The term Securities Fraud encompasses a wide range of deceptive practices in the stock or commodities markets many of which result in losses, in violation of securities laws. Stockbrokers and brokerage firms are obligated to follow the “Know your Customer Rule”, which requires that they be mindful of each client’s investment objectives, their disposable income, their tolerance for risk, the purpose for the invested funds, and to invest only in accordance with said objectives. However every year, millions of dollars are lost due to violations of this rule such as: unauthorized trading, stockbrokers investing in stocks and securities unauthorized by the client or where stocks were maintained at level which exceeded the risk tolerance allowed by the investment objectives set forth by the client in the brokerage agreement.
Other types of securities and stockbroker fraud typically include:
- Buying or selling securities not registered with the Securities and Exchange Commission
- Willfully making false statements or omissions of fact in documents filed with the Securities and Exchange Commission
- Engaging in interstate communications with prospective purchasers of securities, where such communications employ any device, scheme, or artifice to defraud, or contain false statements or omissions of fact calculated to mislead.
Our firm has served as lead counsel in numerous securities cases, including class actions against Fortune 500 companies as well as successfully representing dozens of victims of stockbroker fraud and unethical and improper investing. Many of our clients have suffered significant losses to their retirement and other investment accounts due to unauthorized trading by stockbrokers and brokerage firms.
Hare Wynn is proud and committed to represent clients in an effort to recover monies that have been lost or squandered away due to stockbroker fraud or improper conduct by brokerage firms. If you feel you have been the victim of securities or stockbroker fraud or if you would like to discuss a potential case, Contact us for experienced representation.