You can report a pump and dump scheme by submitting a tip to the Securities and Exchange Commission (SEC) but you should contact an experienced securities fraud attorney before communicating with any securities regulator. If you’ve lost money due to a pump and dump scheme, you’ll want to hire a skilled pump and dump lawyer to help you.
An attorney can assist you with reporting the scam and guide you through the legal process. If your claim is successful, you could receive a handful of helpful financial remedies. Let’s take a closer look at how to report a pump and dump scam and how an attorney can help you seek damages.
How You Can Report a Pump and Dump Scheme to the SEC
The SEC is an independent arm of the federal government that enforces securities law and combats market manipulation. If you have knowledge of a violation of securities laws, such as a pump and dump scheme, you can report the matter to the SEC, and the commission may choose, at their discretion, to conduct an investigation into the offense.
You can report a pump and dump scheme by submitting a tip through the SEC’s online Tips, Complaints & Referrals (TCR) form. This online form allows you to submit information in confidentiality, so you don’t have to worry about retaliation. Contact a securities lawyer before submitting a claim.
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Information to Include in a Pump and Dump Scheme Report
When reporting a pump and dump scheme to the SEC, you’ll want to include several important pieces of information. Including all the necessary information will help the SEC investigate the offense and take effective action against the fraudsters involved.
Include the following information in your report to make it as comprehensive as possible:
- Your name, mail, and email addresses, telephone number
- Contact information for the parties mentioned in your tip
- A detailed description of the pump and dump scheme
- Documentation of the scam
While including your name and contact information in the tip can be helpful to the commission, doing so isn’t necessary. If you wish to submit the tip confidentially, you can choose to remain anonymous.
Filing a thorough report may be difficult, especially if you have a great deal of information and documentation to provide. Fortunately, a skilled attorney can help you submit a report and pursue compensation for any losses you’ve incurred due to the scheme.
How a Lawyer Can Help You After a Pump and Dump Scheme
Moving forward after a pump and dump scam can be a difficult process. Filing a report with the SEC and pursuing compensation for the losses you’ve incurred requires a great deal of time, effort, and legal knowledge. Luckily, an experienced investment fraud lawyer can guide you through this process and help you pursue a favorable outcome.
An attorney can investigate the securities law violation you’ve been affected by, help you notify the SEC, and seek the damages you’re owed. Here’s what a lawyer can do to help you make a full recovery:
- Gather financial records, witness testimonies, and other forms of evidence
- Use evidence to construct a compelling claim on your behalf
- Determine how much compensation you should receive from a claim
- Help you report the pump and dump scheme to the SEC
- Represent you during the arbitration process
- Fight for the compensation you need to move forward
- Answer any questions you have throughout the process
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Understanding the FINRA Arbitration Process
Once you’ve reported the pump and dump scheme to the SEC, your attorney will likely advise you to file an arbitration claim. Arbitration claims are handled by the Financial Industry Regulatory Authority (FINRA).
During arbitration, you and the other party involved in the dispute will present your respective sides of the case to a panel of arbitrators. The panel, which usually consists of one to three arbitrators, will make a final decision on the matter based on the information both parties provide.
If your claim is successful, you could receive the following remedies:
- Reimbursement for the losses you incurred due to the pump and dump scheme
- A percentage of the money that fraudsters made through the scam
- Attorney’s fees
These remedies can help you replace your investment losses and give you the confidence you need to move forward with future investments. That said, obtaining these damages can be difficult without the help of a skilled lawyer. Reach out to an attorney today to get the justice and compensation you deserve.
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At Meyer Wilson, we have over 75 years of combined experience handling pump and dump claims like yours. We’ve recovered over $350 million for victims of pump and dump scams, Ponzi schemes, and many other forms of investment fraud, so you can rest assured we have what it takes to make your claim as successful as possible.
Contact our firm today to schedule a free consultation with a trusted investment fraud attorney from our firm. We’ll meet with you to discuss your case, advise you on how to report a pump and dump scheme, and answer any questions you may have about the FINRA arbitration process.
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