Thursday

1

January 2026

Top 8 Best Investment Fraud Attorneys and Firms in the US

Written by , Posted in Securities Law

Investors and retirees who have been victimized by stockbroker violations or investment fraud need experienced, high-performing attorneys on their side. 

With investment fraud targeting retirees reaching crisis levels across the United States, our editorial team at Is That Legal dove in and conducted extensive research to identify the nation’s best investment and securities fraud lawyers in the US to help plaintiffs seeking legal representation in this area.

At Is That Legal, we selected the below attorneys and law firms objectively based on merit. Our rigorous selection criteria include:

  • Years of Experience & Focus: Each attorney has decades of experience (many 25+ years) dedicated to representing investors (plaintiffs) in securities fraud cases. Several began their careers as regulators or Wall Street insiders, giving them valuable insight into the industry’s inner workings.
  • Track Record of Recoveries: We considered the total amount of money recovered for clients, as well as notable wins. These lawyers have collectively recovered hundreds of millions of dollars for wronged investors, with some achieving record-breaking awards.
  • Major Case Victories: Each attorney has led significant cases (e.g. FINRA arbitration awards or court verdicts) – including multi-million-dollar awards – demonstrating the ability to win big for individual investors.
  • Reputation & Ratings: All are highly respected, with top peer-review ratings (many hold Martindale-Hubbell’s AV Preeminent® rating, indicating the highest level of ethical and legal ability. Many have leadership roles in investor advocacy groups or have been recognized by industry accolades (Super Lawyers, Best Lawyers, etc.).
  • Client Reviews & Reliability: We also note public client satisfaction where available (e.g. Google or Avvo reviews). A strong pattern of 5-star reviews and testimonials indicates a commitment to client service. Each attorney and law firm on this list offers free consultations and works on contingency, reflecting confidence in the merits of their clients’ cases.

Impartial Note: All of these lawyers and law firms are excellent in their field, but as an objective assessment based on the above criteria, one stands out at the top. Below is the list of the top investment fraud attorneys in the US for individual investors, with their relevant qualifications and achievements, as judged objectively by Is That Legal.

1. Best Investment Fraud Lawyer: Robert Wayne Pearce at the Law Offices of Robert Wayne Pearce, P.A.

Location: Nationwide Practice

Why He’s #1: Pearce has a near-flawless FINRA arbitration record, with over 100 hearings and only four investor losses — a rate that few, if any, attorneys can match. He is widely regarded for deep expertise in structured notes, Reg D private placements, and advisor negligence.

Key Highlights:

  • 45+ years of securities litigation experience.
  • Recovered more than $175M through direct arbitration and litigation.
  • Tried over 100 investor cases, with wins in the overwhelming majority.
  • Holds an AV Preeminent peer rating from Martindale-Hubbell (which only a handful of plaintiffs’ investment fraud lawyers hold). This rating is particularly significant in the securities field because it demonstrates that Robert has been recognized by his peers for both his legal ability and ethical standards – crucial qualities when representing investors who have suffered financial losses due to fraud or misconduct.
  • Known for working one-on-one with clients and offering contingency representation, with a near-perfect 4.9 average review rating from clients.

Why He Stands Out for 2025/2026: Investment fraud attorney Robert Wayne Pearce and his law firm is not a volume-based class-action deal. He thrives in high-stakes individual cases, especially those involving complex instruments or senior investor abuse, where his arbitration tenacity directly determines the outcome. 

This and other factors places Robert Wayne Pearce as the best investment fraud attorney in our list for the majority of retail investors and common victims of investment loss who were defrauded by their stockbroker or financial advisor. We’d recommend you to read the Super Lawyers article “No Excuses” on Robert Wayne Pearce’s background.

2. Meyer Wilson 

Location: Columbus, OH (National Practice)

Why They’re Ranked High: Instead of touting large-dollar totals, Meyer Wilson earns this spot through its nation-leading leadership in investment-related class actions and consumer protection litigation. They have helped lead some of the largest coordinated recovery efforts in investment history.

