The investor advocacy bar association PIABA (the Public Investors Arbitration Bar Association) has recently issued a report called “Major Investor Losses Due to Conflicted Advice: Brokerage Industry Advertising Creates the Illusion of Fiduciary Duty.” The PIABA report argues that the brokerage industry uses false advertising to convey to investors that…
Recently, the law office of Gana Weinstein LLP filed a claim (Complaint) on behalf of its client against Fidelity Brokerage Services (Fidelity) alleging that Fidelity was negligent when one of its registered representatives made an unsuitable recommendation to the client. The client purchased a stock in the company Lakeland Industries…
On March 19, 2013, a former employee of Fidelity Investments filed suit in the U.S. District Court in Boston, Massachusetts against her former employer alleging self-dealing with respect to the management of the FMR LLC Profit Sharing Plan, Fidelity’s 401(k) plan. In September, twenty-six additional current and former Fidelity employees…