Accounting and financial disclosure issues are increasingly becoming the focus of litigation – both with the Securities and Exchange Commission (SEC) and the plaintiffs’ class action bar – according to recent pronouncements from the SEC and a leading research firm that tracks securities class actions. Last week, the SEC announced two financial fraud cases against …
Safirstein Metcalf LLP announces that a class action has been commenced in the United States District Court for the District of New Jersey on behalf of purchasers of Freshpet, Inc. (“Freshpet” or the “Company”) (NASDAQ:FRPT) common stock during the period between April 1, 2015 and November 11, 2015 (the “Class Period”). If you purchased Freshpet …
With the Labor Department’s fiduciary rule finalized, are some advisors now a target for lawsuits? Experts suggest that the threat of litigation – which exists because the rule provides clients with the right to legal action – could push some firms to change business models and spur some advisors to exit the business. “Litigation is one area where firms are particularly…
No one at Goldman Sachs will go to jail despite the company’s world-destroying, multi-billion-dollar frauds that culminated in its unloading billions’ worth of worthless mortgage-backed securities on its customers just before the crash. Goldman’s settlement requires it to admit that it knowingly committed these frauds for years on end. Again, no one will go to jail.
When clients enter their financial advisors’ offices and express frustrations about a retail bank’s mistakes or overcharges, the damages are usually too small to merit any individual legal action. “It’s $24 here and $45 there, and often there is very little you can do,” says Debra Brennan Tagg, managing director of Brennan Financial Services in Addison, Texas. But, it is expected that when the …
by Avivah Litan | March 14, 2016 | Submit a Comment In a little noticed but highly significant event, two small Florida merchants are lead plaintiffs in a potential class action suing the financial services industry for conspiring to get the merchants to eat more fraud. The merchants point out that their fraud rates and charges have risen more than twenty times since the October 2015 EMV …
Bank of Queensland will defend proceedings against them in the Federal Court. Photo: Glenn Hunt Bank of Queensland is facing a second class action from customers of disgraced financial planner Bradley Sherwin over claims it failed to stop a multimillion dollar “Ponzi”-like investment scheme from taking place. Mr Sherwin is currently facing various fraud charges over his alleged role as director …
When developers at a top U.S. stock exchange needed help debugging a program that puts time stamps on quotes and trades in July, they could have hired a high-profile consulting firm. Instead, they called a customer who runs a company out of a small office in a Chicago suburb who had weeks earlier called the exchange’s dealings with high-frequency trading firms “completely illegal” on Twitter. …
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