Losing your money to a bad investment or scam can be devastating both financially and personally, but all hope isn’t necessarily lost. You have several options that you can pursue in order to recover that money, and while your specific situation may vary, the investment fraud attorneys at Meyer Wilson are here and ready to help you.
File an Arbitration Claim: If your dispute involves a brokerage firm or one of its brokers, the first option available to you is to file a formal arbitration claim through the Financial Industry Regulatory Authority (FINRA). You should always hire a qualified and experienced securities arbitration attorney to assist you in this process In our many years’ of securities arbitration experience, we believe that pursuing formal arbitration claims is the most effective route for helping investors recover the money they lost as a result of stockbroker misconduct.
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Financial Restitution Through Official Enforcement Actions: Both FINRA and the United States Securities and Exchange Commission (SEC) have the authority to pursue enforcement actions that can include, in some limited circumstances, financial restitution for investors. If the regulatory body takes action of this type and determines that investors are entitles to a portion of the recovered funds, they will either contact the investor directly or appoint a separate party to reach out and inform them before distributing the assets. While this course of action may similarly result in the broker and / or firm facing regulatory actions, it is unlikely to result in the financial compensation you expect or deserve. On top of that, you need to be careful when accepting this type of call – fraudsters commonly impersonate SEC and / or FINRA officials in an attempt to scam their targets.
Alternative Options: The SEC has the authority to distribute financial penalties to investors through the Fair Fund provisions present in the Sarbanes-Oxley Act of 2002, and the regulatory body maintains a list of cases involving Disgorgement and Fair Funds Plans. In our experience, this is not a common avenue of potential recovery for aggrieved investors.
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The Securities Investor Protection Corporation (SIPC), a non-government, non-profit membership corporation may provide limited protections to investors. Their main purpose of the organization is to ensure that an investor’s securities and cash are returned in the event that a clearing firm or a firm that sells bonds and stocks to the public becomes financially incapable of returning property to their customers. It’s important to confirm the identity of anyone claiming to be a SIPC representative – they are another popular name scammers tend to use when targeting people.
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Depending on your situation, you may be eligible to participate in a class action lawsuit to recover your losses. You can find out if a private class action lawsuit has been filed through the Securities Class Action Clearinghouse.
Hire an Attorney: In our experience, you will find the greatest success if you hire a qualified investment fraud attorney to assist you in recovering your losses. Our team at Meyer Wilson works on a contingency fee basis, and has helped approximately 1,000 clients since 1999, recovering hundreds of millions of dollars in verdicts and settlements along the way. We’ve handled all kinds of cases, and over the years we’ve successfully executed on the strategies that can help secure you the maximum possible compensation. Fill out our online form to begin your free consultation today.
Recovering Losses Caused by Investment Misconduct.