The securities arbitration lawyers at Colling Gilbert Wright & Carter are pleased to announce an award on behalf of their client against SII Investments, Inc. in the amount of $19,634.34 plus interest and arbitration fees. The complaint was filed with The Financial Industry Regulatory Authority (FINRA) and alleged unsuitability; misrepresentations and omissions; violation of NASD/FINRA conduct rules; breach of contract; negligence; breach of fiduciary duty; failure of supervision; and... Read More
Stock Market Fraud Attorneys Blog
Representing Investors Nationwide
Stock broker fraud can be devastating to your finances and can leave you feeling betrayed and unsure of what to do next. Stock broker fraud, also known as investment fraud, occurs when stock brokers mismanage your funds or make financial decisions that benefit the broker more than they benefit the client. Any actions that are taken by the stock broker that benefit the broker most, are harmful to the client, are unapproved or excessive, can be considered stock broker fraud. These types of... Read More
Cry me a river. The insurance industry doesn't want the new Department of Labor (DOL) fiduciary rule because they would actually have to put the clients' interest ahead of their own when making recommendations. Sad that the DOL and other consumer advocates had to push for a rule requiring the financial services industry to behave in a manner that seems so obvious. Now they are suing to stop the fiduciary rule implementation. No shame.
Here is an excert from a recent article on the... Read More
Though sometimes hard to detect, any stockbrokers that are intentionally misleading investors in a negative way are committing fraud. Stock market fraud can be devastating financially and emotionally and can leave victims feeling helpless. Stock market fraud is particularly frustrating because it has major financial impacts on individuals and sometimes corporations.
Here at Colling, Gilbert, Wright & Carter, we offer many stock market fraud services to help you investigate and... Read More
The securities arbitration lawyers at Colling Gilbert Wright & Carter are pleased to announce an award on behalf of their client against Well Fargo Advisors, LLC. in the amount of $66,000.00 plus arbitration fees. The complaint was filed with The Financial Industry Regulatory Authority (FINRA) and involved a recommended over concentration in the Oppenheimer Rochester Pennsylvania Municipal Fund Class C ("The Fund"). The Claimant asserted the following causes of action: unsuitability,... Read More
You depend on your stockbroker for vital information about your investments. If your broker does not live up to a fair level of honesty and full disclosure, it may be considered misrepresentation or omission. Any false or intentionally misleading statement made by a stockbroker designed to influence or manipulate a client is a violation of law, as is the intentional withholding of information for the same purpose.
Misrepresentation and omission can take on many different forms.... Read More
The Securities and Exchange Commission (SEC) is preparing a civil enforcement case against Merrill Lynch over investments that lost as much as 95% in value and was marketed in a way that one of the firm’s financial advisers called “borderline crooked."
The expected case against the brokerage arm of Bank of America (BOA) focuses on the risks of so-called structured notes which are securities custom-built by banks and brokerages out of options as well as other... Read More
One of the most common claims our stockbroker fraud attorneys handle are those that deal with the act of excessive trading. Excessive trading, also known as churning, occurs when unethical brokers who earn profits from each trade they make decide to make large numbers of stock trades on behalf of their clients simply to rack up fees, disregarding the consequences for their client.
Excessive trading probably seems pretty simple, but it can actually be hard to know if a broker is... Read More
Today, the Financial Industry Regulatory Authority (FINRA) announced it has fined Oppenheimer & Co. Inc. $2.25 million and ordered the firm to pay restitution of more than $700,000.00 to retail clients that lost money on the purchases of leveraged, inverse and inverse-leveraged exchange-traded funds (non-traditional ETFs). FINRA alleged the sales were done without reasonable supervision and that the non-traditional ETFs that were not suitable for those customers.
In August 2009,... Read More
On June 1, nine industry and trade groups filed a lawsuit in Texas federal court challenging the Department of Labor’s (DOL) fiduciary rule, saying the department overstepped its authority in making the rule and that the new regulations will harm retirement savers. The U.S. Chamber of Commerce, the Securities Industry and Financial Markets Association (SIFMA), the Financial Services Institute and five other national and local business groups filed the lawsuit, seeking an injunction to halt... Read More