Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Wednesday, April 20, 2011

Ameriprise, Securities America Seek Court Approval of Settlement

Ameriprise Financial and Securities America have reached an $80 million settlement with investors in class actions involving two failed investments, Provident Royalties and Medical Capital.  The settlement requires judicial approval, and the federal district court judge in Dallas rejected a previous proposed settlement.  The firms also agreed to pay $70 million to investors who filed arbitration claims.  InvNews, Ameriprise, investors seek court's OK on deal

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