PHILADELPHIA–(BUSINESS WIRE)–Kaskela Law LLC announces that a class action lawsuit has been filed against Stifel Nicolaus & Co., Inc. (āStifelā) on behalf of certain Stifel customers who maintained brokerage accounts with automatic cash sweep programs.
According to the complaint, āStifel violated its fiduciary, contractual, and implied duties by underpaying its clients to enrich itself and its affiliates at its clientsā expense. Rather than pay clients a fair and reasonable rate of interest on their cash balances and put their clientsā interests above its own as it was obligated to do, Stifel instead paid de minimis rates to its clients, unjustly obtaining for itself and its affiliates hundreds of millions of dollars from that cash during periods of rising interest rates.ā
Stifel brokerage customers are encouraged to contact Kaskela Law LLC (D. Seamus Kaskela, Esq. or Adrienne Bell, Esq.) for additional information about this matter and their legal rights and options ā including a no cost evaluation of their potential legal claims ā at (484) 229 ā 0750, or by email at [email protected] or [email protected].
Kaskela Law LLC represents consumers and investors in securities fraud, corporate governance, and merger & acquisition litigation on a contingent basis. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com.
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Contacts
KASKELA LAW LLC
D. Seamus Kaskela, Esq.
([email protected])
Adrienne Bell, Esq.
([email protected])
18 Campus Blvd., Suite 100
Newtown Square, PA 19073
(484) 229 ā 0750
www.kaskelalaw.com
