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Have Fidelity Investments ever been sued? Are there many lawsuits filed against this gold IRA company?
Are Fidelity Investments a scam? Or are they one of the best gold US gold investment companies or not?
Read my guide below to find out!
- Have Fidelity Investments Even Been Sued?
- Lawsuit 1- Miller v. Fidelity Investments
- Lawsuit 2- Fidelity obtains dismissal of all claims relating to alleged filing of suspicious activity report, affirmed by First Circuit
Table of Contents
Have Fidelity Investments Even Been Sued?
Yes, Fidelity Investments have been sued in the past. There’re currently only 2 lawsuits filed against them.
I detail these lawsuits below.
Lawsuit 1- Miller v. Fidelity Investments
On January 9, 2020, Miller initiated a civil lawsuit concerning constitutional and civil rights violations against Fidelity Investments. The case was filed in the U.S. District Court for the Northern District of Ohio under the oversight of Judge Solomon Oliver, Jr., and remains active.
Lawsuit 2- Fidelity obtains dismissal of all claims relating to alleged filing of suspicious activity report, affirmed by First Circuit
Jones Day successfully defended Fidelity Brokerage Services against a lawsuit filed by two former customers and their investment advisor. The plaintiffs claimed they were investigated by regulators because Fidelity allegedly filed a suspicious activity report (SAR) accusing them of market manipulation involving a bankrupt Chinese medical device company.
In August 2018, the Massachusetts federal district court dismissed all thirteen claims, ruling that financial institutions like Fidelity have immunity under the Bank Secrecy Act from SAR-related liability. The First Circuit affirmed this decision in April 2019, establishing that BSA immunity applies even when a SAR alleges “objectively impossible” violations. The Supreme Court denied the plaintiffs’ petition for review in February 2020.
Fidelity Investments Lawsuit Guide- Everything You Need to Know (Regularly Updated) Conclusion
Fidelity Investments have only been sued 2 times. Meaning, there are only 2 lawsuits filed against them. That’s impressive given that the company is more than 70 years old at the time of writing this Fidelity Investments lawsuit guide.
Fidelity Investments are neither a scam nor a pyramid scheme. Instead, they’re a legit precious metal investment company helping American investors enrich their portfolios with gold, silver, platinum and palladium.
References:
- Fidelity obtains dismissal of all claims relating to alleged filing of suspicious activity report, affirmed by First Circuit- https://www.jonesday.com/en/practices/experience/2020/02/fidelity-obtains-dismissal-of-all-claims-relating
- Miller v. Fidelity Investments- https://unicourt.com/case/pc-db5-miller-v-fidelity-investments-296519
Nikola Roza
Nikola Roza is a blogger behind Nikola Roza- SEO for the Poor and Determined. He writes for bloggers who don't have huge marketing budget but still want to succeed. Nikola is passionate about precious metals IRAs and how to invest in gold and silver for a safer financial future. Learn about Nikola here.
