Litigation

The industry rivals are back in court with fresh allegations that Ameriprise falsely warned its former clients that LPL misappropriated their account information.

Michael Bonevento and his team left Ameriprise in 2019 to join LPL Financial. He says too much time has elapsed for him to now be accused of misappropriating client information.

A court of appeals agreed with Commonwealth's contention that a jury should decide if investors were harmed by investment disclosures allegedly withheld from them.

UBS contends the nearly $70 million in punitive damages it has been ordered to pay a wealthy Iowa family are not justified under federal or state law.

Stifel follows closely on UBS's heels in getting hit with tens of millions in punitive damages.

Regulators accused Cambridge Investment Research of directing clients to mutual funds and other investments that generated revenue-sharing payments when cheaper options were available.

A federal judge agrees with Merrill that deferred compensation is a bonus used to reward employee loyalty rather than a retirement benefit protected by federal law.

Among other things, regulators accused Robinhood of failing to supervise social media influencers and said some of its social media messages were misleading to investors.

The dispute shows Edward Jones has become emboldened in taking legal actions against advisors perceived to have inflicted harm on its business interests by leaving for another firm, one industry recruiter said.

A group of nine claimants said they lost millions after the UBS broker Andrew Burish recommended they place bets that Tesla shares would decline in value.