Key Highlights:

  • Represents thousands of investors in consolidated proceedings.
  • Lead counsel in massive Ponzi and pyramid scheme litigation.
  • Strong in mass arbitration strategy and regulatory coordination.
  • DAvid meyer is the author of educational content including the book The Investor Protector.
  • Rated as one of the “Best Law Firms in America” by U.S. News & World Report.

What Sets Them Apart: Meyer Wilson excels when hundreds or thousands of investors have been harmed in a common scheme. Their strength lies in creating infrastructure for broad redress, not in individualized arbitration cases.

3. Tom Ajamie

Location: Houston, TX (National Practice)

Why He Ranks: Ajamie is one of the most accomplished trial attorneys in securities fraud. While his total recoveries are enormous, what sets him apart is his ability to win massive, record-setting verdicts in both arbitration and civil litigation.

Key Highlights:

  • Won a $429M arbitration award against PaineWebber — among the largest in NYSE history.
  • Secured $14.5M in a FINRA arbitration against Prudential.
  • Successfully litigated investor-side RICO claims (rare and complex).
  • Known for white-collar and cross-border litigation skill.

Standout Factor: Ajamie’s courtroom dominance in bet-the-case litigation gives him an edge in high-stakes disputes where arbitration may not be available or desired. He’s the choice for investors facing multinational financial fraud or major institutional negligence.

4. Lloyd Schwed 

Location: Palm Beach Gardens, FL

Why He’s Ranked: Lloyd Schwed offers elite FINRA arbitration experience, including notable recent wins against top-tier brokerage firms.

Key Highlights:

  • Achieved an $18.2M FINRA award in Gomez v. UBS.
  • More than 40 years of experience in securities defense and investor claims.
  • Highly rated for suitability and fraud-focused litigation.
  • Provides direct partner-level access and contingency billing.

Standout Factor: Schwed combines technical expertise and client-first service, with a litigation style that emphasizes clarity and risk mitigation for retirees and high-net-worth clients.

5. Stuart Meissner 

Location: New York, NY

Why He’s Ranked: Meissner’s firm is best known for its early and successful use of SEC’s whistleblower program, having secured one of the largest Dodd-Frank awards for a client.

Key Highlights:

  • $22M whistleblower award from the SEC for client tip submission.
  • Dual focus on FINRA arbitration and SEC regulatory practice.
  • Former Assistant Attorney General with prosecutorial expertise.
  • Aggressive advocate for clients in complex compliance and fraud cases.

What Makes Him Unique: Meissner is particularly powerful for investors who are also whistleblowers or former employees, needing both protection and payout.

6. Carl Schoeppl 

Location: Boca Raton, FL

Why He’s Ranked: A former SEC Enforcement attorney, Schoeppl uses his deep understanding of regulatory enforcement to represent individual investors facing fraud from private placements, insider schemes, and bad advice.

Key Highlights:

  • Former SEC prosecutor in Washington, D.C.
  • Expert in insider trading, broker negligence, and ERISA-related fraud.
  • Operates a boutique practice with a laser focus on investor-side litigation.
  • AV-rated with national reach.

Standout Factor: Schoeppl’s SEC background gives him insight into regulatory blind spots brokers exploit — and how to build ironclad cases against them.

7. Haselkorn & Thibaut

Location: Jupiter, FL

Why They’re Ranked: This veteran-led firm has built a reputation for hard-edged litigation against brokerage firms, especially in elder abuse and misallocated retirement accounts.

Key Highlights:

  • 50+ years of combined legal experience.
  • Offices nationwide and former broker-industry insiders.
  • Specialists in high-fee products, retirement plan abuses, and illiquid investments.
  • Contingency representation with high client satisfaction.

Standout Factor: With a strong ethical foundation and clear focus on retiree protection, this firm is especially popular with older investors who trusted the wrong advisor.

