More and more, people are turning to brokerage firms to invest their money to build their savings for the future. Sadly, with an increase in investment comes an increase in investment fraud. If a broker commits fraud while handling your money, you may suffer significant losses and require the services of an experienced investment fraud attorney.
At Meyer Wilson, we have a proven history of securing significant compensation for investment fraud victims who have suffered losses. Our team of experienced investment fraud lawyers in Illinois, is ready to help you pursue damages from the liable party. Get in touch with us today to schedule your free case consultation with someone from our team.
Types of Investment Fraud Cases Handled by Our Team
In the 25+ years our firm has been representing investment fraud victims, we have seen every type of investment misconduct out there. Among the cases we most commonly handle are:
- Broker negligence
- Unauthorized trading
- Asset allocation misconduct
- Breach of fiduciary duty
- Failure to supervise
Broker Negligence
Investment brokers are required to use care when dealing with the money of their clients. They must ensure they are making investment decisions that are in their client’s best interests.
If your broker is negligent in their duty and does not handle your money in a proper manner, an experienced securities fraud attorney can assist you in filing a lawsuit to get compensation for the money you lost.
Unauthorized Trading
Before making trades with a client’s money, an investment broker must first secure authorization from the client. This authorization can come in the form of direct approval on a trade-by-trade basis or as broader approval for certain types of trades as outlined in the investment contract you sign with your broker.
If your investment broker conducts trades with your investment that fall outside the scope of their authorization, they can be held liable for any losses you suffer as a result.
Asset Allocation Misconduct
When determining how to distribute your investment between different asset classes, your financial advisor must consider your risk tolerance level. Some of the asset types into which your money can be divided include:
- Foreign currency
- Cash
- Bonds
- Real estate
- Stocks
- Natural resources
Normally, younger investors are able to take on more risk than older investors. These investors can ride the waves of the market and handle any short-term losses, as what really matters to them is long-term gains. Because of this, it might be in the best interest of younger investors to group their investments into only a few asset types.
Meanwhile, older investors need more stability and year-over-year positive gains on their investments. Because of this, a more diversified portfolio with money invested in a wide variety of asset types is going to be a better approach.
If your broker invests your money in a manner that is not in line with your risk tolerance, you can pursue compensation from them for any losses you incur.
Breach of Fiduciary Duty
Brokers are held to a high level of fiduciary responsibility due to the fact that these investment professionals are often handling the vast majority of their client’s savings. If they mishandle this money, their client can face severe losses that result in financial ruin.
Under the law, investment brokers must conduct a detailed review of any investment opportunities before suggesting them to a client. This review includes conducting due diligence, assessing the risks and rewards, providing accurate and complete information, and ensuring the investment is in line with the investment strategy they have built for the client.
Failure to Supervise
If you suffer losses caused by investment fraud, your broker is not the only one who can be held liable. The brokerage firm that employs your broker has a legal obligation to provide adequate supervision to ensure that employees of the firm are behaving in a responsible, ethical, and legal manner.
If your investment firm fails to monitor its brokers properly to ensure they are in compliance with all laws and regulations, an experienced investment fraud attorney in Chicago, IL, can help you recover damages from both the broker and the brokerage firm.
We Have Recovered Over
$350 Million for Our Clients Nationwide.
What Sets Us Apart from Other Investment Fraud Firms?
Meyer Wilson is among the leading investment fraud legal firms in the US. Our award-winning team brings more than 75 total years of experience to the table and has successfully recovered over $350 million for our clients. Some of the biggest things that help us stand apart from other investment fraud firms include:
- Our contingency fee payment system, which provides our clients with the comfort that they will not pay for legal services unless they successfully recover compensation
- The fact that we use state-of-the-art technology to boost our chances of winning and provide the best possible experience for our clients
- The fact that we maintain a small caseload, which allows us to give each client the personal attention they need to secure the best results for their case
- Our standard of preparing every case for court from the start so that we’re ready if a trial proves necessary and have additional leverage in settlement negotiations
Identifying Investment Fraud
As an investor, the cause of any losses you suffer is not always clear. While investment fraud could be to blame, other factors such as other illegal activity, natural market fluctuations, and unpredictable events can also be the cause.
To help you determine if you were the victim of investment fraud, the Securities and Exchange Commission (SEC) has compiled this checklist of investment fraud red flags, which you can review. If you notice anything that sounds familiar to your situation, it may be time for you to take legal action with the help of an experienced securities fraud lawyer.
Our lawyers are nationwide leaders in investment fraud cases.
Get Started on Your Case With an Experienced Chicago Investment Fraud Lawyer Today
After losing significant money due to investment fraud, securing the services of an experienced attorney is the best way to ensure you recover damages from the liable party. At Meyer Wilson, we have a long track record of winning favorable compensation for our clients.
Contact us by filling out our contact form or calling us to schedule your free, no-obligation case review today.
Recovering Losses Caused by Investment Misconduct.