Tagged with "gaap"

2019 Securities Class Action Settlement Remain High

Posted on March 5th, 2020 at 2:53 PM
2019 Securities Class Action Settlement Remain High

According to a report released by Cornerstone Research, the median settlement for securities class actions in 2019 was $11.5 million, which was unchanged from the 2018 median.  The 2018 and 2019 median was approximately 34% above the median for the period between 2010 and 2018.  In 2019, there was a decrease in the number of small securities class action settlements and an increase in mid-sized settlements.  Additionally, 2019 saw four mega settlements over $100 million.

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I just received this letter from the CFP Board. Thank you, Thank you, THANK YOU!

David Y


November 28, 2023
Arbitration Mandated for Former Morgan Stanley Advisors' Class Claim on Deferred Compensation

A federal judge in Manhattan has granted Morgan Stanley’s request to transfer a potential class action lawsuit to arbitration.

November 28, 2023
Wells Fargo Under SEC Scrutiny for Cash Sweep Programs

The Securities and Exchange Commission (SEC) is investigating Wells Fargo & Company over cash sweep options provided to investment advisory clients.

November 22, 2023
FINRA Alleges $2 Million in Client Losses and $2 Million in Commissions Due to Advisor's Churning

According to a Financial Industry Regulatory Authority (FINRA) complaint, Stewart "Paxton" Ginn excessively traded accounts over two and a half years, resulting in $2.22 million in losses and $2.24 million in commissions for him and his firm.