An E. F. Hutton shareholder sued the firm.

Harold Hancock filed a class-action suit against the brokerage firm, charging that it illegally concealed the fact that it faced serious criminal penalties for its cash management practices. Hutton, the nation’s fifth-largest brokerage firm, and its corporate parent pleaded guilty Thursday to 2,000 counts of federal mail- and wire-fraud violations stemming from bank transactions between 1980 and 1982. The suit said that a 10-Q report filed with the SEC on April 19, 1984, in which the company disclosed the investigation, was “false and misleading.” The suit seeks unspecified damages for all investors who bought Hutton stock between the time of the 10-Q filing and Thursday’s guilty plea.