On March 12, 2020, the Florida Office of Financial Regulation (OFR) provided guidance to Florida's securities professionals regarding the novel coronavirus disease 2019 (COVID-19). In the proclamation, Russell Wiegel, Commissioner of the OFR, authorized suspension of the filing requirements of branch office locations of dealers, issuers/dealers, and investment advisors in the areas impacted by COVID-19. It provides that where conditions require a dealer, issuer/dealer, or investment... Read More
Stock Market Fraud Attorneys Blog
Representing Investors Nationwide
It's times like this when you find out if your advisor has properly invested your money and that your account is being managed consistent with your stated goals and objectives. Please contact us if you would like a complimentary case evaluation. Thank you!
While some losses are expected, there are brokers and investment firms who purposely mislead or cheat their clients. These “white collar” crimes have significant consequences for victims, and our attorneys work aggressively to hold the responsible party liable. Keep in mind that many brokerage firms have you sign an agreement when they take you on as a client, which may legally bind you to an arbitration clause.
Some of the circumstances in which you may sue for securities... Read More
The Financial Industry Regulatory Authority (FINRA) has ordered Oppenheimer & Co. Inc. to pay more than $3.8 million in restitution to customers who incurred “potentially excessive sales charges” caused by early rollovers of unit investment trusts (UITs). The securities regulator also fined the firm $800,000 for failing to reasonably supervise the early UIT rollovers.
According to FINRA, since UITs offer investors a stake in a fixed portfolio of securities that terminates on a... Read More
Newbridge Securities Corporation, Boca Raton, Florida) and registered representative Bruce Howard Jordan were subject of an Acceptance Waiver & Consent (AWC) wherein they were censured, fined $225,000 and required to retain an independent consultant to conduct a comprehensive review... Read More
Unauthorized trading involves the sale or purchase of stocks without your expressed consent before the trade. A stockbroker must obtain prior authorization for trades he or she makes on your account unless they have discretionary or “de facto” trading authority to do so without your explicit permission, or it’s a margin account. A margin account is when the broker lends you the amount to buy stocks or other products.
Some brokers may complete a trade transaction first and then notify... Read More
A civil lawsuit becomes a class action lawsuit when there is a large group of individuals pursuing similar claims due to damage or injury caused by the defendant. Some of the recent well-known cases include the Wells Fargo class action lawsuit that settled for $575 million or the lawsuit against Monsanto Roundup Weed Killer. These claims often involve pharmaceutical companies, financial institutions, hazardous products, and other types of injury claims.
When a lawsuit is certified as... Read More
One of GPB Capital Holdings' business partners is suing the issuer of high-risk private placements, claiming the firm engaged in "serious financial misconduct" and tried to push him out after the partner complained to the Securities and Exchange Commission (SEC), according to a recent report. Since 2013, GPB has raised $1.8 billion from investors through registered representatives at independent Financial Industry Regulatory Authority (FINRA) broker-dealers. GPB's investment strategy is to... Read More
Many investors think they can avoid stock market fraud by purchasing mutual funds instead, but it’s essential to understand the reasoning behind your broker’s advice for one mutual fund over the other. Mutual funds pool monies from investors to purchase stocks and other assets including bonds. Owning a diversified mutual fund is ideal and less risky than having a stake in a single stock or multiple stocks in one industry. However, no area of investment is perfect and risk-free. Brokers,... Read More