BG&G Blog

Payments from the $626 million Flint water crisis settlement are actively being distributed in 2026. Property damage payments began in late 2025, adult injury payments began in June 2026, and a new batch covering teen claimants and businesses was released on July 23, 2026. More than 12,500 awards have been issued to date.

A consumer class action is a lawsuit brought by a large group of people who suffered the same harm — typically financial or related to a defective or mislabeled product — and who join together to hold a company accountable. A product liability lawsuit is a claim brought by an individual (or a small group) who was physically injured by a dangerous or defective product. The two can overlap, but they serve different purposes and work very differently. Here’s what you need to know.

A securities investigation is a law firm’s private inquiry into whether a case exists. A filed lawsuit is a formal legal proceeding in federal court. They are not the same thing — and confusing the two can cause investors to miss critical deadlines or wait passively for a recovery that may never come.

If a company you invested in committed securities fraud, you may assume the claim only applies to shares you held in a regular brokerage account. Many investors do. But if those same shares were held inside a retirement account — an IRA, a Roth IRA, a 401(k) — you likely still have the right to recover your losses. The type of account doesn’t determine whether fraud occurred or whether you were harmed by it.

A Lead Plaintiff is the investor appointed by the court to represent all other class members in a securities class action lawsuit. Think of it as being the captain of the team — you do not have to do the legal heavy lifting yourself, but you have a real say in how the case is handled and an opportunity to maximize the recovery for every investor involved.

Stock buybacks are legal and common — they’re protected by an SEC safe harbor when done correctly. But that safe harbor has limits. When a company repurchases its own stock while insiders possess material non-public information, or while the company is making misleading statements to the market, the buyback itself can become grounds for a securities fraud case.

There’s no blanket rule that crypto is or isn’t a security. Courts and regulators apply the decades-old Howey test on a case-by-case basis, asking whether a digital asset was sold as part of an investment contract. As of March 2026, the SEC has issued new interpretive guidance sorting crypto assets into categories — but the underlying legal test, and the risk of fraud claims for investors, hasn’t gone away.

A securities class action is a private lawsuit filed by investors to recover their own financial losses, while an SEC enforcement action is a case brought by the government to penalize wrongdoing and deter future violations. The two can happen at the same time, but only a class action puts money directly back in investors’ pockets.