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Part 7: Securities Fraud: When "good" Investments Disappear
The nest egg stories
Cases of investment and securities fraud come in many sizes. It is hard not to feel for middle aged and older individuals who have seen their life savings and pension investments shrivel or disappear while under the supposedly watchful eye of some third party.
Latest Lawsuit News & Legal Information
Unum: the Gift of Giving and Taking AwayChicago, IL:
Yet another lawsuit was filed in November against First Unum for allegedly denying long-term disability benefits. In the same month, Unum announced to the media that it had donated $300,000 to a high-school girls’ leadership program.
California Independent Contractor Rules Collapse in ConfusionSan Diego, CA
In 2015 Jesus Cuitlahuac Garcia, a taxi driver, filed a California unpaid wages lawsuit against Border Transportation Group (BTG) claiming unpaid wages, wrongful termination and a variety of related labor law violations. In October 2018, the California Court of Appeal, Fourth Appellate District handed
Mr. Garcia an apparently empty victory.
Monsanto has appealed a $78 million award to DeWayne Johnson, More Lawsuits ComingSan Francisco CA
: School groundskeeper DeWayne Johnson was diagnosed with non-Hodgkin's lymphoma in 2014 at the age of 42. He is the first cancer victim to take Monsanto (now owned by drug giant Bayer) to court. In August, Johnson was awarded $289 million but damages were later to reduced to $78 million. And the first out of more than 620 Monsanto cancer cases pending in federal litigation is set for February 2019, according to Reuters
Hacks, Embezzlements, and 401(k) Mismanagement – What You Can Do to Protect Your Retirement Nest EggWashington, DC
When asked why he robbed banks, Willie Sutton reportedly replied, “Because that’s where the money is.” Now, however, roughly $5 trillion, or a fifth of all U.S. retirement assets, sit in 401(k) accounts
. Today’s Willie Suttons are there, too, as recent ERISA lawsuits and criminal prosecutions confirm.
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