Our Stock Fraud Lawyers Hold Brokers Accountable
Get Help When You’ve Lost Money Due to Misconduct or Negligence
You take a risk every time you invest in the financial markets, but the risk should never lie with your stockbroker or financial planning institution. You should always be able to trust that your broker is putting your financial interests ahead of their own. Sadly, it is all too common for brokers and financial advisors to engage in fraud and careless conduct that results in considerable monetary losses to investors.
If this sounds like what you’re going through, you’re not alone. At Wolper Law Firm, P.A., we have represented countless victims of stock fraud, negligence, and misconduct. If you have lost significant funds, our experienced stock fraud lawyer may be able to recover your losses by holding your broker and/or brokerage firm accountable through arbitration or litigation. We have recovered money in over 99% of cases. Call us at 800.931.8452 to schedule a free consultation.
If you are a victim of stock fraud, you may be able to hold your broker or brokerage firm accountable. Get help pursuing legal action by contacting an experienced stock fraud attorney.
Why Trust Our Law Firm with Your Case? We Have In-Depth Experience on Both Sides of the Investments Industry.
There are many reasons victims of stock fraud have entrusted us with their cases over the years. We hope you will, too. Before starting his own practice advocating for wronged investors, our stock fraud lawyer spent years defending brokerage firms against fraud accusations. This experience gives us unique insight into how brokers and their firms think and operate, which benefits you. It allows us to predict the defenses brokers will use and be prepared to counter them.
Our case results highlight our successes on behalf of clients. Additionally, we belong to PIABA, which is an international legal association whose members are dedicated to getting positive outcomes for investors in disputes against brokers and brokerage houses. Our responsive stock fraud attorneys practice nationwide, so no matter where you live, you can rest assured knowing that a well-qualified stock fraud lawyer is available to handle your case.
Don’t let yourself be cheated out of your hard-earned money by an unscrupulous stockbroker. Speak to a stock fraud lawyer by calling 800.931.8452 or contacting us online.
“If it’s possible to award someone 100 stars, then Matt Wolper would be that recipient. He was my hero, seriously, what a good guy, so thorough, kind, and right there! He helped me when in a terrible mess with an investment firm that lied to me and scammed me of so much money. Matt retrieved my losses and good news, he was then called in to help 3 others, same firm, same problem! I can’t recommend Matthew highly enough! He’s wonderful!!” – Serena C.
How Do Brokers Commit Stock Fraud?
Just because you lost money on the stock market, this does not mean a broker was to blame. All stock investments carry some risk. But if you have suddenly lost a significant amount of money or sustained large losses steadily over time, you may be the victim of fraud, especially if some of the common signs of fraud are present.
Common Signs of Fraud
Here are some signs that a broker may be committing fraud against you:
- The broker tries to pressure you into quickly making an investment decision. Legitimate investment opportunities don’t disappear overnight. If you are being pressured, walk away.
- You see many unexplained transactions you did not authorize in your accounts. If these transactions cannot be explained, it could be due to fraud by your stockbroker.
- Your broker consistently pushes stocks and other securities that are not in line with your goals and risk tolerance, which could mean they are trying to line their own pockets rather than putting your needs first.
Brokers and financial advisers have a duty to investors to act with reasonable care and in good faith in providing investment advice. If your broker has failed to do so in your case and you have lost a lot of money, you may be entitled to financial compensation. Turn to our law firm for guidance about your legal options by reaching out today for a free consultation.
There are a variety of ways that dishonest brokers and investment advisers accomplish their fraudulent schemes. Some of the most common ways that stockbrokers engage in misconduct include the following:
- Making unsuitable investment recommendations. When brokers recommend stocks that are not in line with their clients’ goals or risk tolerance and clients lose substantial money, they could be liable for making unsuitable investment recommendations.
- Unauthorized trading. Unauthorized trading is when brokers make trades in non-discretionary accounts without permission.
- Excessive trading or churning. Brokers may trade excessively to generate money for themselves through commissions, which is called churning.
- Lack of diversification. Investment portfolios that are overly concentrated in certain areas carry high risk. Lack of diversification is one of the more common and serious errors made by brokers and advisors.
- Failure to supervise. If a brokerage house fails to properly train or supervise brokers or monitor them for fraud, and clients lose money, the firm may be held accountable.
- Misrepresentation or omission. If a broker leaves out pertinent information or misleads you about the risk involved in an investment opportunity, they may be guilty of misrepresentation or omission.
- Embezzlement. Embezzlement is when brokers steal from their clients’ accounts.
- Late-day trading. Late-day trading, which is illegal, is the practice of performing mutual fund transactions after markets close, in order to get price advantages.
Whether you lost money due to intentional fraud or broker carelessness, our stock fraud attorneys will work hard to try and recoup your losses. We stand up against dishonest and negligent brokers and financial advisors who prey on trusting investors.
Learn what legal options are available to you when you have lost money due to broker fraud or negligence. Call us at 800.931.8452 to arrange a free, no-obligation consultation with a knowledgeable stock fraud attorney.
How Can We Help You Recover Your Money?
In the majority of stock fraud cases, investors recover money through FINRA arbitration. FINRA, which stands for Financial Industry Regulatory Authority, is an organization overseen by the U.S. Securities and Exchange Commission that regulates brokers and brokerage firms. When you opened your brokerage account, you most likely signed paperwork that limited you to arbitration in the event of a dispute. If there is no such language in your customer agreement, you may have another option of suing your broker in civil court. Once we review your brokerage documents, we will counsel you about a possible path to recovering your money.
Overview of FINRA Arbitration Process for Stock Fraud
To potentially be awarded compensation through arbitration for the losses you sustained due to stock fraud, you will need to file a Statement of Claim on the FINRA website or in writing with the organization’s New York office. Our law firm can assist you in filling out and filing this paperwork.
