At Meyer Wilson, a number of our potential clients ask us the same question: If I lost money years ago, can I still file a claim to recover losses? While every case is different and there are numerous factors to consider in determining how long you have until you must file a claim. Based on FINRA arbitration regulations, you may have up to six years after the occurrence in order to file a claim.
If you have been the victim of broker misconduct and you lost money, it is important to reach out to legal representation in order to discuss your options. FINRA arbitration is often the forum in which you will have to resolve your dispute with your broker or financial advisor if you lost money due to bad advice or schemes.
To keep things simple, if your transaction occurred on January 1, 2010, you would have until January 1, 2016 to take legal action. Some factors may extend this deadline, but this is the general timeline of which to be aware.
Oftentimes, investors don’t realize until years in the future that they lost money on an investment. This may be due to a breach of fiduciary duty or a broker not informing the investor of what is actually happening. It is for this reason that the deadline to file a claim is years after the incident.
Our team of securities attorneys has helped countless investors understand their strongest course of legal action based on how long it has been since they lost money. We sit with you and give you the information you need to make educated decisions moving forward. Our goal is to help you recover your losses even if it has been several years since you lost your money. Contact us today for your free case evaluation.