Skip to content Skip to navigation

Securities

Building for Ohio National

When a person or firm is laid off, what happens to any unpaid commissions they might have earned? The complaint for this class action says that Ohio National Life Insurance and related companies simply stopped paying the insurance commissions to securities representatives when it terminated its selling agreements with their companies. The complaint calls this breach of contract and unjust enrichment.

Example of Bond Certificate

At times, government-sponsored enterprises (GSEs) issue bonds to fund what the complaint for this class action calls “economic and public policy mandates.” The complaint for this class action claims that dealers in these bonds conspired to fix their prices in a way that would earn the dealers more money, in violation of antitrust laws.

Bank of America Logo and Name

This class action concerns a “decade-long” Ponzi scheme that the complaint says was run out of more than a hundred accounts at Bank of America, NA and roughly twenty accounts at Citizens Bank, NA. The complaint names the banks, along with a group of individuals, as being responsible for investor losses, as the banks allegedly facilitated the scheme rather than discovering and stopping it.

TD Ameritrade Logo

This class action centers on a feature in an investment account called tax-loss harvesting. The complaint alleges that TD Ameritrade Holding Corporation and three of its Ameritrade subsidiaries are responsible for losses in an account that was managed by Ameritrade when the tax-loss harvesting feature did not work as intended. 

Siacoin Logo

This is another class action about shady business practices related to cryptocurrencies, this time Siacoin and Decred. Most of the complaint covers broken promises about mining equipment, but the legal allegations center on the charge of the sale of unregistered securities. 

Machine Working to Develop Land

This class action concerns investment offerings known as United Development Funding (UDF), and specifically UDF III. The complaint alleges that the defendants made false statements about UDF III’s success to induce people to invest or to invest more. It backed up the false statements by distributions—which, according to the complaint, were not in fact earnings from UDF III, but money paid for investments in UDF IV and UDF V. Since the securities were never offered for sale on an exchange, certain federal securities laws do not apply. The complaint claims violations of the Texas Securities Act, among other things.

MoneyGram Sign on Building

As the world has become smaller via electronic transactions, fraud and money laundering have become more of a concern for regulators. The complaint for this securities class action claims that MoneyGram International, Inc. provided false or misleading information to shareholders about its fraud- and money laundering-prevention measures. 

CafePress Logo

CafePress, Inc.(NASDAQ: PRSS)has concluded a merger agreement under which it would become a subsidiary of Snapfish, LLC. But the complaint for this class action alleges that the terms of the merger agreement and tender offer are not in the interests of CafePress shareholders. Instead, it says, CafePress’s board of directors has been influenced by terms that will benefit only themselves. 

Sequoia Fund Logo

When investors put their money into funds, they make choices about the kinds of funds they want to invest in—the riskiness of the investments, the size of the companies invested in, the economic sector, the region or country, and so on. The complaint for this class action claims that Sequoia Fund’s investment in a single company ended up violating its own rules about concentration in a single industry and caused the fund eventually to lose about $600 million in value.

Mine on Simandou

Simandou is a mountain that is rich in minerals, but it is in the interior of Guinea, a West African country that by some accounts is one of the most corrupt places in the world. The complaint for this class action claims that Rio Tinto PLC became anxious when some of its mining rights were revoked and given to a competitor and that it paid a very large bribe to ensure that it retained its remaining rights. However, the company continued to claim it did not pay bribes and did business ethically, in violation of the Securities Exchange Act of 1934. 

Pages