On November 11, 2013, a class action law suit was filed against U.S. Bank, one of the largest American banks, on behalf of introducing brokers that did business with PFG Best. The action, filed in the Northern District of Illinois and docketed as Fintec Group, Inc. v. U.S. Bank, N.A., aims to recover for IB losses resulting from PFG’s collapse, including unpaid commissions, security deposits and potentially other amounts.
One of the attorneys representing the lead plaintiff in that suit, Larry Landsman, would like to communicate with any IBs impacted by the PFG bankruptcy to deepen his understanding of the circumstances and impact PFG's collapse had on the IBs. Any NIBA members or other such IBs interested in speaking with Larry are encouraged to contact him by e-mail at larry@block-landsman.com or by phone at 312-251-1144.
