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PHILADELPHIA, Nov. 25, 2024 /PRNewswire/ -- Berger Montague, a national plaintiffs' law firm, is pleased to announce that is has been named Interim Co-Lead Counsel in proposed class actions arising out of cash sweep programs maintained by UBS Financial Services Inc. and LPL Financial Holdings, Inc. Last month, Berger Montague was appointed Interim Co-Lead Counsel in a similar proposed class action against Ameriprise Financial Inc. The lawsuits allege that these cash sweep programs use clients' uninvested cash to reap substantial profit for the financial institutions and pay their clients unreasonably low interest rates.
Berger Montague remains at the forefront of recent litigation against financial institutions that maintain unlawful cash sweep programs. "We intend to continue to vigorously pursue these important cases," said Michael Dell'Angelo, Executive Shareholder and General Counsel of Berger Montague. "The proposed classes have lost hundreds of millions of dollars of interest due to the improper use of their uninvested cash," added Mr. Dell'Angelo.
The Berger Montague team leading these are Mr. Dell'Angelo, and Senior Counsels Andrew Abramowitz, and Alex B. Heller.
Read more about the cases here.
Berger Montague is one of the nation's preeminent law firms focusing on complex civil litigation, class actions, and mass torts in federal and state courts throughout the United States. The firm is active in the fields of securities, antitrust, commercial litigation, consumer protection, defective products, environmental law, employment law, and whistleblower cases, among many other practice areas. For more than 50 years, Berger Montague has played lead roles in precedent-setting cases and has recovered over $60 billion for its clients and the classes they have represented. Berger Montague is headquartered in Philadelphia and has offices in Chicago, Minneapolis, San Diego, San Francisco, Toronto, Washington, D.C., and Wilmington, DE.
Contact:
Amy Wall-Monte
215.875.3021
awallmonte@bm.net
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SOURCE Berger Montague