Tagged with "lawsuit"

Oppenheimer Faces Class Action Suit Over Ponzi Scheme – Horizon Private Equity

Posted on September 13th, 2021 at 12:20 PM
Oppenheimer Faces Class Action Suit Over Ponzi Scheme – Horizon Private Equity

Oppenheimer & Co. (Oppenheimer) is facing a proposed class-action suit alleging that a $110 million Ponzi scheme was conducted by one of the investment banking company’s advisors.

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SEC Sues Dentist-Turned-Advisor over Alleged Fraud

Posted on June 22nd, 2021 at 1:15 PM
SEC Sues Dentist-Turned-Advisor over Alleged Fraud

The Securities and Exchange Commission (SEC) has filed suit against Boca Raton native, Edgar Radjabli, for pursuing three individual securities frauds. Radjabli, who owned and controlled Apis Capital Management, allegedly conducted a fraudulent offering of Apis Tokens, which is a digital asset representing tokenized interests in Apis Capital’s main investment fund.

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Morgan Stanley Files Lawsuit Against $6 Million Team

Posted on January 14th, 2021 at 3:57 PM
Morgan Stanley Files Lawsuit Against $6 Million Team

A $6 million advisor team led by Wade Martin left Morgan Stanley to join RBC Wealth Management-U.S. in October 2020.

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SEC Files Suit Against Eric Malley and MG Capital Management

Posted on January 12th, 2021 at 9:27 AM
SEC Files Suit Against Eric Malley and MG Capital Management

The U.S. Securities and Exchange Commission (“SEC”) has filed a lawsuit against Eric C. Malley, and his company MG Capital Management L.P.

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SEC Files Suit Against DeAndre Sears for Role in EquiAlt Ponzi Scheme

Posted on January 7th, 2021 at 3:29 PM
SEC Files Suit Against DeAndre Sears for Role in EquiAlt Ponzi Scheme

The U.S. Securities and Exchange Commission (“SEC”) has filed a lawsuit against DeAndre P. Sears and his company MASears LLC, also known as Picasso Group

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Former Morgan Stanley Advisor Files Lawsuit over Deferred Compensation

Posted on January 4th, 2021 at 3:54 PM
Former Morgan Stanley Advisor Files Lawsuit over Deferred Compensation

Matthew T. Shafer, a former advisor for Morgan Stanley Wealth Management, has filed a putative class action against Morgan Stanley, AdvisorHub reported. 

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Wawa to Pay $21.6 Million to Settle ESOP Lawsuit

Posted on July 15th, 2020 at 3:35 PM
Wawa to Pay $21.6 Million to Settle ESOP Lawsuit

Convenience store chain Wawa has agreed to pay $21.6 million to settle a 2018 class-action lawsuit regarding the company’s employee stock option plan (“ESOP”).  The settlement is still pending court approval. Wawa previously paid $25 million to settle a class-action lawsuit in 2016 that involved similar allegations relating to Wawa’s ESOP.

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UBS Sues Former Advisor

Posted on June 11th, 2020 at 4:22 PM
UBS Sues Former Advisor

UBS Wealth Management USA has filed a lawsuit against former advisor, Alexandra VanMeurs.  After 13 years at UBS, VanMeurs left the firm in May to join Morgan Stanley. UBS is seeking to enjoin VanMeurs from calling clients she serviced at UBS. Although such lawsuits are not uncommon in the industry, the case has an interesting twist.

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Sales in Unregistered Securities Are Soaring but It Comes at a Cost - Part 1

Posted on May 2nd, 2019 at 4:40 PM
Sales in Unregistered Securities Are Soaring but It Comes at a Cost - Part 1

This is the first in a series which highlights an InvestmentNews article concerning the recent uptick in the sale of unregistered securities and how those transactions have resulted in the proliferation of fraudulent schemes.

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Franklin Templeton Settles 401(k) Class-Action Lawsuit for $14 Million

Posted on February 25th, 2019 at 3:59 PM
Franklin Templeton Settles 401(k) Class-Action Lawsuit for $14 Million

Franklin Templeton Investments has agreed to pay approximately $14 million to settle a 2016 class-action lawsuit filed in the U.S. District Court for the Northern District of California.

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