Florida Stock Fraud Lawyer
Other claims can arise from trading in stocks, bonds, mutual funds and other investments that were not suitable based on your investment objectives and the financial information you provided; unauthorized trading; mutual fund switching; “break point” violations; excessive buying and/or selling of one or more stocks (churning); switching from fixed annuities to variable annuities and/or the frequent buying and selling of different fixed or variable annuities that cause harsh penalties (surrender charges) and additional large commissions to be incurred. Contact our experienced Florida stock fraud lawyers today.
Losses are usually in a variety of different types of accounts, including individual, joint tenant, JTWROS, trust, corporate, UGMA, UTMA, Charitable Remainder Trusts, Individual Retirement accounts (IRA), Roth IRA accounts and custodial accounts.
Recently, we have seen many claims involving:
- Fannie Mae (FNM)
- Freddie Mac (FRE)
- Preferred stocks
- Auction Rate Securities and securities with sub-prime mortgage components that were sold to clients as safe, secure, conservative and liquid investment alternatives to CD’s and money market accounts
- UBS/Lehman Principal Protected Notes
- Medical Capital Holdings Notes
- Provident Royalties
- Shale Royalties
- Citi Internotes
- REITS (Wells, Apple, Cole, Behringer Harvard, Inland, Hines, KBS, Grubb and Ellis)
Similarly, many individuals were placed in mutual funds that were misrepresented and sold as safe, conservative, income funds that have incurred drastic and devastating losses.
We have also seen an increase in cases involving Ponzi schemes, the most notable being:
- Bernard Madoff
- Arthur G. Nadel and Scoop Management, Inc. (Viking Fund, Valhalla Fund and Scoop Fund).
Remember Our Goal is to Help You Recover Your Investment Related Losses
One of the latest techniques to obtain an account is through “free lunch” seminars. If you attend one of these seminars, think long and hard before you make any changes or switch your account from one broker to another. At these seminars, it is not uncommon that investors are convinced to sell low risk, safe and secure stocks, bonds, mutual funds and fixed annuities to purchase unsuitable variable annuities. Recently the SEC commenced an administrative proceeding against Gilman Ciocia Inc. and Prime Capital Services, Inc. alleging that supervisors (Michael P. Ryan, Rose M. Rudden, Christie A. Andersen and Matthew J. Collins) and registered representatives (Eric J. Brown, Kevin J. Walsh and Mark W. Wells) permitted and engaged in the recruitment of elderly investors in South Florida through “free lunch” seminars where the elderly investors were then offered and induced to purchase unsuitable variable annuities by means of material misrepresentations and omissions.
Contact an Experienced Florida Stock Fraud Lawyer
If you have any questions regarding the handling of your account, call us today for a free initial consultation. We will evaluate your case and give you an honest, fair and critical assessment of your potential case. Contact Florida investment & stock fraud lawyer Gregory Tendrich for a free evaluation of your case.