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....
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Firm Transition
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...
NRA arbitrators order NY firm to pay $1.5 million to former advisor over commission dispute
A New York broker-dealer has been ordered to pay over $1.5 million to one of its former financial advisors who said the firm did not pay him the commissions and other money he was owed, according to Financial Advisor. A Financial Industry Regulatory Authority...
