Investments
UBS Financial YES Program High Risks and Conflicts of Interest Class Action
This class action brings suit against UBS Financial Services, Inc. for its Yield Enhancement Strategy (YES) program. The complaint makes several allegations, including that UBS concealed that the potential risks of the program were larger than the potential gains, that the accounts enabled UBS to double-dip on fees, and that UBS had a conflict of Read moreInvestments
CITIC Capital RICO Conspiracy GNC Shareholders’ Class Action
This class action is brought by minority shareholders in GNC Holdings, Inc. The complaint alleges that “a number of state-owned Chinese corporations and individuals, GNC’s Board of Directors and senior management, certain [of] GNC’s secured lenders and financial advisor” who have conspired “to enrich themselves at the expense” of other shareholders through dishonest actions that Read moreInvestments
Charles Schwab Earnings from Intelligent Portfolios Program Class Action
Digital programs are increasingly used to automate everything. This class action brings suit against Charles Schwab Investment Advisory, Inc. over its digitized investment-advice “robo-advisor” program Schwab Intelligent Portfolios (SIP program). The complaint alleges that, while the SIP program advertises itself as being lower-cost than other programs in certain ways, it involves “self-dealing” by the company Read moreInvestments
Hospitality Investors Trust REIT Investigation
Did you lose money by following a broker’s recommendation to invest in Hospitality Investors Trust REIT? If so, you may be able to participate in a lawsuit. We’re investigating whether brokers or financial advisors recommended this REIT to their clients, even if it was not suitable for them. A REIT is a real estate investment Read moreInvestments
Fisher Investments Unwanted Cell Phone Calls TCPA Class Action
Who is Fisher Investments, Inc.? The complaint quotes the company’s website to call it a “fee-only investment adviser serving institutional and private clients globally.” But the complaint for this class action alleges that Fisher violates the Telephone Consumer Protection Act (TCPA) by placing automated telemarketing calls to consumer cell phones, without first getting the owners’ Read moreInvestments
TD Ameritrade Prohibitions on Sales of AMC Stock Class Action
TD Ameritrade, Inc. is a broker that processes trading orders for consumers. The complaint for this class action alleges that on January 28, 2021, TD did not process orders for AMC securities, either prohibiting customers from making the trades or delaying in making them. The complaint alleges breaches of contract and of the implied covenant Read moreInvestments
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
