Mont. Ameriprise Investors Can't Seek Payback After $80M Deal

Law360, New York (February 13, 2012, 7:20 PM EST) -- A Texas federal judge on Monday temporarily barred Montana authorities from seeking restitution for investors after an $80 million settlement between Ameriprise Financial Inc. unit Securities America Inc. and some 2,000 investors who bought into two Ponzi schemes through Ameriprise offerings.

U.S. District Judge W. Royal Furgeson granted Securities America’s bid for a temporary restraining order until Feb. 27 against the Montana Commissioner of Securities and Insurance, to bar it from seeking restitution for investors belonging to the settlement class during an upcoming administrative hearing on...
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