The law firm of Epperly & Follis, P.C. concentrates in cases against major defendants, including corporations and brokerage firms. Most stockbrokers are honest individuals who follow the rules of the securities industry, but unfortunately, there are some unethical and dishonest brokers.
If you have invested in securities (stocks, bonds, options, limited partnerships, mutual funds, certain commodities, etc.) and you have experienced problems with your investments or your stockbroker, you may be the victim of securities fraud. Securities Fraud involves deceptive actions and schemes that are carried out to cheat or take advantage of investors. At Epperly & Follis, P.C., our attorneys are familiar with the financial damage that investor fraud can cause. You must know your rights so that you have the opportunity to recover your losses from your stockbroker or brokerage firm.
Most victims of securities fraud do not even realize that they have been defrauded until they have already suffered financial losses. Fortunately, even after losses have occurred, the law still provides a mechanism for investors to recover their losses which were caused by a stockbroker’s abuse of the account. Investors may be entitled to compensation for the loss of income that their investments should have been generating, interest on losses and legal fees.
There are several ways in which an investor can be defrauded:
As an investor, you should be proactive, and always be aware of the actions your broker is taking when managing your account. There are several warning signs of fraud that you should look out for:
If you think that you may have been defrauded, you should take immediate action to protect yourself and your investments. First, stop all trading with your broker until your concerns are resolved. Second, write a letter of complaint to your broker and his supervisor, or request a meeting with the brokerage firm manager. Finally, consult with a qualified attorney and have the account documents reviewed to determine whether you have been the victim of securities fraud. Epperly & Follis, P.C will outline the documentation required, the decisions that must be made, and will continue to guide you through the legal process.
Epperly & Follis, P.C lawyers know the law and victims’ rights. We can help you make informed decisions regarding your situation. Our legal professionals do not approach our cases as mere jobs, but as causes in which larger issues are at stake – causes in which the firm’s lawyers invest personal dedication to see that justice is done. If you or someone you love has been a victim of securities fraud, please call the investment fraud law firm at Epperly & Follis, P.C. in Richmond, Virginia at 1-888-703-0109 or (804) 648-6480, or contact us via our online Contact Form.
Investment brokers may commit fraud in an effort to control the market or lure more business in. The following activities are considered investment fraud when done intentionally:
When a corporation deliberately conceals information to appear healthy and successful before its shareholders, it has committed corporate or shareholder fraud. Corporate fraud may involve a few individuals or many, depending on the extent to which employees are informed of their company’s financial practices. Fraud committed by corporations can be devastating, not only for outside investors who have made share purchases based on false information but for employees who, through 401ks, have invested their retirement savings in company stock.
Most attorneys are hired on a contingency-fee basis, which means that the attorney recovers fees only if you recover a judgment in the case. The fees that they recover are usually a percentage of your award.
Investors may be awarded out-of-pocket losses, reasonable attorney fees, interest on the losses, and punitive damages. The exact amount that you recover varies in each case.
The National Association of Securities Dealers (NASD) and various state securities divisions offer a formal complaint process to investors, with the filing of a complaint triggering an investigation of the broker. If the investigation proves that the broker has engaged in any unlawful practice, the broker will be subject to formal disciplinary action.
Disputes between investors and their brokers are generally subject to the arbitration process because most brokerage firms use an arbitration agreement when you sign up for their services. Don’t let this prevent you from contacting an attorney or thinking you can’t file a lawsuit because this is not always the case.
Suspicious activity on the part of a broker may include:
If you believe you have been defrauded, contact Epperly & Follis, P.C. today.
Brokers provide financial background of a company, the rate of commission, and other important facts that a client should know before they buy or sell stock.
The broker will earn his income based on a commission.
If a person buys or sells stock in a publicly traded company based on non-public information that they have about that company, it is considered “insider trading” and is illegal.
Securities Law involves the rules and regulations that regulate the issuance and the sales of securities. The Securities Act of 1933 and the Securities Exchange Act of 1934 are major aspects of this type of law. Securities Fraud occurs when an individual or entity attempt to illegally manipulate the investment market. Securities fraud may be committed by brokers, financial advisers, corporations, and private investors.
The crime of false pretenses is to misrepresent facts, or use outright lies, to gain another person’s money or property…
We all remember Bernard L…
The Federal Trade Commission (FTC) receives millions of calls, letters or emails telling the commission about fraud or identity theft…
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We know the law, we know victims’ rights, and we want to help you make informed decisions about your personal injury case. Please contact Epperly & Follis, P.C today for a free legal consultation.
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