A settlement has been reached in a class-action lawsuit brought by shareholders against Wells Fargo & Co., reports Advisor Hub. Wells Fargo agreed to pay $1 billion to compensate investors who said the company misled them about the progress it was making in...
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Goldman Sachs to pay $215 million to settle lawsuit alleging discrimination against women
A settlement has been reached in a class-action lawsuit that alleged Goldman Sachs Group Inc. discriminated against thousands of female employees, Financial Advisor reports. Goldman Sachs agreed to pay $215 million to about 2,800 women who accused the New York-based...
Appeal filed over judge’s decision that struck down Massachusetts fiduciary rule
A legal battle is continuing between Robinhood Markets and the state of Massachusetts over the state’s fiduciary rule, Financial Advisor reports. Massachusetts secretary of the commonwealth William F. Galvin said he will appeal a ruling last year by Superior Court...
NJ man sentenced to prison for $2.8 million securities fraud scheme
A federal judge imposed a prison sentence on a former New Jersey broker who pleaded guilty to a securities fraud scheme, reports Financial Advisor. 55-year-old Mark Marchi was ordered to spend 63 months behind bars, along with three years of supervised release....
Wells Fargo manager files lawsuit accusing firm of gender discrimination
A sales manager with Wells Fargo Securities LLC has filed a lawsuit accusing the company of widespread gender discrimination, Financial Advisor reports. The suit was filed last week in California State Superior Court by Vanessa Carney, who has spent 16 years with the...
