If you have been the victim of broker misconduct, you may be wondering if you need a stock fraud lawyer.
Here are just a few things that indicate that you need to obtain the services of an experienced stock fraud lawyer:
If you’ve been the victim of stock fraud, you will definitely need the services of an experienced stock fraud attorney who will handle your case. But, you may be wondering, what will a stock fraud attorney do for you?
In an attempt to make this process go a little bit easier for you — even though, certainly, the process itself is far from easy — here’s a short list of responsibilities that stock fraud attorneys will undertake on your behalf:
The American dream of home ownership has become a nightmare for thousands of Floridians. But you don’t have to face foreclosure proceedings alone; there are many ways to fight foreclosures and protect your assets. Savage & Villoch, your bankruptcy lawyers in Tampa, can help you plan the best alternatives for this stressful time.
Your alternatives depend on a thoughtful examination of your financial situation. Your attorney can guide you in the labyrinth of decisions to be made, such as whether your inability to make mortgage payments is short- or long-term and what relief programs apply to each situation, whether you qualify for a wide array of mortgage modification programs, or whether you should file for Chapter 7 or Chapter 13 bankruptcy protection. We can help demystify the process and let you know what to expect. Most of all, you are not alone in this stressful time.
Make sure you learn the specific options in your case. Such problems as “underwater” mortgages–those in which the home’s value has decreased–have their own set of alternatives and relief programs. You may have also heard about the “show me the note” defense, which many people have used to defend against foreclosures by showing the court that the loan was made pursuant to fraudulent practices. It’s a tricky defense, and whether it applies to you will have to be investigated by your attorney. Mortgage modifications are often fought tooth-and-nail by lenders, so it is in your best interests to have a knowledgeable advocate getting you the best modification possible.
Everyday, people contact attorneys to file Chapter 7 bankruptcy. While there are several reasons for doing so, the top five are:
Florida stock broker fraud attorneys well understand the underpinnings of the 2012 case of the U.S. Securities and Exchange Commission(SEC) versus First Resource Group, LLC, in which company principal David H. Stern was “charged with 3 counts of fraud.” The crime of fraud, in general, consists of deliberate misrepresentations–or omissions–of facts in order to profit, often at the expense of others.
In this case–Mr. Stern, of Florida, set himself up in 2008 as a stockbroker when, in reality, his company had never been “registered with the SEC.” He sold stocks using “instruments of interstate commerce and the U.S. mail to knowingly and recklessly employ devices, schemes, or artifices to defraud investors.” David Stern’s “devices and schemes” played out as follows:
Signing a contract with 2 companies to “solicit investors” for their stock, Stern sought to aid TrinityCare Senior Living, Inc., which built and managed senior-care housing and Cytta Corp., which composed medical data software. He was given 150,000 shares of TrinityCare and 200,000 shares of Cytta for his trouble.
Although the idea of filing bankruptcy might not be pleasant, there is a good chance that filing bankruptcy is exactly what you should do to get back on track. Dealing with financial issues can be difficult, but hiring a Tampa Chapter 7 lawyer to help you file bankruptcy could be life changing. These are a few signs that it’s time to look into bankruptcy as an option to get your finances on track.
1. You’re Getting Constant Collection Calls
Few things can be as unsettling and disruptive as receiving constant collection calls from your creditors. Plus, it can be embarrassing to receive calls when you’re around friends and family, and getting these calls while you’re at work can cause trouble for you at work. Once you file bankruptcy, however, you can help avoid these problems because your creditors will no longer be allowed to contact you via phone.
What happens to investors’ investments when companies go bankrupt? Well, it depends on the bankruptcy chapter filed, whether Chapter 11 reorganization or Chapter 7 liquidation. Investment recovery may be an option.
In Chapter 11, a company attempts to get rid of its debt in order to continue operating, even trading publicly during the proceedings, and turn the company around to profitability; whereas in a Chapter 7, the company goes out of business and attempts to sell assets to repay debts to creditors and investors.
Secured creditors, those with collateral backing their loans or investments, are given priority repayment status. In other words, they get paid back before unsecured creditors such as credit cards. Bondholders usually recover their principal investment with interest but stockholders, as owners of a piece of the company, may or may not recover their investments.
A Florida stock fraud lawyer is adept at aiding victims of what the U.S. Securities and Exchange Commission (SEC) calls–in its investor alert bulletins–“fraudulent stock promotions.” The SEC’s Office of Education and Advocacy recently issued a warning about “fraudsters who promote a stock to drive up the price, and then sell their own shares at the inflated price.” Therefore, these scam artists profit, but investors lose money. Explains the SEC, “promoters are often paid…or company insiders” who are experts at “creating buying frenzies” of stocks which may actually be worth little.
A Florida stock fraud lawyer–as well as the SEC–know that these charlatans promote stocks
Having compensated third parties to collect the e-mail addresses of wealthy, older investors who reside in certain upscale areas, these fraudsters continue to shell out for “online ads” in the forms of “pop ups” or “banners.” Even though these ads represent scams, their masterminds find ways to troll them across accredited “financial pages of news organizations.”
Even the most careful and diligent investors can get stuck in an investment fraud scheme without an investment fraud attorney. Florida residents who have been victimized by an investment fraud scheme (i.e., a Ponzi scheme, stock portfolio loss, negligence on the part of your stockbroker or financial adviser) will need a Florida investment fraud attorney, and we at the Savage law firm are here to help.
While it can be distressing to learn that you have lost thousands — if not hundreds of thousands — of dollars as a result of an investment fraud scheme, it should serve as some comfort to know that both state and federal laws protect you, the investor, from negligent, unsuitable, or otherwise illegal behavior by your investment advisers and/or stockbrokers; should you be a victim of such predatory behavior, these same laws also provide that you, the investor, can seek financial remedies against those same financial advisers and stockbrokers.
Of course, it’s never as easy as just asking for your money back, and getting it. The actual process of obtaining restitution for your losses can be a costly legal battle that requires an understanding of complex state and federal laws that most laypeople (i.e., non-lawyers) simply do not have. This is why the assistance of an investment fraud attorney is invaluable.
Most people rely on a financial planner for advice on how to invest their savings. They place their trust and their future in the hands of people they believe are experts. It’s assumed that the financial planner will look at the age, income, savings amount, financial needs, and individual goals of their client to determine the best possible investment strategy with a favorable outlook for the client. Unfortunately, this is not always the case. A Florida stock market fraud attorney explains what constitutes stockbroker fraud and your legal rights.
Stockbrokers and financial planners are legally bound to exercise due care in dealing with their clients investments. If a broker fails to uphold that duty, the broker may be charged with professional negligence and stock fraud.
Some examples of fraudulent stock practices include:
Securities Fraud Lawyers Blog
