Posted by Levaquin Class Action lawsuit, also known as Levaquin Lawsuit is the lawsuit filed in the U.S. by various law firms who have suffered huge losses while conducting Levaquin Wealth Management, a financial advisory practice in the past. The case is mainly fought on the basis of breach of fiduciary duty, discrimination and negligence.
The first case was filed against Bank of America under the law firms’ ethically stringent National Association of Consumer Credit Counseling (NACCC) code. Bank of America has settled the case out of court and they have not admitted any wrongdoing. However other than this, there are several other law firms who have been involved in the case.
Levaquin Class Action Lawsuit
The complaint filed in the case claims that Levaquin’s representatives discussed the plan of the firm with at least three Levaquin clients prior to advising the clients that they should join Levaquin. While discussing the plan, Levaquin representatives made it clear that the only way to increase their wealth would be to resort to illegal means.
The clients were told that their wealth would be increased by defrauding honest banks or other investors and then taking large sums of cash from them. They were further told that once their defrauding transactions were completed, their status would be raised so that they could start new businesses.
Levaquin’s representatives further told the victims that if they pursued the fraud scheme they would not have any liability.
According to the complaint, the victims were willing to pay upfront fees in return for providing false information and making investment promises which did not materialize. Even after telling them about the fact that the plan they had invested in was a sham, they still failed to make any amendments to their original investment plan. After being trapped into a huge financial lie, the victims had almost lost all hope that anything would ever work out for them.
Class action lawsuit is a legal process in which individual plaintiffs try to gain monetary damages due to the negligence of another person or entity.
The case can be filed in federal court, state court or in a bankruptcy court. In the case of Levaquin, the class action lawsuit was filed against Citibank, a major commercial bank. Citibank, the bank, is the defendant in this case because it has been negligent in terms of approving home loans for hundreds of thousands of its customers. The class action lawsuit is expected to be one of the most important cases in the past decade for homeowners who are suffering due to the housing crisis.
Levaquin, the company which operates the Levaquin Class Action Lawsuit, has already received approval from the Federal Court to launch its own class action lawsuit.
However, a group of investors, who invested in Levaquin, claim that the company is fraudulent and intends to swindle money from people through the law. The group of shareholders who filed the class action lawsuit claim that Levaquin is part of a network of companies which are involved in fraudulent activities.
They further claim that these companies include Wells Fargo Bank, Wachovia Bank and Chase Bank, who are the major victims in this case. The lawyers for the plaintiffs in this case are expected to battle these claims vigorously in court.
Levaquin’s attorney has denied the allegations and says that the lawsuit is being filed by a fraudulent group of investors.
“There is no truth to this type of allegations. We have carefully reviewed the complaint in question and have found it to be entirely accurate and not in violation of any statute. We intend to file a response to the complaint in this matter and will continue to fight vigorously to protect our clients’ rights,” said lawyer John S. Laver, of the Law Office of John J. Laver. A hearing on the lawsuit is scheduled for later this month.