Investments

Syndicated Conservation Easement Tax Strategy Rejected by IRS RICO Class Action
The Internal Revenue Service (IRS) allows some conservation easements to be considered a noncash charitable contribution deduction, which can have substantial tax benefits for certain individuals. However, the easements must be placed on the property in strict compliance with the terms set by the IRS. The complaint for this class action brings suit against a Read moreRICO, Investments

BNY Mellon Discretionary Investments Violated Agreements Class Action
BNY Mellon, NA is a subsidiary of the Bank of New York Mellon Corporation which has a wealth management division. Customers for this division may entrust funds to the bank and rely on the bank “to invest those funds at the Bank’s prudent discretion.” The bank has full investment authority over those funds. However, the Read moreInvestments

EquiAlt $170 Million Ponzi Scheme California Class Action
“This case arises from $170 million Ponzi scheme operated by EquiAlt, LLC[,]”the complaint for this class action says in its opening line. According to the complaint, EquiAlt claims to use investor funds to buy distressed real estate and promised eight to ten percent profit with very little risk. However, the complaint claims that the promises Read moreInvestments

Schwab DAF Charitable Fund Breach of Fiduciary Duties Class Action
This class action involves the Schwab donor-advised fund (DAF), a charitable entity that is part of the Schwab Charitable Fund. The complaint alleges that Schwab Charitable, the Schwab Board of Directors, and the Schwab Charitable Investment Oversight Committee have breached their fiduciary duties to the Schwab DAF, in violation of common law as well as Read moreInvestments

Nvidia 401(k) Plan Breach of Fiduciary Duties Class Action
Companies appoint various parties to manage and be responsible for the 401(k) plans for their employees. These people act as fiduciaries and are required under the Employee Retirement Income and Security Act of 1974 (ERISA) to carry out the fiduciary duties of loyalty and prudence. In this class action, the complaint claims that fiduciaries of Read moreInvestments

EquiAlt Real Estate Securities Ponzi Scheme Class Action
The sales agents were unlicensed, the securities were unregistered, the investors were not accredited, and the investors’ money did not go where they thought it would go: This was EquiAlt and its Ponzi scheme, says the complaint for this class action. The first defendant is Paul Wassgren, who was a partner, at different times, at Read moreInvestments

WeWork Investors Claim Company Misled Them Class Action
The fall of the We Company, also known as WeWork, was described as “one of the most spectacular flameouts in recent corporate history.” Its company valuation fell by 90% in a single year. This class action claims that WeWork misled the public about the company’s actions and intentions, violating the California Corporations Code. Read moreInvestments

Robinhood Trading Systems Fail in Volatile Market Class Action
In recent months, the stock market has been very volatile, plunging downwards and shooting up again in connection with the coronavirus pandemic. Investors must make decisions—and trades—quickly. The complaint for this class action alleges that services for online trading firm Robinhood failed at important times, leaving investors unable to buy or sell securities for their Read moreInvestments

John Hancock 401(k) Plan Management ERISA Class Action
Those who manage retirement plans have a fiduciary duty to plan participants. This means that they must act in the interest of the plan participants and beneficiaries. The complaint for this class action alleges that those managing the John Hancock Life Insurance Company (USA) acted in the interests of the company instead, by inappropriately favoring Read moreInvestments

Shell Oil 401(k) Plan Fiduciary Duties ERISA Class Action
The Employee Retirement Income Security Act (ERISA) governs retirement plans and other benefits at large companies and specifies that plan administrators and trustees have a fiduciary duty to act for the exclusive benefit of plan participants. In this class action, the complaint alleges that Shell Oil Company and various other defendants, some associated with Fidelity Read moreInvestments