Our firm represented five investment advisor representatives and their firms in connection with the same investment product investigated by the Securities and Exchange Commission (SEC). The case was notable because of the strategy and approach replicated by our team across each of the clients in an effort to limit exposure with the SEC, FINRA and state regulators, and exposure from their clients who lost money investing through the product.
Our team resolved approximately 10 litigations and FINRA arbitrations, including two class actions. We also negotiated settlements with the investors and insurance companies, and negotiated settlements with the trustee of the entity's bankruptcy. We are currently finalizing negotiations with various regulators.
