On October 04, 2010, and on October 05, 2010, a complaint and an amended complaint were filed by the plaintiffs against the defendants alleging that Royal Alliance and Georgetown Capital represented to and advised plaintiffs and the public that they, with Geidel as their agent, strive to advise clients "who have been working all their lives and are too afraid to retire because they are uncertain about their financial future," and that they would "map out a strategy" to achieve financial goals that would take "into consideration the client's goals, time frame, investment experience and risk tolerance."
The plaintiffs allege that Royal Alliance and Georgetown Capital failed to use due care in the enforcement and/or implementation of and/or failed to adequately enforce and/or implement any procedures that they did have in place to review, monitor, or supervise their registered representatives and investment advisors.
On October 5, 2010, an Amended Complaint was filed. The complaint was again amended by the filing of a Second Amended Complaint on March 14, 2011. The case soon after began mediation. On November 3, 2011, the plaintiffs filed a motion to certify the class.
On June 5, 2013, the parties entered into a Stipulation to dismiss this case with prejudice based on the terms of a confidential Settlement Agreement.