Securities Fraud Legal Questions

yes. however, the 'devil is in the details'. i would have to review the contract you signed with the broker and your history of stock trading. i have had many FINRA cases and your 'contractual relationship' with the broker and your history of trading are both crucial factors. please call to discuss. Ed Dimon, Esq. 732-797-1600... Read Answer

you should be able to see if the broker's license has been taken away by FINRA and NJ. she should also be able to determine if the person filed for bankruptcy. we can help you with these findings if you have difficulty. we can then advise you as to possible future steps to both prosecute these fraudulent activities and possibly have your lost investments returned. NJ Securities has been aggressive in this area. ed dimon, esq. 732-797-1600 ext 235          ... Read Answer

Whether or not you have any grounds to successfully sue National Securities or your broker is a question that can only be answered by doing a thorough review of the circumstances relating to you, your financial status , your financial objectives and the transactions in your account(s) and how they occurred. From the limited facts you have provided, I could only say that you may have a case and getting an informed opinion from a securities lawyer is worth doing. Some red flags that may indicate broker misconduct include:1)the broker made trades in your account without your permission or without first getting your written consent giving him "discretionary authority" to trade on your behalf; 2)The broker failed to accurately advise you of the risks that accompanied the trading; and 3) the trading was excessive in light of your investment objectives and occured principally to generate commissions and/or margin interest. A key question is how were the "bad decisions" made? Were you part of the decision-making process or just a bystander who was frequently assured that everything was going well and not to worry. If the former, then you will have a more difficult time proving liability. William A. Healy... Read Answer

the U5 is crucial to one's employment and future. the language in the U5 must be carefully negotiated. one can have the U5 revised if there is a blatant error. please let me know if we can help with either the negotiation or the revision. we have done both successfully. ed dimon, esq. 732-797-1600 ext 235... Read Answer

Fees imposed by a financial firm to its clients should be disclosed prominently. ING may not have done so and could be liable depending on the relevant facts. When you opened the account what were you told, if anything, about its fees? Were the fees deducted on your monthly/quarterly statements? What was your expectation of how ING was to be compensated? To properly evaluate your legal options you would need to provide much additional information about what ING told you about the operation of its retirement services account and how its operation differed from what you were told. More information is also needed on the other issues you raised. William A. Healy, Westminster, MD.... Read Answer

Whether you can successfully sue Raymond James or anyone else depends on a more detailed examination of the facts and circumstances relating to you, your account and the conversations you had with your financial advisor. From your question, it is clear that your financial advisor may not have followed your instructions to sell securities' positions and put the proceeds into cash-and thereby incurred liability for your substantial losses. However, it is premature for me to say that you have a good case against Raymond James or the financial advisor. At a minimum, you should speak with an experienced securities lawyer to determine your legal options. I have been handling these types of cases for more than 20 years. You may call me at 410-875-5316 for a free consultation.... Read Answer

Yes, you should certainly consult with an attorney who specializes in securities law. It appears that your financial advisor may have engaged in "selling away." Selling away occurs when a financial advisor engages in selling investments to others without the knowledge of his employer. On a an annual basis financial advsors have to provide their employers with information pertaining to any outside business interests they want to be engaged in. The employer has to approve the financial advisor's participation in the outside business before he/she can engage in it. Unfortunately, some financial advisors, for a variety of reasons, try to do other investment business without their employer's knowledge and supervision. If you have sustained losses from this type of actvity you may be able to recover them from the employer as well as the financial advisor. The fact that the employer in your case is conducting an investigation suggests that it was unaware of the financial advisor's outside investment activities. I am a securities lawyer practicing in Maryland and would be willing to give you a free consultation about this problem. You can call me at 410-875-5316.... Read Answer

The short answer to your question is that you have to provide many more details concerning your purchase of the preferred stock before any reliable response can be given. Why and from whom  did you buy the stock? Were any misrepresentations made to you by the individual/entity who recommended your purchase of the shares? Is this a publicly traded company? You can provide more details or contact my office for more of a complete response.... Read Answer

I am an AV rated (the highest rating available) lawyer in New York CIty. I spent 30 years on Wall Street doing corporate finance. Then I won over $500 million in Private Equity commitments to launch an insurance business, and now I am a litigator which was my first love. I am very interested in talking to you on a no fee unless success basis. Please e mail me your contact details and advise best day and time to call. Thanks very much.        ... Read Answer

This sounds like a scam to me. In order to confirm that, you may want to contact the CBOE and your state securities regulator. Tell them how you were contacted and your involvement with this entity. Also ask them if this entity is registered as an options or securities dealer. These regulators can tell you how to proceed with a formal complaint , if necessary. I certainly would not give this dealer any money unless you can establish that it is a legitimate business. My answer does not constitute legal advice but only general information for your consideration. Good luck.... Read Answer