All Articles Tagged With: "Arbitration"
Articles
Stock Broker Elder Financial Abuse Claim Results in $1.6M Award
A panel of arbitrators through the Financial Industry Regulatory Authority (FINRA) has awarded a 95-year old man $1.6 million in damages against StockCross Financial Services in a stock broker fraud claim that resulted in triple damages based on a finding of elder abuse.
OppenheimerFunds Settlement Results in $77M Payment to Illinois
OppenheimerFunds Inc. has agreed to pay $77 million to the state of Illinois to settle an ongoing investigation into the management of the state’s college savings fund.
Medical Capital Notes Class Action Lawsuit Filed for Investors
A class action lawsuit has been filed on behalf of investors who purchased Medical Capital Notes, alleging that several brokerage firms violated federal securities laws by selling the unregistered notes under false and misleading prospectuses.
Stock Broker Arbitration Results in $1.1M Award for 90 Year Old Woman
The brokerage firm William Blair & Co. and two of their former brokers have been ordered to pay $1.17 million to an elderly woman who filed a stock broker arbitration claim, alleging that two of her brokers made illegal changes to her account without her permission and even created a fake e-mail address for her [...]
SEC Warns of Charles Schwab Bond Fund Lawsuit Over Securities Violations
The U.S. Securities and Exchange Commission (SEC) has warned Charles Schwab Corp. that it could face a regulatory lawsuit over its handling of the Schwab YieldPlus Fund and Schwab Total Bond Market Fund, for which the company already faces pending securities fraud arbitration claims and an investor class action lawsuit for misleading investors.
Charles Schwab YieldPlus Class Action Opt-Out Date Set for Dec. 28
A federal court overseeing the Charles Schwab YieldPlus class action lawsuit has set a deadline of December 28, 2009, for members of the class to opt-out and pursue their own individual financial fraud claims.
Losses Awarded in Charles Schwab YieldPlus Arbitration Claim
An arbitration panel through the Financial Industry Regulatory Authority (FINRA) has ruled against Charles Schwab, ordering the firm to pay a family 125% of their out-of-pocket investment loss as a result of mishandling Schwab YieldPlus bond funds, which suffered tremendous losses in 2008 due to heavy investment in subprime mortgages.
Arbitration Claim Results in 100% Recovery of Schwab YieldPlus Losses
An arbitration panel through the Financial Industry Regulatory Authority (FINRA) has ruled in favor of a pair of investors who filed a fraud claim against Charles Schwab to recover losses they suffered from the substantial decline in Schwab YieldPlus Fund, awarding 100% of their net out-of-pocket losses, plus attorney fees, interest and costs associated with [...]
House Subcommittee Heard Testimony on Unfair Binding Arbitration Clauses
Lawmakers and consumers testified on Tuesday before a House subcommittee, calling for new, tough laws restricting the ability of companies to force customers into mandatory binding arbitration when disputes arise. The law could help protect consumer access to the courts in cases against nursing homes, banks, cable companies and other corporations.
Consumer Advocates Push for Forced Arbitration Ban
Several consumer advocacy groups are calling for Congress to enact legislation that would ban corporations from making it mandatory for customers to sign arbitration agreements that waive their right to file a lawsuit if a dispute arises.