8. Erez Law 

Location: Miami, FL (National Practice)

Why They’re Ranked: Erez Law focuses on direct action arbitration for individuals and couples who were misled into unsuitable or speculative investments.

Key Highlights:

  • Over 20 years of experience focused exclusively on securities fraud.
  • Skilled in alternative investments, structured notes, and REIT cases.
  • Known for aggressive motion practice and strong negotiating leverage.

Unique Edge: If your case revolves around a single fraudulent advisor or firm, Erez Law may be a strong fit for direct FINRA arbitration filings without class-action overhead.

Final Verdict:

Yes, each of the above attorneys meets the highest standards in this specialized area of law. All are chosen based off of their experience as plaintiff lawyers who recover money for defrauded investors. 

When choosing an attorney for an investment or securities fraud case, consider these key signals of quality: experience, successful recoveries, professional ratings, and client focus. Based on those factors, Robert Wayne Pearce emerges at the top of an elite field based off of the detailed research done by Is That Legal, but all eight lawyers listed have the proven ability to fight for individual investors and win back their hard-earned savings.

Tuesday

17

June 2025

Coinbase data breach lawsuit: Can a sign-up get $1000+ in settlement payouts?

Written by , Posted in Contract Law, Cybersecurity Law

If you’ve received an email or notice from Coinbase in May 2025 about the data breach/hack that involved your account, you may be wondering what to do, and if you’re actually eligible for large compensation amounts as promised by advertisements you see online.

Answer: Maybe, you might be able to get hundreds or even potentially a $1,000+ settlement from this lawsuit if you qualify. At Is That Legal, we’ve calculated that Coinbase’s $180M–$400M remediation fund yields a theoretical per-person range of $1,850 to $5,700 (if all funds are distributed, and without any legal costs), but this assumes full payout to every victim involved in the lawsuit, which is unlikely.

For those who sign up for the 2025 Coinbase data breach lawsuit, the websites of various law firms such as Harrer are hinting at a potential settlement of hundreds of dollars per customer from state consumer protection and privacy law claims (via potential mass arbitration cases), while firms such as Milberg seem to be investigating both class action lawsuits and arbitration options for their potential clients/plaintiffs, but without discussing specific dollar amounts.

Important: Some law firms such as Brooks Kushman are looking to target actual damages to customers like you from Coinbase’s egregious hacking incident, including: potential restitution of stolen crypto funds and scam losses, fees for identity restoration, credit monitoring, and potential punitive amounts. These cases may deliver more for those with verifiable losses as a result of Coinbase’s inadequate safety measures, but likely won’t reach the $1,850–$5,700 range per-person across the board.

As the claims and legal process advances, the class action/mass arbitration filings will provide clearer breakdowns of payout amounts per claim.

Is That Legal is here to help: you can sign up now via the below link and preserve your eligibility, especially since it’s free to join upcoming lawsuits and specific compensation and payout figures will emerge as investigations and cases progress, at which point it may be too late to join.

2025 Coinbase Lawsuit Sign-Up Form

Have you received a Coinbase Data-Breach Notice? Brooks Kushman P.C might be able to represent you. Start your claim by signing up for the Coinbase class action legal action via this link. If you fill out the form you give consent to be contacted by the attending law firm.

What steps do I need to sign up for this lawsuit?

You don’t need to be an expert or do this alone. Signing up takes just a few steps—and could lead to real compensation (in the hundreds or even thousands of dollars). Below we’ve highlighted how this process generally works based on our experience:

1) Confirm You Were Affected – Look for an email or message from Coinbase sent around May 11, 2025, alerting you about the breach. If you received it—or saw suspicious activity on your account—you’re likely eligible.

2) Fill Out the Intake Form once you click this sign-up link – You will provide some data to tell the attending law firm you’re a real victim. This is important for them to know as they work on contingency (they only get paid if you win). So you would need to provide some basic info online via a quick multiple choice form:

  • Your name, email, address
  • Coinbase account status
  • Summary (usually multiple choice answers) regarding fraud, identity theft, or time spent fixing things

3) Submit Proof of Impact (if you have it) – As part of the “intake” procedure, you will most likely need to upload copies of:

  • The breach notification email
  • Account statements showing suspicious activity
  • ID documents, if they were exposed
  • Any police or fraud reports

Don’t worry if you don’t have everything—start with what you’ve got.

