Do You Have Stock Market Losses?
If so, your brokerage firm and broker may owe you money. There is legal recourse for those who suffered stock losses as a result of unsuitable financial investments, misrepresentations or omissions, churning, unauthorized trading, analyst conflicts of interest, margin abuse or fraud.
Although we help most anyone who suffered losses due to broker misconduct, we are particularly interested in helping senior citizens who lost money in technology, communication and high tech stocks or through broker misconduct. The following are some of the ways you may have lost money due to brokerage firm or broker misconduct:
- Unsuitable Financial Investments: Brokers have a duty to insure that your investment meet your objectives and risk tolerance. If you have indicated to your broker that you want to invest in conservative instruments and he/she urges you to buy a risky stock or bond -- that investment is unsuitable.
- Misrepresentations or Omissions: This occurs when a broker intentionally or recklessly misleads an investor or fails to disclose material facts concerning an investment.
- Churning: This occurs when a broker excessively trades in your account to increase his or her commission fees.
- Unauthorized Trading: If you have not given the broker authority to make a trade and he or she makes an investment on your behalf, the broker has made an unauthorized trade.
- Analyst Conflict of Interest: Many brokerage firms inappropriately used their in-house analysts to publicly hype stocks which the analysts knew were losers. Brokers unwittingly relied on these analyst's recommendations to convince you to buy these investments.
- Margin Abuse: Purchasing investments on margin (borrowing money so you can make additional/larger purchases) is generally for the sophisticated investor who knows the risks involved. Often, brokers recommend margin trading to inexperienced investors who neither understand the risk nor can afford the losses.
- Fraud: This occurs when your brokerage firm or broker uses any manipulative, deceptive, or other fraudulent device or other means to induce you to purchase or sell any security.
If feel you lost money in the stock market due to wrongdoing by your brokerage firm or broker, contact us immediately. We will aggressively pursue recovery of your losses.
Time is critical, since state laws and arbitration rules limit the time in which you have to file a claim. Contact us today to protect your rights. Stolee and Associates will evaluate your stock loss claim free of charge. You will not pay any attorney fees or costs unless we recover money for you.
Stolee and Associates is licensed to practice in Pennsylvania and New Jersey, although we help stock loss victims nationally, with the help of our network of law firms in other jurisdictions.