Financial Services Litigation

Madison Avenue Securities LLC FINRA Arbitration – $2.1 Million Award

In the fight to protect investors from stockbroker misconduct, Sanford Heisler Sharp has obtained a $2.1 million FINRA arbitration award on behalf of a San Diego client whose investment nest egg was decimated by an imprudent, high-risk investment strategy that her stockbroker David Barber had recommended.

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Transamerica 401(k) Investigation

Sanford Heisler Sharp, LLP is investigating whether Transamerica used its company 401(k) plan to promote its investment advisory business at the expense of its employees.

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Home Depot ERISA Class Action

According to the complaint, Home Depot has selected multiple poorly-performing funds for its 401(k) plan, allowed investment advisers to charge its employees unreasonable fees, and turned a blind eye to a kickback scheme between an investment adviser and the plan’s recordkeeper.

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General Electric ERISA Class Action

The Complaint asserts that GE and the Plan violated the Federal Employee Retirement Security Act (ERISA) by breaching their fiduciary duties and engaging in prohibited transactions and unlawful self-dealing detrimental to the three named plaintiffs individually and as representatives of a class.

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Madison Avenue Securities FINRA Claim

The claim alleges Madison Avenue Securities alleging the firm turned a blind eye in allowing one of its stockbrokers who had a disciplinary history of misappropriating clients’ funds to loot hundreds of thousands of dollars from client’s account.

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Morgan Stanley ERISA Class Action

The complaint states the company invests employees’ retirement savings in multiple funds that consistently underperform compared to other similar collective investment funds. The company also steers these investments to Morgan Stanley’s own poorly performing mutual funds, profiting off employees’ retirement savings.

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