{"id":85044,"date":"2024-09-21T16:35:05","date_gmt":"2024-09-21T16:35:05","guid":{"rendered":"https:\/\/pakistaninewspaperlist.com\/news\/cash-sweeps-investigation-alert-dicello-levitt-llp-is-investigating-cash-sweeps-programs-in-investment-accounts-account-holders-encouraged-to-contact-the-firm\/"},"modified":"2024-09-21T16:35:05","modified_gmt":"2024-09-21T16:35:05","slug":"cash-sweeps-investigation-alert-dicello-levitt-llp-is-investigating-cash-sweeps-programs-in-investment-accounts-account-holders-encouraged-to-contact-the-firm","status":"publish","type":"post","link":"https:\/\/pakistaninewspaperlist.com\/news\/cash-sweeps-investigation-alert-dicello-levitt-llp-is-investigating-cash-sweeps-programs-in-investment-accounts-account-holders-encouraged-to-contact-the-firm\/","title":{"rendered":"CASH SWEEPS INVESTIGATION ALERT: DiCello Levitt LLP Is Investigating Cash Sweeps Programs in Investment Accounts; Account Holders Encouraged to Contact the Firm"},"content":{"rendered":"
\n

SAN DIEGO, Sept. 21, 2024 (GLOBE NEWSWIRE) — DiCello Levitt LLP is investigating whether large financial institutions and their investment adviser affiliates violated the law and their duties to act in the best interest of their advisory clients by funneling uninvested cash held in discretionary investment accounts to affiliated banks and negotiated one-sided deals that enriched the banks and their affiliates while paying customers paltry interest rates as compared to what\u2019s offered on the market. As reported by Bloomberg<\/em>, Robert Jackson, a New York University law professor and former SEC commissioner, called it a \u201ctrillion-dollar conflict of interest\u201d that has affected retail investors around the country.\u00a0\u00a0 The United States Securities and Exchange Commission has initiated several probes into how investment adviser firms manage their cash sweep programs.<\/p>\n

If you have or had an account with an investment adviser, you are encouraged to obtain additional information and assist the firm\u2019s investigation by contacting DiCello Levitt partners Steve Jodlowski, Brian O\u2019Mara or Alexander Barnett by calling (888) 287-9005 or at investors@dicellolevitt.com<\/a>. Among other institutions, the firm is investigating cash sweeps practices at the following banks and investment advisera firms:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n
American Enterprise Investment Services<\/td>\nMorgan Stanley Smith Barney LLC<\/td>\n<\/tr>\n
Ameriprise Financial Services<\/td>\nNational Financial Services, LLC<\/td>\n<\/tr>\n
Bank of America<\/td>\nPNC Financial Services Group, Inc.<\/td>\n<\/tr>\n
E*Trade Securities LLC<\/td>\nPNC Investments, LLC<\/td>\n<\/tr>\n
Edward Jones<\/td>\nRaymond James Financial, Inc.<\/td>\n<\/tr>\n
Fidelity Investments<\/td>\nStifel Financial<\/td>\n<\/tr>\n
J.P. Morgan Securities LLC<\/td>\nUBS Financial Services Inc.<\/td>\n<\/tr>\n
JPMorgan Chase & Co.<\/td>\nWells Fargo Advisors<\/td>\n<\/tr>\n
Merrill Lynch<\/td>\n\u00a0<\/td>\n<\/tr>\n
\u00a0<\/td>\n\u00a0<\/td>\n<\/tr>\n<\/table>\n

Until you file a case or a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice.<\/p>\n

About DiCello Levitt:<\/strong><\/p>\n

At DiCello Levitt, we are dedicated to achieving justice for our clients through class action, business-to-business, public client, whistleblower, personal injury, civil and human rights, and mass tort litigation. Our lawyers are highly respected for their ability to litigate and win cases \u2013 whether by trial, settlement, or otherwise \u2013 for people who have suffered harm, global corporations that have sustained significant economic losses, and public clients seeking to protect their citizens\u2019 rights and interests. Every day, we put our reputations \u2013 and our capital \u2013 on the line for our clients.<\/p>\n

DiCello Levitt has achieved top recognition as Plaintiffs Firm of the Year and Trial Innovation Firm of the Year by the National Law Journal<\/em>, in addition to its top-tier Chambers<\/em> and Benchmark<\/em> ratings. The New York Law Journal<\/em> also recently recognized DiCello Levitt as a Distinguished Leader in trial innovation. For more information about the Firm, including recent trial victories and case resolutions, please visit www.dicellolevitt.com<\/a>.\u00a0<\/p>\n

Attorney Advertising. Prior results do not guarantee a similar outcome.<\/p>\n

Media Contact<\/strong><\/p>\n

Amy Coker
4747 Executive Drive, Suite 240
Second Floor
San Diego, CA 92121
619-963-2426
investors@dicellolevitt.com<\/a><\/p>\n

\n <\/div>\n","protected":false},"excerpt":{"rendered":"

SAN DIEGO, Sept. 21, 2024 (GLOBE NEWSWIRE) — DiCello Levitt LLP is investigating whether large financial institutions and their investment adviser affiliates violated the law and their duties to act in the best interest of their advisory clients by funneling uninvested cash held in discretionary investment accounts to affiliated banks and negotiated one-sided deals that 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