit alleging the drug maker misled investors about the safety of its drugs Celebrex and Bextra. Pfizer did not admit to wrongdoing in the securities fraud allegations, stating it agreed to the settlement to avoid the distraction of litigation. The securities fraud lawsuit had been dismissed by a US District Court judge but was revived by a federal appeals court in April 2016.
Read [ Pfizer to Pay $486 Million to Settle Securities Lawsuit ]

California Files Securities Lawsuit against Morgan Stanley

California Files Securities Lawsuit against Morgan Stanley 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.
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Chipotle Faces Securities Lawsuit, among Others

Chipotle Faces Securities Lawsuit, among Others 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.
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When a Car Recall Leads to a Securities Lawsuit

When a Car Recall Leads to a Securities Lawsuit 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.
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FINRA Orders UBS to Pay Almost $3M

FINRA Orders UBS to Pay Almost $3M September 10, 2015. By Heidi Turner.
New York, NY A FINRA arbitration panel has reportedly ordered UBS to pay almost $3 million to investors who claimed they lost money after they invested in UBS-managed Puerto Rican municipal bonds. The Financial Industry Regulatory Authority (FINRA) panel has made multiple rulings in favor of claimants in arbitrations involving Puerto Rican municipal bonds in recent months.
Read [ FINRA Orders UBS to Pay Almost $3M ]

FINRA Awards Couple $16.6 Million

FINRA Awards Couple $16.6 Million July 16, 2015. By Heidi Turner.
New York, NY A Financial Industry Regulatory Authority (FINRA) arbitration panel has awarded $16.6 million to a retired London couple who filed a securities arbitration against BNP Paribas Securities Corp. The arbitration alleged gross negligence, breach of fiduciary duty and civil fraud against BNP Parabas, with the claimants arguing the investment they bought was unsuitable.
Read [ FINRA Awards Couple $16.6 Million ]

FINRA Orders Millions in Stockbroker Arbitration Rulings

FINRA Orders Millions in Stockbroker Arbitration Rulings June 5, 2015. By Heidi Turner.
Washington, DC Two recent FINRA (Financial Industry Regulatory Authority) stockbroker arbitration rulings have seen FINRA panels award millions of dollars to investors who complained about stockbroker fraud or unsuitable investments. One of the stockbroker arbitration complaints was decided against UBS, while the other was decided against Goldman Sachs.
Read [ FINRA Orders Millions in Stockbroker Arbitration Rulings ]

Supreme Court Rules In Favor of Employees in ERISA Class Action

Supreme Court Rules In Favor of Employees in ERISA Class Action May 18, 2015. By Lucy Campbell.
Washington, DC The Supreme Court has ruled in favor of employees who participated in their company’s retirement savings plans and who objected to the investment decisions made on their behalf, as decisions were deemed to negatively impact their savings, can move ahead with their ERISA (Employee Retirement Income Security Act) lawsuit.
Read [ Supreme Court Rules In Favor of Employees in ERISA Class Action ]

SEC Files Securities Lawsuit

SEC Files Securities Lawsuit May 7, 2015. By Heidi Turner.
Indianapolis, IN The Securities and Exchange Commission (SEC) has filed a securities lawsuit against an Indianapolis firm, alleging the company was involved in a Ponzi scheme. The SEC has laid charges against several people for alleged securities fraud in which principals in the firm used investments to pay themselves and cover previous offerings.
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Could Rule Change Stop Stockbroker Fraud?

Could Rule Change Stop Stockbroker Fraud? April 13, 2015. By Heidi Turner.
Washington, DC Investors who feel they have been victims of stockbroker fraud can make their case in stockbroker arbitration, filed with the Financial Industry Regulator Authority (FINRA). But some critics of the stockbroker industry say stockbrokers should be subject to stricter rules concerning how they advise clients. As too many investors know, when a stockbroker’s advice is bad, lifesavings can be lost.
Read [ Could Rule Change Stop Stockbroker Fraud? ]

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