Once your claim has been initiated, FINRA will determine whether a hearing will be granted based on the facts involved. If a hearing is granted, the arbitration panel will be selected and a hearing date set.
At the FINRA arbitration hearing, you and your broker will have the chance to plead your cases and present financial documents, witnesses, and other relevant evidence. Once both sides have made their arguments, the arbitrators will then review the case in further detail to determine whether your broker and/or their firm must compensate you. Either one or three independent arbitrators will hear your case, depending upon the amount of money involved and other relevant factors.
If arbitration goes in your favor, you will receive an award that must be paid to you within 30 days of the written decision. Arbitration decisions are binding, which means that they cannot be appealed by either side.
Taking Your Broker to Court for Stock Fraud
If your brokerage account agreement does not contain an arbitration clause, you may be able to sue your broker in civil court. In court, you’ll argue your case before a judge, who will decide either for you or against you. A main difference between litigation and arbitration is that court decisions can be appealed. So, if you don’t win your case, you may be able to take it to a higher court. Of course, the other party may also be able to appeal if the ruling did not go in their favor. The trial process can take much longer to resolve than arbitration, especially if decisions are appealed. The process can also be much costlier than arbitration.
Settling Investment Disputes through Mediation
Whether your broker fraud claim is headed to FINRA arbitration or to trial, you may be able to reach a settlement through mediation before arbitration or trial, even if these proceedings have already started. Mediation is when a neutral third party tries to help disputing sides reach a settlement agreement. FINRA mediation is voluntary, and both sides must agree to it. In court, judges may order parties to try and resolve their dispute through mediation before going to trial. In either case, you have the right to have your own legal counsel negotiate for you during mediation.
Reach Out to A Skilled Stock Fraud Lawyer from Wolper Law Firm, P.A.. We Are Diligent About Looking Out for the Financial Interests and Well-Being of Our Investor Clients.
Frequently Asked Questions
Our Stock Fraud Attorneys Have the Answers
We get many questions from wronged investors. Here are some of the most common. To have your individual concerns addressed, reach out to our law firm to speak one-on-one with an attorney. Call us at 800.931.8452 to schedule a free consultation.
You have up to six years from the date the fraud occurred to file a claim for arbitration with FINRA. If you miss this filing deadline, you will most likely be out of luck in getting your money back. By regularly reviewing your account statements and contacting one of our attorneys as soon as you notice significant financial losses, you stand the best chance of recovering your investment and other possible damages.
If you believe you are already close to this filing deadline, call us right away. Our attorneys are highly responsive in arranging initial case consultations; and when you become a client, you can expect personalized service. Clients can reach our attorneys seven days a week.
You are not required to hire a lawyer to represent you in FINRA arbitration. However, in most cases a lawyer will be of benefit in getting you the outcome you need. The securities market is very complex, as are the laws governing it. Experienced stock fraud lawyers know what evidence is necessary to prove misconduct to arbitrators. And remember that decisions by FINRA arbitrators cannot be appealed; this means that if the decision goes against you, you could be out a lot of money with no other options for recovery. Our astute stock fraud attorneys will develop the strongest case possible on your behalf and will aggressively take on the other side. Finally, your broker will almost certainly have legal representation, and it will put you at a disadvantage if you don’t.
We work on contingency, so we get paid a previously agreed upon percentage of your recovery when we win. Our attorneys recover money in over 95% of claims. But if for some unusual reason we are unable to get money in your case, you will not owe our law firm anything. We also provide free consultations so we can evaluate the strength of your claim. You can see that you have nothing to lose by speaking with our attorneys to learn if we can help you.
Evidence that you can gather to help with your case includes your complete account statements and your original brokerage agreement. If you have any emails, text messages or voice mails from your broker, you should save those as well. Additionally, write down any conversations you had with your broker that seemed suspicious or in which you questioned them, along with dates and times of these conversations, if possible. If other family members accompanied you to meetings with your broker or were involved in telephone calls, ask them for statements. As soon as something does not seem right with your broker and you believe you have lost money, begin making notes and gathering evidence. Then reach out to our stock fraud attorneys.
What Steps Can I Take to Prevent Stock Fraud?
There are several steps you can take to help prevent fraud in the first place or to stop your broker in their tracks if fraud is already occurring. They include:
- Checking out brokers before you entrust your money to them by visiting FINRA BrokerCheck to see if they have complaints against them
- Not being afraid to ask brokers you are considering about their licensing, qualifications, and experience
- Carefully examining your account statements on a regular basis for any suspicious activity
- Questioning your broker if you see anything unusual on your statements, which can show them you are a savvy investor and not a good target for fraud
- Not falling for investment opportunities that promise high returns with little or no risk.
If you have already been the victim of fraud, you can hold your broker accountable through FINRA arbitration or the courts. By doing so, you may get your money back and may also prevent the unscrupulous broker from taking the money of other innocent investors. Our attorneys provide free, no-obligation consultations to investors nationwide.
Speak with an Effective Broker Fraud Attorney Today. Our Business is Recovering Investment Losses for Victims of Fraud.
Take the first step toward getting your money back and holding your dishonest broker accountable by contacting Wolper Law Firm, P.A.. Our highly respected stock fraud lawyer, who has worked in the securities industry for nearly two decades, takes it personally when brokers cheat innocent people out of their retirement money and other savings. We want to help you recover your investment money and potentially other losses caused by your broker’s misconduct or negligence.
Your initial consultation is free, so you have nothing to lose by speaking to us… and potentially much to gain. Call our firm at 800.931.8452 to get help from experienced stock fraud lawyers.