Ohio Stock Broker Fraud Lawyer
Stock broker fraud, also known as securities fraud, is intentional or unintentional wrongdoing on the part of your stockbroker. The securities industry is very strictly regulated and it is your stockbroker’s responsibility to know, understand and follow the laws. If you believe that you have been the victims of stock broker fraud, pleas talk to our Ohio stock broker fraud lawyer right away.
Examples of Stock Broker Fraud
Stock broker fraud includes intentional deceit to cheat you out of money, but it can also include unintentional negligence or wrongdoing on the part of your stock broker. Examples include:
- Unsuitable investments
- Failure to diversify
- Breach of fiduciary duty
- Mismanagement of accounts
- Insider trading
- Microcap fraud
- Ponzi schemes
Auction Rate Securities Fraud
Auction rate securities, or ARS, are debt instruments marketed by brokerage firms as an alternative to money market funds. These instruments are sold through what is known as a “Dutch auction.” Instead of starting the bidding low and then selling to the highest bidder, an ARS is the opposite and starts higher and is lowered until a purchase is found. In February 2008, the ARS market collapsed and many buyers have not been able to convert their ARS back to cash. A knowledgeable auction rate security lawyer can help you hold investment companies responsible for their misleading actions. If you lost money on auction rate securities due to fraud, contact our ARS attorneys today to talk about your legal options and rights.
Detecting Stock Broker Fraud
Investing in the stock market is a gamble, and losing money does not always mean that you have been the victim of fraud. It may be difficult for you to tell if your stock broker is cheating you or acting illegally. An experienced stock broker fraud lawyer knows how to recognize the signs.
If you have lost money, are losing money, or have noticed suspicious activity, talk to our stock broker fraud lawyer right away. You can read more about your rights in this Fraud Victim Guide from the National Justice Criminal Reference Service.
If you have been the victim of stock broker fraud in Ohio, please call a stock broker fraud lawyer of The Thompson Law Firm at 1-614-461-9000 or toll free 1-800-461-9013 or submit an online questionnaire. The initial consultation is free of charge, and if we agree to handle your case, we will work on a contingency fee basis, which means we get paid for our services only if there is a monetary recovery of funds. In many cases, a lawsuit must be filed before an applicable expiration date, known as a statute of limitations. Please call right away to ensure that you do not waive your right to possible compensation.