November 07, 2011
Next Financial Group Inc. agreed on Friday to pay $5.4 million to settle an investor class action claiming the broker-dealer promoted energy investments sponsored by a company accused of running a $485 million Ponzi scheme.
April 19, 2011
One month after a $21 million settlement was rejected, investors suing Securities America Inc. asked a Texas federal court to approve a $150 million deal that would end three putative class actions and more than 270 arbitration proceedings against the broker-dealer.
April 07, 2011
Investors with claims connected to Securities America Inc.'s alleged securities fraud will not be able to subpoena a Financial Industry Regulatory Authority enforcement lawyer in their bid to enrich a class action settlement, a Texas federal judge ruled Thursday.
March 15, 2011
A nonprofit representing state securities regulators asked a Texas federal judge Monday to reject a preliminary injunction that would halt its investigations into Securities America Inc., opposing part of the broker-dealer's $21 million settlement of three proposed class actions.
March 01, 2011
Investors arbitrating claims over losses from notes sold by an Ameriprise Financial Inc. unit sought to intervene in related litigation Monday, telling a Texas federal judge that a proposed $21 million class action settlement would unlawfully deny them arbitration rights.
February 18, 2011
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.