Pension Fund Fraud Losses May Require The Help of A Trusted Broker-Dealer Negligence Law Firm
JPMorgan, Goldman Sachs, UBS and Morgan Stanley Settle Stock-Lending Lawsuit For $499M
For over 30 years, Shepherd Smith Edwards and Kantas (investorlawyers.com) have been representing pension funds and other institutional investors in pursuing damages caused by broker fraud or negligence. With over a combined century’s worth of experience in the securities industry and securities law, our institutional investor loss law firm has the skills, knowledge, and savvy to represent investors against Wall Street firms.
Unfortunately, misconduct and negligence by financial firms continue to be a big issue. On August 23, 2023, a number of pension funds, led by the Iowa Public Employees’ Retirement, submitted a court filing stating that Goldman Sachs, Morgan Stanley, JPMorgan, and UBS agreed to pay $499M to resolve an antitrust class action lawsuit related to the bank’s control of the market when it comes to stock loans for short selling and hedging.
The pension fund’s lawsuit accused the Wall Street banks of collusion related to all-electronic trading systems that match the borrowers and lenders of stock. The settlement was reached but without any admission of wrongdoing. (Codefendant Credit Suisse settled last year and consented to pay $81M. Bank of America is the sole remaining defendant.)
What Should You Know About Investment Loss Recovery and Pension Funds?
Millions of US citizens rely on their pension funds for financial support later in life. Unfortunately, serious investor losses can happen related to broker fraud or negligence. Unsuitable investment recommendations, stockbroker misappropriation, bad investing advice, misrepresentations and omissions of the risks, and much more can lead to serious pension fund losses. Sometimes it may even be the trustee of the pension fund whose negligent or fraudulent behavior contributed to its losses.
While joining a class action lawsuit is one way to go, institutional investors may want to consider filing their own claim against the broker-dealer. The latter tends to maximize your chances for full financial recovery. In such instances, it is important that you have experienced pension fund fraud lawyers representing you. Not only can we help you assess whether you have grounds for an investment loss recovery case, but also we can apprise you of your rights and represent your lawsuit.
At Shepherd Smith Edwards and Kantas, we understand the unique needs of each of our pension fund clients. We work with both public pension funds and private pension funds. Not only can we identify and assess what went wrong, but also, should we agree to work together, we will fight for the damages we are owed.
How To Contact Our Pension Fund Fraud Attorney Team?
Call (800) 259-9010 today to schedule your free no-obligation case consultation with one of our Pension Fund Fraud Attorney team members.