Lawsuits by or Against Ameriprise
This page lists the various lawsuits by or against Ameriprise. Some of these suits also include lawsuits that were started when Ameriprise was AEFA. Some of these lawsuits are no longer active or have been settled. Also, these lawsuits aren't in chronological order.
Ameriprise faces another RICO lawsuit
You can view the case at http://www.amexsux.com/pdfs/ameriprise_rico2.pdf
Ameriprise faces RICO lawsuit
An AMP advisor uses extortion techniques on the heirs of his dying client. You can view the case at the following link http://www.amexsux.com/pdfs/ameriprise_rico.pdf
A former client sues Ameriprise for fraud in Montana
An AMP advisor convinces a retired couple to invest their life savings in Nuveen Muni Bonds under the guise that the bonds were the same as cash.
In February 2008, when broker-dealers such as UBS declined to continue to participate in dutch auctions that determined the rate of interest for the securities. Up to this point, brokers and issuers had propped up the auctions by acting as a bidder of last resort; without their participation the market quickly folded. Investors were left with "frozen" accounts that in the short term were worth less than expected since they could not be redeemed and the investment houses that created them refused to close them out or return the money.
Needless to say, by the time the couple try to get out of Nuveen it was too late and they lost a significant amount of their savings.
Ameriprise sues another firm over trademark issues
Ameriprise faces Texas lawsuit over failure to deliver "the plan"
A former Ameriprise advisor sues Ameriprise for breach of contract
An advisor was sued by a client. Ameriprise failed to pay for the advisor's defense so former advisor sues for breach of contract. You can view the case at the following link http://www.amexsux.com/pdfs/advisor_sues_amp.pdf
Ameriprise faces a lawsuit over sexual harassment and wrongful termination
H&R Block Financial Advisors faces a class action suit
H&R Block Financial Advisors was recently purchased by Ameriprise. H&R Block Financial advisors faces a lawsuit that you can read at the following link http://www.amexsux.com/pdfs/hrbfa_amp.pdf
Ameriprise sues the Reserve Fund over redemption issues and the file a TRO
You can view a copy of the case at http://www.amexsux.com/pdfs/ameriprise_reserve_fund.pdf plus you can view the temporary restraining order (TRO) at http://www.amexsux.com/pdfs/ameriprise_tro.pdf
Ameriprise/RiverSource fails to pay the death benefit after the policy holder dies
You can view a copy of the case at http://www.amexsux.com/pdfs/ameriprise_no_pay.pdf
Ameriprise pays a fine in Virginia over conflicts of interest
You can view a copy of the case at http://www.amexsux.com/pdfs/viewdocact.pdf
Ameriprise faces a fine in Illinois over conflicts of interest
You can view a copy of the case at http://www.cyberdriveillinois.com/departments/securities/administrative_actions/2008/june/ameriprisefina_noh.pdf
Ameriprise sues Knoxville, TN Credit Union
A former employee of Ameriprise advisor was ripping off clients. Ameriprise claims that the bank shouldn't have allowed the advisor to cash or deposit the client's checks. Ameriprise loses 2 Million as a result of the theft thus they're suing the bank. You can view the case at http://www.amexsux.com/pdfs/ameriprise_sue_tn_bank.pdf
Ameriprise sued over job discrimination
A former employee of Ameriprise was passed over for job promotions. When the former employee complained, Ameriprise terminated his employment. The plaintiff alleges this lack of promotion and termination was a result of him being black. You can view a copy of the case at http://www.amexsux.com/pdfs/ameriprise_discrimination.pdf
Ameriprise file a lawsuit against a former Illinois advisor
Ameriprise terminates the employment of one of their advisors. Ameriprise sues this former advisor claiming she attempted to take her clients with her. You can view a copy of the case at http://www.amexsux.com/pdfs/ameriprise_sue_il_advisor.pdf
Ameriprise client files an arbitration claim due to losses from a Paris Hilton movie
An Ameriprise adviser convinces a couple to invest in a Paris Hilton movie called "Bottoms Up". The couple invest 2 Million Dollars and never saw their money again. You can view a copy of some of the documents at http://www.amexsux.com/pdfs/paris_hilton_movie.pdf
97 clients sue Ameriprise after being scammed by an adviser
The 97 clients were scammed out of 15 Million Dollars over a phony real estate scam in Costa Rica. You can view the case at http://www.amexsux.com/pdfs/ameriprise_scam.pdf
A former adviser sues Ameriprise after being fired for blowing the whistle
A former adviser with Ameriprise sues Ameriprise as a result of being fired due to blowing the whistle on Ameriprise's business practices. The case discusses the lies these advisers tell to up sell these VULs. You can view the case at http://www.amexsux.com/pdfs/ameriprise_bw.pdf
State of New Hampshire sues and fines Ameriprise for forging documents and other misdeeds
You can view the case at http://www.sos.nh.gov/securities/EnforcOrderINV06-003.pdf
State of Georgia sues and fines Ameriprise for forging documents
You can view the case at http://www.amexsux.com/pdfs/AmeripriseFinancialServicesENSC-01007.pdf
Ameriprise sues Oppenheimer over the "Dreams" book
Ameriprise sues Oppenheimer claiming Oppenheimer stole Ameriprise's idea for the "Dream, Plan, Track" campaign. You can view the case at http://www.amexsux.com/pdfs/ameriprise_oppenheimer.pdf
Ameriprise faces lawsuit in Louisiana
Ameriprise faces a lawsuit over the failure of Ameriprise to pay a disability insurance claim as a result of an injury occurred due to evacuating Hurricane Katrina. You can view the case at http://www.amexsux.com/pdfs/ameriprise_di_no.pdf
Ameriprise faces lawsuit in Mississippi
Ameriprise faces a lawsuit over squandering the life savings of a retired couple in Mississippi. You can view the case at http://www.amexsux.com/pdfs/ameriprise_ms.pdf
Ameriprise faces lawsuit over the Wilkov fraud
Ameriprise faces a lawsuit over a real estate investment scam. You can view the case at http://www.amexsux.com/pdfs/ameriprise_fraud_suit.pdf
Ameriprise faces lawsuit over fraud in Georgia by client
A client in Georgia claims Ameriprise defrauded him. You can view the case at http://www.amexsux.com/pdfs/amp_ga_suit.pdf
Ameriprise faces lawsuit by a former advisor over an ADA claim
You can view a copy of the case http://www.amexsux.com/pdfs/amp_advisor_ada.pdf
State of New Hampshire vs. AEFA
This lawsuit was started by the State of New Hampshire and the suit complains that AEFA defrauded clients residing in the state of New Hampshire. The lawsuit states the fraud occured as a result of AEFA failing to disclose various conflicts of interests to clients. An example of this failure to disclose was that top performing advisors of American Express mutual funds received a one year free lease on a Mercedes. You can view the case at http://www.sos.nh.gov/securities/EnforceOrderINV04-122.pdf. You can see a discussion of this case on the message boards at http://www.amexsux.com/cgi-bin/yabb/YaBB.cgi?num=1119560018.
