Since 1999 our law firm has recovered more than $350,000,000 for victims of investment fraud and misconduct.
Jury Verdict Won Against Prudential Securities $262 Million
Recovered for 100-Year Old Widow $30 Million
Recovered in Retirement Losses $10 Million
Recovered for a Large Group of Individual Investors $6.5 Million
Recovered for Elderly Victim in Ponzi Scheme Case $3.8 Million
Recovered for Elderly Ponzi Scheme Victim $3.2 Million
Recovered for More Than 50 Families of Ponzi Scheme in California $3.2 Million
Recovered for 35 Families in Northeast Ohio $3.1 Million
Losses Recovered for 20 Retirees $3 Million
Recovered for Retired Physician Against Major Wall Street Firm Prior to Filing FINRA Arbitration $2.5 Million
Pennsylvania Churning Fraud
It is a broker’s legal and ethical duty to manage an investment account according to the owner’s best interests. The broker must make suitable recommendations and only buy and sell securities with the good faith belief that it will benefit the investor. Unfortunately, many brokers and financial advisors in Pennsylvania are guilty of churning misconduct that breaches these duties of care.
If you notice signs of excessive trading on your account, you could be a victim of churning. Consult with an attorney at Meyer Wilson as soon as possible to discuss the possibility of compensation.
What Makes Us Unique?
- We have more than 20 years of experience representing churning claims.
- We have achieved outstanding results for clients – over $350 million.
- We received the honor of 2020 Best Lawyers in America.
- We are not intimidated by powerful defendants or aggressive legal teams.
- We only earn attorney’s fees if we recover money at the end of your case.
How Our Attorneys Can Help for Churning in Pennsylvania
Investment churning in Pennsylvania can be difficult to deal with alone. You may have lost thousands of dollars with or without proof of churning. Even if you merely suspect churning, an attorney from Meyer Wilson can investigate your case and let you know if he or she believes you are a victim. When you retain an attorney from our law firm, you immediately gain access to an invaluable wealth of resources. Our lawyers and support staff can walk you through the legal process while educating you on your rights and keeping you updated about your claim. You can have peace of mind with one of our attorneys assigned to your churning claim.
Is Churning a Type of Investment Fraud?
You may need to hire a lawyer if an advisor or broker is churning your account because this is a form of investment fraud. Churning is the intentional buying and selling of securities excessively to create a profit for the broker. Stockbrokers receive commissions and often additional fees every time they buy and sell securities on an investor’s account. Criminal brokers may excessively trade for the commissions without any regard for the best interests of the investor.
Churning could lead to the loss of significant funds while a criminal stockbroker profits on the trades. If you suspect a broker of committing investment fraud in the form of churning, contact an attorney right away. The sooner you involve a lawyer, the sooner you will have a professional safeguarding your rights. If you are unsure whether you are a victim of churning, discuss your situation with a lawyer who can tell you the common signs of churning.
How to Detect Churning in Pennsylvania
As a savvy investor, you may already know how to stay away from brokers who do not have your best interests in mind. If you are new to investing in Pennsylvania, however, you may fall prey to brokers who target green investors for churning and other forms of investment fraud. The best way to protect your assets is to learn the red flags of churning.
- Too many notifications confirming trades
- An unusually high turnover rate (four to six or more)
- Broker misconduct
- A pushy or negligent broker
- Returns that do not match the market
As soon as you notice something amiss in your account or in the way your broker manages things, contact a lawyer from Meyer Wilson for a consultation about a potential lawsuit. If churning has already led to a loss of funds, you could be eligible for reimbursement from the at-fault stockbroker. We can help you bring a civil lawsuit or class action in Pennsylvania. Learn more about other types of investment fraud in Pennsylvania such as Ponzi schemes.
Request a Free Consultation About Churning Today From Our Lawyers
Excessive trading is a type of investment fraud that could cost you thousands of dollars in economic losses. If a broker is guilty of churning, the individual or the brokerage firm could be legally responsible for related damages. The attorneys at Meyer Wilson may be able to help you hold a defendant accountable for your losses in Pennsylvania. Discuss your case with a lawyer today at (800) 738-1960. We also respond to callback requests online.
More than $350,000,000 Recovered
Voted Best Lawyers in America® for Ten Years Running
David Meyer is President of Public Investors Advocate Bar Association (PIABA)
Over a Thousand Investor Claim Cases Since 1999
Exclusive Focus on Investor Claims & Class/Mass Action Lawsuits
Deep Bench of Skilled Attorneys and Staff Members
Meyer Wilson has represented over 1,000 individual investors in high-stakes claims across the country, and has recovered over $350 million on their behalves. See what former clients have to say about our team.