4) Sign a Retainer Agreement – This is your official agreement with the law firm, but it’s usually a very quick DocuSign or in-browser electronic signing procedure that you can do on your phone.

5) Approve Arbitration (if applicable) – If the law firm is filing a mass arbitration claim, they may ask you to sign an authorization form and agree to arbitration rules (usually quick and confidential and likely only to come into play once you’ve spoken with an attorney on the details of your case).

6) Watch for Updates – The firm will keep you posted by Email or text or client portal

7) Claim Your Compensation (Once Available) – If there’s a settlement, you’ll be asked to:

  • Fill out a short claims form
  • Confirm your contact info and any losses
  • Choose how you’d like to get paid (check, PayPal, etc.)

Update on Coinbase’s 2025 data breach lawsuit

As of May 27th 2025, Coinbase has updated their user agreement in the United States to reflect the below (we’ve bolded the important bits). Coinbase wants to limit their exposure to mass arbitration claims, however (and this isn’t legal advice) this may not actually apply to victims in the data breach/hacking incident which occurred prior to this terms and conditions/user agreement being updated.

“…Class, Collective, Representative, and Mass Action Waiver and Jury Trial Waiver. You and Coinbase agree that, except as specified in the Batch Arbitration Provision set forth above, each of us may bring claims against the other only on an individual basis and not on a class, representative, or collective basis or as part of a mass action (such as a mass arbitration), and the parties hereby waive all rights to bring or to participate in such actions in arbitration or in court to the maximum extent permitted by applicable law. This provision does not prevent you or Coinbase from participating in a class-wide settlement of claims. YOU AND WE AGREE TO WAIVE OUR RIGHTS TO A JURY TRIAL. To the extent that any Dispute proceeds in court, and to the maximum extent permitted by applicable law, you and we agree to waive any right to a jury trial and have such matter resolved by a judge (also known as a bench trial).…”

What You Can Do Next: Join the Coinbase Global, Inc. Lawsuit and Claim Compensation Today

Have you received a Coinbase Data-Breach Notice? Brooks Kushman P.C might be able to represent you in this case. Sign up for the Coinbase class action legal action today via this link. If you fill out the form you give consent to be contacted by the attending law firm.

.

Thursday

22

August 2024

2024 Ticketmaster data breach compensation: Just how much are you eligible for if you sign up?

Written by , Posted in Consumer Law, Contract Law, Cybersecurity Law, Statutory Law

If you’ve received an email or notice from Ticketmaster about the data breach/hack that happened in 2024, you may be wondering what to do, and how much compensation you’re eligible for.

The path to receiving that compensation (and how much settlement you can get) can be taken in various legal ways.

Here’s the three options you have to sign up for the lawsuit:

  1. Class Action Lawsuit: Several law firms are investigating potential class action lawsuits against Ticketmaster and Live Nation. While class actions can be an efficient way to address widespread harm, they often result in relatively small payouts for individual plaintiffs.
  2. Individual Lawsuit: You could file an individual lawsuit against Ticketmaster, but this approach can be costly and time-consuming.
  3. Mass Arbitration: This strategy combines elements of individual representation with the collective power of group action. It is the strategy of choice for some law firms who have fought on behalf of their clients against the largest companies in the world and won.

Update (01/13/2025): Sign-ups are closed for this case. You can see the below screenshot from Mason LLP’s site regarding their mass arbitration efforts, as well as Morgan and Morgan’s page (https://www.forthepeople.com/blog/live-nation-and-ticketmaster-data-breach-lawsuit-what-know/) which has stopped new client intake for the Ticketmaster data breach case. Their page is now redirecting to their blog’s homepage.

