U.S. Bank to pay $44.5 million in brokerage-fraud case

U.S. Bank is willing to pay $44.5 million to settle a class-action lawsuit by customers of Peregrine Financial Group, which collapsed in 2012 after funds were siphoned away by the brokerage’s founder, said Reuters. The proposed settlement was disclosed in a court filing. It would resolve the lawsuit, which accuses the bank of failing to carry… » Read More

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