Losing your money to a bad investment or scam can be devastating both financially
and personally, but all hope isn’t necessarily lost. You have several
options that you can pursue in order to recover that money, and while
your specific situation may vary, the investment fraud attorneys at Meyer
Wilson are here and ready to help you.
File an Arbitration Claim: If your dispute involves a brokerage firm or one of its brokers, the first
option available to you is to
file a formal arbitration claim through the Financial Industry Regulatory Authority (FINRA). You should
always hire a qualified and experienced securities arbitration attorney
to assist you in this process In our many years' of securities arbitration
experience, we believe that pursuing formal arbitration claims is the
most effective route for helping investors recover the money they lost
as a result of stockbroker misconduct.
Financial Restitution Through Official Enforcement Actions: Both FINRA and the United States Securities and Exchange Commission (SEC)
have the authority to pursue enforcement actions that can include, in
some limited circumstances, financial restitution for investors. If the
regulatory body takes action of this type and determines that investors
are entitles to a portion of the recovered funds, they will either contact
the investor directly or appoint a separate party to reach out and inform
them before distributing the assets. While this course of action may similarly
result in the broker and / or firm facing regulatory actions, it is unlikely
to result in the financial compensation you expect or deserve. On top
of that, you need to be careful when accepting this type of call - fraudsters
commonly impersonate SEC and / or FINRA officials in an attempt to scam
Alternative Options: The SEC has the authority to distribute financial penalties to investors
through the Fair Fund provisions present in the Sarbanes-Oxley Act of
2002, and the regulatory body maintains a
list of cases involving Disgorgement and Fair Funds Plans. In our experience, this is
not a common avenue of potential recovery for aggrieved investors.
The Securities Investor Protection Corporation (SIPC), a non-government,
non-profit membership corporation may provide
limited protections to investors. Their main purpose of the organization is to ensure that an investor’s
securities and cash are returned in the event that a clearing firm or
a firm that sells bonds and stocks to the public becomes financially incapable
of returning property to their customers. It’s important to confirm
the identity of anyone claiming to be a SIPC representative – they
are another popular name scammers tend to use when targeting people.
Depending on your situation, you may be eligible to participate in a class
action lawsuit to recover your losses. You can find out if a private class
action lawsuit has been filed through the
Securities Class Action Clearinghouse.
Hire an Attorney: In our experience, you will find the greatest success if you hire a qualified
investment fraud attorney to assist you in recovering your losses. Our
team at Meyer Wilson works on a contingency fee basis, and has helped
approximately 1,000 clients since 1999, recovering hundreds of millions
of dollars in verdicts and settlements along the way. We’ve handled
all kinds of cases, and over the years we’ve successfully executed
on the strategies that can help secure you the maximum possible compensation.
Fill out our online form to begin your free consultation today.