We wish the best for the claimants and plaintiff’s in this case and hope the settlement that is reached is notable and significant for everyone negatively affected by the defendant (Ticketmaster).

Ticketmaster Data Breach Lawsuit Sign Up

If you received a letter or email notification from Ticketmaster about the data breach/hack in 2024, you can join the lawsuit by filling out this form. (Update (01/13/2025: this link is no longer active as the case is now closed for sign-ups)

Why Mass Arbitration May Result in the Largest Settlement/Compensation

Mass arbitration is gaining traction as an effective alternative to traditional class action lawsuits primarily due to increased payouts, and a shorter timeline.

If you’re wondering about how much the ticketmaster data breach compensation is in dollar amounts for each individual plaintiff, nobody can answer that for you just yet, but here’s why it might be the optimal choice for plaintiff’s:

Personalized Representation

Unlike class actions where all plaintiffs are treated as a single bulk entity, mass arbitration allows for individual representation. Law firms handling mass arbitrations file separate cases for each client, focusing on the specific details of your situation. 

This personalized approach could potentially lead to higher compensation compared to what you might receive in a class action settlement.

Potential for Higher Payouts

By avoiding the “one-size-fits-all” nature of class actions, mass arbitration may result in more substantial settlements for individuals. Your specific circumstances, such as the extent of data compromised or any resulting financial losses, can be more thoroughly considered.

Bypassing Arbitration Clauses

Many companies, including Ticketmaster, have arbitration clauses in their terms of service that prevent customers from participating in class action lawsuits. Mass arbitration turns this tactic on its head by overwhelming the company with numerous individual arbitration claims, often leading to more favorable settlement terms.

Efficient Process

While each case is handled individually, mass arbitration allows law firms to streamline the process by using similar arguments and evidence across multiple cases. This efficiency can lead to faster resolutions compared to traditional lawsuits.

How to Join the Lawsuit Against Ticketmaster/ Live Nation

If you’re one of the 560 million customers affected by this Ticketmaster data breach in 2024 and wish to seek a refund and additional compensation, follow these steps to join the mass arbitration process:

  1. Confirm Your Eligibility:
    • Check if you received an *official* email or letter notification from Ticketmaster about the data breach.
    • If you didn’t receive a notice but believe you may be affected, contact Ticketmaster directly.
  2. Gather Documentation:
    • Collect all relevant information, including:
      • Emails from Ticketmaster about the breach
      • Evidence of any fraudulent charges
      • Records of time spent addressing the breach
    • Organize these documents for easy access when needed.
  3. Sign Up
    • Sign up via this secure sign-up form for the Ticketmaster data breach case. (Update (01/13/2025: this link is no longer active as the case is now closed for sign-ups)
    • You’ll need to provide:
      • Personal information (name, address, contact details)
      • Ticketmaster account information
      • Details about how you’ve been affected by the breach
      • Any relevant documentation (e.g., breach notification emails, evidence of fraudulent charges)
  4. Review and Submit:
    • Carefully review all information before submitting.
    • Ensure you understand:
      • The law firm’s terms of representation
      • Any fees or costs involved, which are usually none: most plaintiff law firms handle these cases on a contingency fee basis, meaning you pay no upfront costs and only pay if they win your case.
      • Your rights and obligations as a plaintiff
    • If anything is unclear, don’t hesitate to ask your law firm for clarification.
  5. Confirmation and Next Steps:
    • After submitting your information:
      • Look for a confirmation email or message from your attorney
      • Follow any additional instructions provided by the firm
      • Be prepared to provide more information or documentation if requested
  6. Stay Informed:
    • Once you’ve signed up for the class action / mass arbitration lawsuit :
      • Regularly check your email for updates from the firm
      • Visit your law firm’s website for case updates
      • Consider joining any secure online portals or groups set up for plaintiffs
    • Keep all communications for your records.

