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Bank of America took a hit owing to its 2008 acquisition of Merrill Lynch in 2013, when Merrill Lynch agreed to pay $160 million to settle a class-action racial discrimination lawsuit brought by a ...
On June 16, 2009, Judge Burton Lifland approved the settlement between Picard and Banco Santander SA's Optimal Investment Services. The Optimal SUS fund, one of Madoff's largest feeder funds, [ 83 ] agreed to pay $235 million, about 85% of the $285 million that the Geneva-based hedge fund group redeemed in the 90 days before Madoff was arrested.
A handful of law firms are specialized in this type of litigation. Class action securities litigation has been a lucrative field due to large settlements, the largest historic settlements having been Enron ($7.2 billion), WorldCom ($6.1 billion), Tyco International ($3.2 billion), and VEREIT ($1.1 billion). [24]
The fund disbursing money to the victims of Bernie Madoff’s legendary Ponzi scheme began its 10th and final distribution on Monday, putting another $131 million in the pockets of swindled investors.
Many of these cases have lead to class action lawsuits and proceedings by the ... Must have been a Wells Fargo client with an active banking account, mortgage or auto loan between 2011 and 2022 ...
On March 9, 2006, the SEC filed a lawsuit “against registered investment adviser BMA Ventures, Inc. and its president, William Robert Kepler, 35, of Dallas, Texas, alleging that they illegally obtained approximately $1.9 million in a fraudulent ‘scalping’ scheme from January 2004 through March 2005. Scalping is the illegal practice of ...
Peachtree Financial gives structured settlement recipients the option to receive their cash sooner, by selling their structured settlement payments. [6] These regular payments from insurance companies, often as a result of a personal injury lawsuit, can be sold in portions, or all at once.
A motion to dismiss the lawsuit against Cutter and the company was denied in December in U.S. District Court in Boston. Cutter, 55, has been a financial adviser since 2005. He founded Cutter ...