Securities Fraud

Alabama, Georgia, Florida, Tennessee

Securities Fraud
It is a stockbroker's duty to help you manage your investments. They hold your money--your future--in their hands, occupying a position of trust like a doctor. He or she is lawfully required to recommend only those investments best suited to meet your needs. Securities fraud takes place when your financial advisor or stockbroker abuse your trust for their gain.

Whose Profit?
Stockbrokers must conduct themselves in accordance with the New York Stock Exchange's (NYSE) Know Your Customer rule. This rule states that a broker or brokerage firm is required to gather essential information about you, analyze that information to create a profile based on your personal needs and goals, and make investment recommendations accordingly. If your stockbroker makes Unsuitable Securities Recommendations, they are in violation of this rule, and most likely made the recommendation with an eye toward their own profit, not yours.

Similarly, if your stock broker is guilty of:

• Misrepresentation and Omission of important facts about stock purchases
• Churning, or trading too frequently
• Unauthorized Trading
• Over-concentration in one or a few stocks
• Timing a trade suspiciously before or after major news breaks, no matter when you request the trade

A clever salesman can make a lot of money through Annuities Fraud by making the deal sound too good to pass up. Then you find your money tied up in the annuity, waiting for payouts to come, but needing the money now. If you try to sell, you find that all your money will be consumed in fees, taxes, and inexplicable fund expenses.

A Duty to Serve
Stockbrokers and brokerage firms have legal duties to you, their customers. If your stockbroker fails to meet the expected standard and makes a decision that hurts you, you might be able to recover your losses and even lost profits by filing a claim against the broker and/or the brokerage firm he or she is affiliated with.

If you or a loved one has suffered financial losses because of bad advice, or feel that your stockbroker or brokerage firm is engaging in questionable behavior, contact Burke, Harvey & Frankowski today. Our experienced attorneys are committed to providing strong representations for our clients. We can answer your questions and help you determine the strength of your case, and if we decide to take your case you pay only if we win your case for you. Contact us today for a free consultation.

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