What to Expect in Terms of Compensation

While it’s difficult to predict exact compensation amounts, data breach settlements can include:

  • Reimbursement for out-of-pocket expenses related to the breach
  • Compensation for time spent dealing with the breach
  • Credit monitoring services
  • Identity theft insurance

Mass arbitration settlements have the potential to be more substantial than typical class action payouts, which often amount to only a few Dollars up to a few dozen Dollars per person.

Remember, the legal process can take time, so patience is key. By following these steps and staying engaged, you’ll be well-positioned to pursue compensation for any damages resulting from the Ticketmaster data breach.

Join the Ticketmaster / Live Nation Lawsuit and Claim Compensation


If you’ve been affected by this data hack/breach, you may be entitled to join and claim compensation for the exposure of your private data and any resulting damages as a result of that. If you received a letter or email notification from Ticketmaster about the data breach, you can join the mass arbitration lawsuit by filling out this form. (Update (01/13/2025: this link is no longer active as the case is now closed for sign-ups)

Saturday

27

July 2024

AT&T data breach lawsuit: Can you actually receive a $750 settlement?

Written by , Posted in Consumer Law, Contract Law, Cybersecurity Law

Answer: Maybe. If you’re a current or former AT&T customer whose Personally Identifiable Information (PII) was compromised in the breach, you may be entitled to a significant compensation payout in a class action lawsuit. 

California residents, in particular, could be eligible for up to a $750 settlement amount under the California Consumer Privacy Act (CCPA). Eligibility and compensation amounts can vary based on the specific impact of the exfiltration of your personal and financial data.

Lawsuit Update: 06/25/2025: A federal judge in Dallas granted preliminary approval on June 20, 2025, for a $177 million class‑action settlement resolving lawsuits tied to two major breaches: one in March 2024 involving 7.6 million current and 65.4 million former account holders, and another in July 2024 where hackers accessed call/text logs for approximately 109 million customers via a Snowflake cloud platform . Affected customers may be eligible to claim up to $5,000 for documented losses (2019‑style breach) or $2,500 for the metadata incident, and flat-rate payments for others whose data was exposed. Notifications will begin August 4, with a claims deadline of November 18, 2025, and final court approval is expected after a December hearing—payments projected in early 2026

If you received notice of the AT&T breach you can open a claim by filling out a claim form with one of the various law firms representing the plaintiffs in this case. For example:

  • https://potterhandy.com/att-data-breach-lawsuit
  • https://www.kazlg.com/att-data-breach/
  • https://www.cpmlegal.com/cases-CPM-Investigating-ATT-Data-Breach-Affecting-73-Million-Current-and-Former-ATT-Customers
  • https://www.cohenmilstein.com/case-study/att-data-breach-arbitration/

AT&T blue logo and black text for legal uses 2024 data breach lawsuit

How Can I Claim Compensation? 

To claim compensation, you may need to sign-up and join a class-action lawsuit or file an individual claim. Or you can do nothing and await the legal proceedings.

We’ve seen several prominent law firms take action in response to the 2024 AT&T data breach by filing class action lawsuits on behalf of affected customers in the U.S. These firms are actively seeking to hold AT&T accountable for the data breach / hack and to secure compensation for impacted individuals, up to $750 per victim and possibly more.

Mason LLP, Gibbs Law Group, Cohen Milstein Sellers & Toll PLLC, Barnes Law Group, Stueve Siegel Hanson LLP, and DiCello Levitt LLP are jointly representing plaintiffs in a class action suit against AT&T. There are other law firms as well.

Beasley Allen has also initiated a class action lawsuit on behalf of affected customers in efforts to increase settlement totals. Labaton Keller Sucharow is also investigating private arbitration claims against AT&T for California residents.

AT&T Data Breach 2024 Lawsuit Compensation Form

You can submit your AT&T lawsuit compensation claim form to the administrator to prove that you are entitled to part of the settlement if your personal data was compromised in the AT&T data breach. You can do so by filling out the sign-up form on one of the above-mentioned law firm websites.

