The Financial Industry Regulatory Authority issued an arbitration ruling in a dispute between a Texas company and two of its former independent brokers, a husband and wife team. NexTrend Securities had filed a statement of claim against Scott David Offerman and Sonya...
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Firm Transition
Former Wells Fargo executive files defamation suit against firm
Wells Fargo has been hit with a defamation lawsuit by one of its former regional presidents, ThinkAdvisor reports. Shelley Freeman filed the suit in federal court for the Northern District of California, claiming she was “maliciously defamed” worldwide by the bank....
Former McDonald’s CEO fined by SEC for misrepresenting his termination
The former CEO of McDonald’s Corporation, Stephen J. Easterbrook, has been charged by the Securities and Exchange Commission with misrepresenting the circumstances surrounding his November 2019 termination. The SEC said in a news release that Easterbrook made false...
Arbitrators award former Fidelity broker $500,000 in wrongful termination case
Financial Industry Regulatory Authority arbitrators awarded damages to a former broker for Fidelity Brokerage Services in a dispute over his termination, reports ThinkAdvisor. The arbitration panel issued its ruling in the claim of Ryan Sanghak Lee, whose causes of...
UBS reaches settlement with ex-brokers in dispute over firm transition
A settlement has been reached in a dispute between UBS Wealth Management USA and a group of brokers who left for another firm in October, AdvisorHub reports. A court document stated that a consent agreement was filed by UBS and the Indianapolis-based team that joined...
