Law360 (February 18, 2011, 1:43 PM EST) -- Embattled broker-dealer Securities America Inc. has agreed to pay roughly $21 million to settle three putative class actions alleging the company made false statements in connection with the sale of billions of dollars of ruinous securities offerings.
On Thursday, plaintiffs urged Judge Royal Furgeson of the U.S. District Court for the Northern District of Texas to approve the settlements, which would provide class members with a share of cash payments as well as a percentage of Securities America's future earnings.
If Securities America, a wholly owned subsidiary of Ameriprise Financial Inc., manages to recover $4 million in excess liability insurance proceeds...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!