Note: When working with a lawyer, be aware of the statute of limitations for data breach claims in your state. Provide any evidence of your AT&T account, breach notifications received, and documentation of related expenses or identity theft incidents.

What Types of Compensation / Payouts Are Available? 

Potential settlement Dollar amounts may include reimbursement for financial losses, free credit monitoring services, identity theft protection, and in some cases, statutory damages. Some lawsuits are also seeking compensation for the time and effort spent dealing with the aftermath of the hack/breach.

How Much is the AT&T Settlement Refund / How Much Can I Expect? 

The final settlement amount from AT&T you can look forward to will vary widely depending on factors such as your location, the extent of damages you’ve suffered, and the outcome of legal proceedings. While California residents may be eligible for up to a $750 payout, actual amounts could be lower or higher based on individual circumstances and the overall resolution of claims against AT&T. As for the question of “how much of a settlement can I get,” we won’t know until this lawsuit proceeds through the judicial system.

What Evidence Do I Need to Provide? 

You may need to provide evidence of your AT&T account, any notification you received about the breach, and documentation of any financial losses or identity theft incidents related to the breach. Keep records of time spent addressing the breach’s impact and any associated expenses.

What Legal Steps Should I Take? 

Consider consulting with a lawyer experienced in data breach cases. They can help you understand your rights, assess the strength of your claim, and determine whether joining a class action or pursuing individual legal action is most appropriate for your situation.

What is AT&T Offering Currently? 

At the moment (July 2024), ATT is offering a suggestion for users to change their password and such, which can be found at www.att.com/accountsafety. AT&T has also stated it will offer credit monitoring at its expense where applicable. However, this is just the first step that companies like this take, and it may not be sufficient to cover all potential damages. It’s important to understand your rights and explore all available options for settlement beyond what AT&T is voluntarily offering. 

Are There Deadlines for Signing Up and Filing Claims? 

While specific deadlines haven’t been publicized by the law firms representing the plaintiffs, it’s crucial to act promptly. Statutes of limitations for data breach claims vary by state and can impact your eligibility for compensation. Consulting with a lawyer early can help ensure you don’t miss important deadlines.

Will My Claim and Settlement Affect My Relationship with AT&T?

Pursuing compensation should not negatively impact your service with AT&T. Consumer protection laws generally prohibit retaliation against customers for exercising their legal rights. However, if you have concerns, discuss them with your class action lawyer who can provide guidance specific to your situation.

What You Can Do Next:

Data breach attorneys and former cybersecurity experts advocate for the rights of consumers impacted by such incident. You may want to sign up and work with one of these law firms as a plaintiff. 

If you received notice of the AT&T breach and would like to see if you qualify for a settlement up to $750, you can start a claim here with one of the representative law firms listed above.

Saturday

15

June 2024

Question: Is It Legal to Sue Your Broker?

Written by , Posted in Securities Law

Answer: Yes, it is legal to sue your broker or financial advisor if you have suffered financial losses due to their misconduct or negligence.

As an investor, you have the right to take legal action against your financial professional if they have failed to act in your best interest or have engaged in practices that have caused you harm.

When Can You Sue Your Broker or Financial Advisor?

There are several instances when you can take legal action against your broker or financial advisor. One of the most common reasons we see all the time is a breach of fiduciary duty. If you’re curious, you can check the FINRA database and research the professional backgrounds of any U.S. registered investment professional, brokerage firms and investment adviser firms. There’s A LOT with disciplinary actions!

What is Fiduciary duty?

Fiduciary duty arises from various sources, including state common law, the Securities and Exchange Commission’s Regulation Best Interest (Reg. BI), and the Investment Advisors Act of 1940. A financial professional’s fiduciary duty requires them to perform their duties with the highest level of professionalism, act in the client’s best interest, and put the client’s interests above their own. Sounds good on paper, and most brokers and firms understand this, but there’s always a few bad apples who disregard all moral and legal ethics to make an extra buck.

