New Suit

Royal Bank of Canada and its subsidiary City National Bank were sued Tuesday in California Central District Court for alleged whistleblower retaliation in violation of the Sarbanes-Oxley Act. The suit was brought by attorney Lincoln Ellis and King & Siegel on behalf of Fausto Bustos, a former senior VP at City National Bank who contends that he was unlawfully terminated because he complained about lax internal controls and accounting errors. Counsel have not yet appeared for the defendants. The case is 2:21-cv-04879, Bustos v. Royal Bank of Canada et al.

Banking & Financial Services

June 15, 2021, 11:03 PM