Investment fraud steals millions of dollars from unsuspecting investors every year. Scammers and hackers use fraud, deceit, and coercion to convince investors to give them money, then steal it outright or otherwise use it unsuitably. Investors are often unaware of misconduct until they lose a substantial amount. A Michigan investment loss recovery attorney can help you pursue damages.
At Meyer Wilson, we are passionate about protecting investors. We can go up against any defendant, big or small, in pursuit of fair compensation on a client’s behalf. Our Michigan investment fraud lawyers will use every tool at our disposal to ensure you recover damage. If you believe you have a claim, please contact us right away for a free and confidential case consultation.
How an Experienced Investment Loss Lawyer Serving Michigan Can Help You Recover Compensation
If you retain the services of an experienced investment loss recovery lawyer, you can immediately benefit from a wealth of knowledge and experience in this practice area. Your lawyer can answer any questions or concerns you may have about your unique case, as well as guide you through the process of filing a claim before Michigan’s deadline.
You can concentrate on moving forward while your attorney handles every aspect of your legal case. Your attorney will investigate how you lost your investment and collect evidence proving the fault of your investment advisor or brokerage firm.
They will then prepare your case for arbitration or for court. All the while, they will be in talks with opposing counsel, attempting to negotiate a settlement deal that will get you the money you need quickly so you can move on with your life.
What Sets Our Firm Apart From Our Competitors?
At Meyer Wilson, our award-winning team brings more than 75 years of combined experience to the table. We use our accumulated knowledge to get our clients the money they need and deserve from those liable for your damages. Some of the ways in which we stand out from other investment fraud law firms include that:
- We have recovered more than $350 million for our clients.
- Our firm has been helping investment loss recovery victims for over 20 years.
- Our lawyers are committed to being transparent and responsive to all our clients.
- Our lawyers take cases on a contingency fee basis, meaning our clients don’t have to pay for our services unless we recover compensation on their behalf.
- We keep our caseload manageable to ensure that all our clients and cases get the attention they need.
- From day one, we handle every case as though it is going to trial, which gives us leverage in settlement negotiations and ensures that we are prepared if a trial proves necessary.
- We use state-of-the-art technology throughout our firm.
Common Types of Investment Fraud
Investment fraud can refer to any action or failure to act by a financial advisor or stockbroker with the intent to defraud the investor. Fraud can lead to profits for the advisor or broker while the investor loses money. The possible types of investment fraud schemes are almost endless, but we see certain types of scams more often than others at our investor claim law firm in Michigan.
Among the cases we most commonly handle are:
- Misrepresentation of facts
- Stockbroker or financial advisor misconduct
- Unsuitable investment recommendations
- Account churning
- Failure to diversify
- Forged account statements or financial documents
- Front running
- Insider trading
- Margin abuse
- Ponzi schemes
- Theft of funds
To prove the existence of certain types of investment fraud, your lawyer will need to establish through a preponderance of evidence that the advisor breached a duty of care owed to you, caused your damages, and that you suffered economic losses because of the breach.
Proving the breach of the standard of care is an important element of proof in these cases that an experienced Michigan investment loss recovery attorney may be able to help you establish before a judge and jury.
File Your Lawsuit Before the Deadline
When attempting to recover compensation by suing your financial advisor or brokerage firm in a court case, it is critical that you pay attention to your state’s statute of limitations for investment loss recovery cases. In Michigan, those who have suffered investment fraud typically may have as little as two years from the date of discovery to file a lawsuit against the liable party, if the claim is filed in court.
However, exceptions apply in some cases that can alter the amount of time you have to file your claim. Depending on the specifics of your case, this could mean shifting the filing deadline in either direction.
An experienced investment loss attorney serving Michigan can help you determine the exact deadline for your case and ensure that all the required paperwork gets filed correctly and on time.
Can You Recover Losses?
Recovering losses often requires filing a civil claim against the individual or entity responsible for defrauding you. Michigan’s civil justice system allows investment fraud victims to bring civil lawsuits demanding compensation for their losses. The financial advisor, stockbroker, or corporation could be legally responsible for the fraud scheme that stole your money.
If so, the defendant could owe you a financial recovery. Some of the damages most commonly recovered in these cases include:
- Lost investment funds
- Lost past and future earnings
- Interest and penalty payments
- Emotional pain and suffering
- Mental anguish or trauma
- Legal fees
- Punitive damages
The amount of money you could recover through a civil investment fraud claim depends on how much money you lost, as well as several other factors unique to your case. If your attorney can prove that the liable party intentionally defrauded you or that your losses were caused by criminal negligence, they may award you punitive damages to punish the liable party.
The Majority of Investment Loss Recovery Cases Are Resolved Through FINRA Arbitration
When pursuing damages in an investment loss recovery case, you should know that the majority of these cases don’t end up going to trial. Instead, they are resolved through FINRA arbitration, which has its own timeframe for filing cases. When you sign an investment contract with an investment advisor or brokerage firm, there will likely be language in the contract regarding how any disputes will be resolved through arbitration.
The Financial Industry Regulatory Authority (FINRA) is a not-for-profit organization authorized by the federal government to hold stockbrokers and investment firms accountable for illegal or unethical activity. Brokerage firms owe a fiduciary duty to their clients. FINRA aims to ensure that this duty is upheld and to provide a fair marketplace for investors.
By resolving a dispute through FINRA arbitration, you will be able to recover compensation more quickly than would be possible through a courtroom trial. For investment firms, the main appeal of using this form of alternative dispute resolution is that the proceedings are private. FINRA arbitration rulings are legally binding and typically can not be appealed, except under rare circumstances.
Contact Us to Recover Losses From Investment Fraud in Michigan
If any type of investment fraud scheme or stockbroker misconduct caused you or a loved one an economic injury in Michigan, do not hesitate to contact a lawyer from Meyer Wilson to discuss your legal options. Our experienced team of investment loss recovery lawyers will leave no stone unturned in our pursuit of recovering damages on your behalf.
Contact us today by giving us a call or filling out our online contact form and set up a free case review with a member of our legal staff.