Ameriprise sues Home National Bank
Ameriprise sues this bank as a result of an Ameriprise advisor stealing from clients. Ameriprise claims in the suit the bank shouldn't have allowed the advisor to steal from their clients by signing checks. Basically, Ameriprise was clueless on what was happening until the advisor passed away and the scam was exposed. You can read the case at http://www.amexsux.com/pdfs/ameriprise_sues_bank.pdf.
A Tennessee couple and their daughter sue Ameriprise over losing their life savings
The couple and their daughter use Ameriprise for financial planning. As a result of high fees and other misdeeds, their life savings is squandered. You can view a copy of the suit at http://www.amexsux.com/pdfs/ameriprise_retirement.pdf
Former Kansas City Royals baseball player sues Ameriprise
A former KC Royals baseball player used Ameriprise for financial planning after he received a large signing bonus from the Royals. After gaining the baseball player's trust, the advisor squandered most of the signing bonus as a result of high fees and other fraudelent issues. You can view the case at http://www.amexsux.com/pdfs/ameriprise_az_royals.pdf.
Three African-American Advisors in PA sue Ameriprise over racial discrimination
These advisors were top performers and they received high marks yet Ameriprise fires the three for unclear reasons. The three advisors sue Ameriprise claiming they were fired as a result of their race. You can view the suit at http://www.amexsux.com/pdfs/ameriprise_racial_case.pdf.
A couple in Houston sue Ameriprise over their annuity
A couple in Houston purchase an annuity through Ameriprise. After the fees eat away at their annuity, this couple is left with hefty losses. You can view the case at http://www.amexsux.com/pdfs/annuity_suit.pdf.
Ameriprise sues a Massachucetts Advisor
This advisor leaves Ameriprise and Ameriprise claims the advisor stole clients and other trade secrets as a result of his departure from Ameriprise. You can view the suit at http://www.amexsux.com/pdfs/ameriprise_sues_advisor.pdf.
A couple in West Virginia sue Ameriprise over squandering their life savings
After retirement, this couple transfer their 401(K) to Ameriprise. As a result of various activites by the advisor, this couple's retirement savings is depleted. You can view the suit at http://www.amexsux.com/pdfs/clients_wv_case.pdf.
Ameriprise sues Michigan advisors over departure
These advisors leave Ameriprise and Ameriprise claims the advisor stole clients and other trade secrets as a result of his departure from Ameriprise. You can view the suit at http://www.amexsux.com/pdfs/ameriprise.pdf.
The State of Arizona sues Ameriprise over an advisor forging client's signatures
The State of Arizona sues Ameriprise claiming Ameriprise failed to supervise an advisor stealing from clients. You can view the case at http://www.ccsd.cc.state.az.us/enforcement/Orders/2006/Sept12-06.pdf.
A client of Ameriprise tries to remove his money from Ameriprise without success
A client tries to transfer his funds out of Ameriprise and is unable to. The client files a suit which can be viewed at this link http://www.amexsux.com/pdfs/amp_release_lawsuit.pdf.
An Ameriprise client sues Ameriprise over disability payout
A client attempts to collect on a disability insurance payout and is denied. The client files suit which can be viewed at this link http://www.amexsux.com/pdfs/ameriprise_disability.pdf.
The State of Massachucetts sues Ameriprise over failure to supervise
A Massachucetts advisor steals from clients to pay for trips to Russia to look for a Russian bride. The State of MA claims Ameriprise failed to supervise. You can view the suit at http://www.sec.state.ma.us/sct/sctpdf/Ameriprise.pdf.
A Florida Couple sue Ameriprise over a trust account
A Florida couple have issues with the way Ameriprise handles their trust account. You can view a copy of the case at http://www.amexsux.com/pdfs/trust_lawsuit.pdf.
The State of Arizona sues Ameriprise over failure to supervise
The State of Arizona sues Ameriprise claiming Ameriprise failed to supervise an advisor stealing from clients. You can view the case at http://www.ccsd.cc.state.az.us/enforcement/Orders/2005/Dec05-05b.pdf.