Questions tagged [lawsuit-settlement]

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0answers
59 views

Are short sellers responsible for damages in a securities class action suit?

Imagine that XYZ company was found liable for its misdeeds and its shareholders are awarded a compensation. Are the short sellers on the hook as well? That is, do they need to pay the amount of the ...
1
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0answers
71 views

Received a settlement check for lost wages, what kind of taxes apply?

I received a settlement check from a company for lost wages, and was given a 1099 for 2019. The check itself was for about $2.3k USD, and included a breakdown that didn't make sense to me and showed ...
2
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0answers
49 views

Tax Document/Notification for Arbitration Award

In late 2017, I went through arbitration with a business and was awarded approximately $950 (USD) in the form of a check. My experience has always been that anything over $600 from a business, in ...
0
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0answers
159 views

Do I need to 1099 my attorney in a settlement that paid the attorney directly?

Do I need to send my attorney a 1099 if they were paid directly in a settlement but I got a 1099-Misc box 3 (other income) from the other party who paid the attorney the full amount of the settlement (...
2
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0answers
71 views

Where to report 1099-Misc income and attorney expenses for a lawsuit settlement? [duplicate]

I personally received a 1099-Misc for a settlement income with a creditor that was incorrectly reporting information on my credit report. The settlement read in part: Bank agrees to pay Customer $...
1
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1answer
140 views

Class action settlement reached for former stock holders. Is it worth the hassle to participate?

I received a letter that class action settlement has been reached for former CHTP stock holders. If I understand correctly I would have to file a claim and I could possibly get some money back if I ...
2
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1answer
163 views

How would I prove my claim in a class action settlement on a “stock misconduct” case when I shorted the stock?

In order to participate in a net settlement fund, a claimant must have "purchased or otherwise acquired stock". If I shorted does the stock did I "purchase it or otherwise acquire it"?
0
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2answers
918 views

When investing a settlement, what tax ramifications should be considered?

Let us suppose that someone receives a lump sum settlement from a car accident (personal injury) case and would like to invest it for maximum long-term returns. We will say that the settlement amount ...
4
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1answer
1k views

What happens to class action awards for a stock in an IRA?

One of the individual stocks I own in an IRA account recently lost a bunch of value, allegedly due to misconduct on its officers' part, and is now the defendant in a bunch of class action lawsuits on ...
2
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1answer
243 views

Are IRAs and 401(k)s protected against lawsuits and garnishments?

There's as similar question about bankruptcy, but these protections apply to lawsuits or garnishments?
2
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1answer
257 views

1099 for settlement what about lawyer fees?

I am getting a settlement from a business over a suit but most of the settlement will go to the attorney to cover their fees incurred on contingency. If the 1099 reports the full settlement, will I ...