Legally speaking, a broker’s wrongdoing will generally fall into one or more of four broad categories of formal legal claims — fraud, negligence, breach of fiduciary duty, and/or breach of contract — which are recognized under the law and which an experienced securities attorney can help you identify.
The actual wrongdoing itself, however, can take any number of forms, which you should be able to identify on your own, without an attorney. If you think your broker has done something wrong, then you already must have some idea of what that wrongdoing is. Did your broker recommend an investment that was unsuitable for you? Did he or she fail to disclose the risks of your investment? Did he or she steal from? It’s as simple as that. Once you have identified the wrongdoing, a securities attorney can help you determine which legal claim or claims that wrongdoing might support and then help you to prepare a formal complaint setting forth your claims.
Following are some of the more common forms of broker wrongdoings that will typically support a legal claim:
- Broker Misrepresentations and Omissions
- Excessive Trading, Churning, or Twisting
- Excessive Use of Leverage and Margin
- Over-Concentration and Failure-to-Diversify
- Ponzi Schemes
- Selling Away
- Unauthorized Trades
- Unsuitable Investment Recommendations
If you think you might be the victim of broker wrongdoing, contact Jacobson Law P.A. to discuss the specific facts of your case. We can help you determine whether you have any legal claims and whether you could be entitled to recover damages.