Securities Arbitration Process

Alabama, Georgia, Florida

An Alternative to Court
Most unsettled disputes between brokers and investors throughout Florida, Alabama and Georgia are resolved through the arbitration process. Arbitration is an alternative procedure to traditional court lawsuits. Rather than having the judge and jury consider your case, a panel of arbitrators will pass verdict on your claim.

Arbitration Agreement
When you open your account, most brokerage firms will require you to sign an arbitration agreement. This means you'll be required arbitrate any claim even once your Florida, Alabama, or Georgia arbitration lawyer files your case in court. Be sure to read the fine print and be aware of the rights you are waiving before you sign. If you don't sign an agreement, the New York Stock Exchange (NYSE) and the National Association of Securities Dealers (NASD) allows you to choose between arbitration and court when pursuing a claim against a broker.

Arbitration Benefits
The arbitration process is faster and more informal than court. It can take anywhere from six months to a year from the date of filing to the date of completion. With less formal rules arbitration aims to prevent you from getting weighed down in procedural or technical problems. Compared to formal court litigation, arbitration generally provides a more economical, efficient, and fair method of dispute resolution.

You should contact an arbitration attorney if you have victimized by:

• Unsuitable Recommendations
• Misrepresentations or Omissions
• Churning
• Unauthorized Trading
• Breach if Fiduciary Responsibilities
• over concentration
• Mutual Fund Fraud
• Annuities Fraud

The Process
To begin the process, you must first file a statement of claim with the NASD or NYSE. Both parties are then identified-you as the claimant and your broker or brokerage firm as the respondent. Next is the discovery, where both parties request documents that are considered relevant to the controversy. Finally a hearing proceeds, where each party presents their side of the dispute to the arbitration panel.

Typically comprised of three people, the panel determines whether you should be reimbursed for your losses and if you are entitled to additional damages. Just because there is no judge and jury, does not mean the arbitration process is not any less binding-it is. Both parties often have thousands, even millions at stake.

Why hire an Arbitration Attorney?
It is typically a bad idea to represent yourself at an arbitration hearing, or to walk in with unprofessional representation. You'll find yourself at an immediate disadvantage because brokerage firms often have a team of lawyers working for them who won't hesitate to use "hardball" tactics to minimize or defeat your claim.

If you or a loved one has been victimized by stock fraud, it's in your best interest to hire our NASD arbitration attorneys at Burke, Harvey & Frankowski, to ensure the best possible outcome. Covering Florida, Alabama and Georgia, our arbitration lawyers can help you recover your losses. Call or e-mail us today for a free consultation.

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