Articles Tagged with Best Chicago Business Dispute Lawyers Near Naperville

A bank’s negligence suit against a check-cashing company was dismissed when the district court found that there was no private right of action under which the bank could sue to enforce regulations regarding the safeguarding of personal financial information.

USAA provides banking services to members and veterans of the United States military. PLS Group, Inc. provides payday loan and check cashing services at 300 retail locations in eleven states. PLS charges its customers a fee to cash checks or purchase money orders. PLS often cashes checks drawn on USAA bank accounts. When it cashes a check, PLS obtains information about the drawer of the check, including their name and signature, account and routing numbers, and encoded information used to verify the legitimacy of the checks.

In October 2012, PLS settled a suit brought by the Federal Trade Commission which alleged that PLS did not properly secure its’ customers’ information. Despite making changes to its processes, problems with unauthorized access to customers’ personal information continued. Nine individuals were later indicted by the government for engaging in a check-cashing scheme that used information from PLS employees to create fraudulent checks. Some of these counterfeit checks were drawn on USAA bank accounts. PLS employees involved in the scheme received a portion of the proceeds from the scheme. Continue reading ›

Family disputes can turn nasty, as can business disputes, but there are few things worse than business disputes between family members.

Recently, Robert F. Tigani Jr. and his brother, Chris Tigani, filed a lawsuit against their father, Robert F. Tigani Sr., for allegedly abusing his position as trustee to divert funds and assets away from his children for his own benefit.

Tigani Sr. is a chairman of N.K.S. Distributors, a franchise of Anheuser-Busch for Delaware that was founded in 1960. The lawsuit alleges he took advantage of his position as chairman, and as trustee of an irrevocable trust that was created by his parents (who founded the company) to ensure the company remained in the family.

According to the complaint, when the trust was created in 1986, Tigani Sr. owned 42% of N.K.S. shares and 58% were set aside to benefit Robert Jr., Chris, and their children, with Tigani Sr. appointed trustee. But the lawsuit alleges Tigani Sr. abused his position to issue himself extra shares of the company, giving him a controlling interest in the distribution company. He allegedly concealed the improper issuance of these funds from his sons, and when they suspected him of misconduct, he allegedly refused to show them company records of the transactions. Continue reading ›