Find A Securities Fraud Attorney
Securities fraud lawyers and Financial Attorneys help consumers who fall victim to investment securities and stock fraud. If you are a victim of stockbroker misconduct contact a securities fraud attorney to discuss the details of your case.
If you have suffered losses due to Securities Fraud, please contact a securities fraud attorney or financial lawyer qualified in this area of law to review your case, often at no cost. Some securities fraud attorneys will take a fee only when the case is settled.
Investors who have suffered losses due to misconduct by brokers, financial advisers or consultants are entitled to pursue their claims in court. If you gave an expert money which was fraudulently invested through either misrepresentation or an unauthorized purchase and your portfolio plummeted as a result, your securities fraud lawyer or financial attorney may indicate you have an actionable case.
Don't let someone you trusted rob you of your hard earned savings. Talk with a securities fraud attorney who has experience in this area of litigation.
Time is of the essence. If you think that you may have been defrauded you need to consult with a securities fraud lawyer as soon as possible. Securities fraud cases have deadlines referred to as "statutes of limitations" which must be met. Each state may have a different statute of limitations which applies. Speak with a financial attorney or securities fraud lawyer to learn the law in your area.
As a general rule, securities fraud lawsuits must be filed within one year of the date the crime occurred. However, the time limit can vary depending on the circumstance. Only knowledgeable securities fraud attorneys can advise you if you have a case and what your deadlines are.
Often investors will not know they have been defrauded until after they consult with a securities fraud attorney or financial lawyer. That is because brokers, bankers and financial advisers may find it to their best advantage to keep this information hidden from you.
The National Center for Employee Ownership claims that about 25 million Americans own stock in the company they work for. Additionally, about half the county (around 57 million households) own some type of stock whether it is in mutual funds, 401-Ks, IRAs or a specific stock.
Examples of Securities Fraud:
- Broker provides false information on a company financial statement.
- Broker provides false information on the Securities and Exchange. Commission (SEC) filings.
- Broker engages in insider trading.
- Broker engages in stock manipulation schemes.
- Broker embezzles funds.
Signs that you might be a victim of Securities Fraud:
- Transactions or commissions on your statement that you do not recognize.
- Pressure sales tactics or clear misrepresentation of the facts by your broker.
- Loss of principal in a supposedly safe and conservative account.
- Confusing explanations from your broker on his investment choices.
- Dramatic drop in the value of your investment portfolio in a short period of time.
- A restatement of earnings by a company you’ve invested in.
- Inconsistencies in a company’s annual report.
- The merger of two companies at a price that is unfair to the shareholders of one of the companies.
The following are examples of recently settled securities lawsuits:
- $6.2 billion: Settlement of a class action led by the New York State Common Retirement Fund in the wake of WorldCom’s collapse. Among the 17 financial institutions forced to pay out under this 2005 ruling were: Citigroup, JPMorgan and Chase & Co. The banks – which all denied liability – were accused of pushing WorldCom bonds after they allegedly knew the company's financial condition had deteriorated.
- $7.2 billion: Settlement of a class action awarded to Enron shareholders after the energy company folded like a deck of cards when accounting fraud was discovered on its books. The money was paid out by several Wall Street Banks as well as the company auditors after they were found to have aided and abetted in the company’s fraud.
- $3-billion: Class action settlement paid to the investors of Tyco International Ltd after the company was found guilty of massive accounting fraud that took place under former Chief Executive Dennis Kozlowski. The suit accused Tyco of inflating its profit by $5.8 billion from 1999 to 2002. The trial became a showcase of corporate misbehavior when details of Kozlowski’s opulent spending -- such as the $6,000 shower curtain and the $15,000 umbrella stand – were revealed.
- $1.6 billion: Settlement announced by the Securities and Exchange Commission (SEC) in 2006, after charges that American International Group, Inc. (AIG) committed securities fraud. The settlement was part of a federal and state action in which AIG was penalized for improper accounting, bid rigging and fraudulent practices involving workers’ compensation funds.
- $474 million: A 2005 class action settlement following the Dynegy Inc. securities fraud suit. Dynegy investors suffered losses after it was disclosed that the company had misrepresented its finances. Several former Dynegy employees were convicted of criminal fraud in connection with the case. The University of California became the lead plaintiff following its purchase of 4.16 million shares of Dynegy stock between Nov. 2, 2000, and May 7, 2002.
- $160-million: Settlement of a class action lawsuit against Brocade Communications Systems, Inc. a California technology firm, after it was found to have backdated its stock options. The chief plaintiff in the case was the Arkansas Public Employees Retirement System (APERS) – which, in 2005, won back almost all its original investment.