Representation Of Investors
I represent investors – individuals and institutions – who have lost money or investment opportunities as the result of negligence, breach of fiduciary duty, breach of contract, fraud or other material misconduct by investment professionals. These types of disputes are generally required to be addressed in arbitration. The work requires the expertise of highly experienced legal practitioners who know where to look to uncover negligent and unscrupulous business practices, and who understand the rules which apply to hold the firms and associated persons responsible.
Brokers and investment advisers have an obligation to recommend investments and investment strategies that are consistent with or suitable to the needs and goals of each customer.
Breach of Fiduciary Duty
Brokers and firms have a continuing fiduciary duty to investors to manage a customer’s account in accordance with the needs and objectives of the customer as stated in the authorization papers or as apparent from the customer’s investment and trading history.
Failure to Supervise
A firm’s failure to properly supervise it’s broker’s activities is an invitation to broker misconduct and other investment wrongdoing which can result in losses for investors.
FINRA rules require member firms to establish and maintain a system to reasonably supervise the activities of each registered representative. All broker-dealers, registered representatives, and individuals who trade securities or act as brokers for investors are subject to those regulations.
Misrepresentations and Omissions
If a broker has misrepresented the risks of investment or has not disclosed the risks of the investment in order to make it look more attractive, less risky, or more lucrative, their conduct may be unlawful.
When an individual broker generates commissions through excessive trading.
When an individual broker makes a trade without first obtaining permission from the client.
When an individual broker sells a client an investment that is not presently offered or overseen by the brokerage firm. In these instances, the brokerage firm may be held accountable for failure to supervise.