Judge Pauses Lawsuit Over 8,000-Advisor LPL-Ameriprise Transfer; AMP Highlighted in GARP Picks
A court granted advisors’ motion to pause the class-action lawsuit over the migration of 8,000 Ameriprise advisors to LPL Financial pending arbitration, limiting Ameriprise’s immediate litigation exposure. AMP was named among four GARP strategy picks — alongside APH, GE and RMD — for its solid growth outlook and discounted valuation.
1. Court Halts LPL-Ameriprise Advisor Lawsuit
A judge approved advisors’ request to stay the class-action lawsuit challenging the migration of 8,000 advisors from Ameriprise to LPL Financial. The pause remains in effect while arbitration proceeds, reducing Ameriprise’s near-term exposure to potential damages and legal costs.
2. AMP Named in GARP Strategy Picks
AMP was listed as one of four growth-at-a-reasonable-price stocks, joined by APH, GE and RMD, for its favorable growth projections and discounted valuation metrics. Inclusion in the GARP list could draw value-oriented investors seeking companies with upside potential relative to their intrinsic value.