Finance Expert On Securities America Inc.

Finance expert witness Timothy Hurley says Ameriprise Financial Inc. could spend $110 million or more to bail out its beleaguered independent-broker-dealer subsidiary Securities America Inc. Hurley provided an analysis of Ameriprise and its relationship to its subsidiaries as part of a continuing class action against the two companies.

The $110 million figure is particularly relevant this week. Attorneys for plaintiffs suing the firm and attorneys representing Securities America sit down Thursday for a court-ordered mediation. That gathering could end the dispute over $400 million in soured private placements — creating a “global settlement” for all investors suing the firm.

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About Karen Olson

Information Professional with twenty years experience in legal, public record, and business research. Fifteen years law firm experience.

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