If your broker or financial advisor breaches any of these duties, you may have grounds for a lawsuit.

Another instance when you can sue your broker is when they engage in unauthorized trading. Legally, brokers (including stockbrokers) must have express authority from their clients to execute trades on their behalf. If your broker makes transactions without your approval and you suffer financial losses as a result, you can seek compensation.

Material omission or misrepresentation is another reason to sue your broker or financial advisor… They are obligated to provide you with all the necessary information to make informed investment decisions. If you lose money due to their misrepresentation or failure to disclose relevant information, you have the right to take legal action.

Inappropriate investments can also be grounds for a lawsuit. Before June 30, 2020, the suitability rule required brokers to recommend securities that aligned with their client’s investment objectives, risk tolerance, and other unique factors. After June 30, 2020, Reg. BI required that investment advice be made with the investor’s best interests in mind. If you suffer losses because your broker made inappropriate investments, you may have a case against them.

Churning, or excessive trading to generate commissions, is another form of misconduct that can lead to a lawsuit. If your broker engages in frequent trading and charges high commissions (usually without much benefit for you), causing you financial harm, you can seek legal recourse.

Finally, a lack of diversification in your portfolio can also be a reason to sue your broker or financial advisor. They have a responsibility to discuss the risks associated with a concentrated portfolio and ensure that your investments are properly diversified. If you suffer losses due to a lack of diversification, you may have a case against your financial professional.

Proving Negligence or Fraud

To successfully sue your broker or financial advisor, you must prove two elements: liability and damages. Liability refers to the wrongful conduct (negligence or fraud) of your financial professional, while damages refer to the financial losses you have suffered as a result of their misconduct.

Proving fraud or negligence can be complex, and it is often beneficial to hire an experienced attorney to help you build a strong case. They can assist you in gathering evidence and navigating the legal process to increase your chances of a successful outcome.

Legal Options for Suing Your Broker or Financial Advisor

There are two main legal options for suing your broker or financial advisor: arbitration and a lawsuit. Arbitration is the most common path, as most brokerage firm customer agreements and investment advisory agreements contain arbitration clauses. FINRA arbitration is similar to court litigation, and it is crucial to utilize an experienced attorney to help you navigate the complex legal claims and arbitration process (you won’t fare well going into it alone–this isn’t small claim courts)/

It is important to note that arbitration is binding, and there are limited grounds for challenging an arbitration award. If you are unsatisfied with the outcome, you can only challenge the award if you can prove that the arbitrators were biased, did not apply the law correctly, or failed to consider the evidence presented.

In rare cases where an investment agreement does not contain an arbitration clause, you can file a lawsuit against your broker or financial advisor. Court cases often have strict procedural rules and can be more expensive and time-consuming than arbitration. However, a jury trial may potentially result in a more favorable outcome for the investor. It is essential to weigh the costs and benefits of a lawsuit with an experienced attorney before proceeding.

Re-cap

It is legal to sue your broker or financial advisor if you have suffered financial losses due to their misconduct or negligence… There are various circumstances under which you can take legal action, including breach of fiduciary duty, unauthorized trading, material omission or misrepresentation, inappropriate investments, churning, and lack of diversification.

To successfully sue your financial professional, you must prove both liability and damages. Hiring an experienced securities attorney can help you build a strong case and navigate the complex legal process.

When considering your legal options, arbitration is the most common path due to the prevalence of arbitration clauses in investment agreements. However, in rare cases, a lawsuit may be an option. It is crucial to consult with an experienced attorney to determine the best course of action for your specific case.

If you believe that you have been wronged by your broker or financial advisor, do not hesitate to seek legal advice. By holding negligent or fraudulent financial professionals accountable, you can protect your rights as an investor and work towards recovering your financial losses.

[CONTACT THE ATTORNEY WHO ANSWERED THIS QUESTION]

← Older Entries
Newer Entries →

Recent Posts

For the Latest Updates



Trending Posts

Disclaimer and Privacy Policy
Contact

Categories