Request Legal Help Now - Free

Ameriprise Agrees Preliminary Settlement in Securities America Investor Class Action

This is a settlement for the Securities/Stock Fraud lawsuit.

New York, NY: A preliminary settlement has been reached by Ameriprise Financial and its brokerage unit, Securities America Inc, and clients who allege in they lost roughly $400 million on fraudulent private placements.

The preliminary agreement would see Securities America pay $80 million, further to a separate agreement in which SA has agreed to pay $70 million. If approved, the settlement would mean a recovery of 40 cents on the dollar, after fees.

If approved, the majority of the settlement will be paid by Ameriprise.

Legal Help

If you have a similar problem and would like to be contacted by a lawyer at no cost or obligation, please fill in our form.
Published on Apr-13-11

No cost PR for your verdicts and settlementsPublish your verdicts and settlements at no charge

READ MORE Bankruptcy Settlements and Legal News
READ MORE Business Settlements and Legal News
READ MORE Consumer Fraud Settlements and Legal News
READ MORE Financial Settlements and Legal News
READ MORE Securities Settlements and Legal News


Fields marked * are mandatory. Please read our comment guidelines before posting.


Note: Your name will be published with your comment.

*Email Address:

Your email will only be used if a response is needed.
*Your Comment:

Are you the defendant or a subject matter expert on this topic with an opposing viewpoint? We'd love to hear your comments here as well, or if you'd like to contact us for an interview please submit your details here.
Request Legal Help Now! - Free