When people invest their money with a brokerage firm, the expectation is that the broker will use their experience and knowledge of financial markets to grow the investment and help protect the investor’s financial future. Unfortunately, investment fraud can result in significant financial losses.
At Meyer Wilson, we have helped countless investment fraud victims recover the compensation they need. Our team of investment fraud lawyers in New Orleans, LA, is ready to help you hold the liable party accountable. Reach out to us today by phone or through this site to schedule a free case review with a member of our legal team.
Investment Misconduct Comes in Many Forms
We have handled a variety of different investment fraud cases at our firm over the years. Some of the most common investment fraud cases include:
- Unauthorized trading
- Breach of fiduciary duty
- Asset allocation misconduct
- Broker negligence
- Failure to supervise
An investment contract with a broker outlines the moves they can take with your money. While the details of your contract may give your broker leeway to make trades without express approval under certain circumstances, there will likely be limitations regarding when and how they can move your money.
If your broker makes trades they don’t have the authority to make on their own, an experienced securities fraud attorney can help you pursue compensation.
Breach of Fiduciary Duty
People often entrust significant amounts of their money to stockbrokers and financial advisors. They expect their money to be handled appropriately, and the financial professional will help them grow their savings.
Because of the significant power investment advisors have regarding the financial well-being of their clients, the law places a high level of fiduciary responsibility upon these individuals. Brokers are legally obligated to carefully analyze any investment opportunities before recommending them to a client, including a thorough review of the potential risks and rewards.
If your broker fails to create an appropriate investment strategy for your needs, omits or represents relevant details about an investment, or doesn’t perform due diligence, you have the right to file a lawsuit to recover damages.
Asset Allocation Misconduct
It is vital that your broker takes your risk tolerance into account when determining how to divide your money between different asset types, including:
- Real estate
- Natural resources
- Foreign currency
Generally speaking, younger investors can tolerate more risk. Because of that, concentrating your investment among asset types with a higher long-term rate of return may be the better option. While this can mean losses in the short-term at times, because the market tends to balance overtime on an upward trajectory, you should be able to weather temporary volatility.
Older investors, on the other hand, tend to be more risk-averse. These investors need more diversity among different asset classes to ensure stability in their year-over-year returns.
If your financial advisor invests your money among asset types in a manner that is not appropriate for your situation, you may have grounds to file a lawsuit.
It’s critical that brokers take great care with how they invest their clients’ money. If your broker was negligent and didn’t put in the work to ensure they were soundly investing your money, you could have grounds for filing a lawsuit against them.
Failure to Supervise
In addition to the broker who directly mismanaged your investment, the brokerage firm that employs them could also be held liable for any losses you suffer as a result of the misconduct of its employee. These firms have a legal duty to ensure that their employees are working legally, ethically, and responsibly.
If the brokerage firm where your money is invested fails in its duty to supervise, you can file a lawsuit against the firm and the broker with the help of an experienced investment fraud attorney in New Orleans, LA.
Reason to Choose Our Investment Fraud Legal Firm
Meyer Wilson is one of the leading investment fraud law firms in the country. Our award-winning team of lawyers has over 75 years of combined experience handling investment fraud cases, and we have successfully recovered more than $350 million on behalf of our clients. Some of the things that set us apart from the competition include that we:
- Take cases on a contingency fee basis, which means that our clients don’t pay us unless we recover compensation on their behalf
- Are selective in choosing cases to keep our caseload manageable and ensure all of our clients get the detailed attention they deserve
- Prepare each case for trial from the start so we are ready if going to court proves necessary and have more leverage during settlement negotiations
- Use state-of-the-art technology to improve the whole experience for our clients
Identifying Investment Fraud
If you sustained significant losses in the money you invested with a broker, you may wonder if foul play was to blame. Identifying fraud can be challenging as it is only one of many possible explanations for investment losses. Fraud, mismanaged funds, other illegal activity, unpredictable events, and natural fluctuations in the market can all play a role.
You can use this checklist of investment fraud red flags provided by the United States Securities and Exchange Commission to see if you notice any similarities to your situation. If fraud seems likely, you should reach out to an experienced securities fraud lawyer for help.
Get Help from an Experienced Investment Fraud Attorney Serving New Orleans Today
If you were the victim of investment fraud, working with a lawyer familiar with these kinds of cases can significantly improve your chances of recovering the compensation you need and deserve. At Meyer Wilson, we have a proven track record of winning big for our clients.
Contact us today by giving us a call or completing our online contact form and schedule your free, no-obligation consultation with one of our team members.