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Broker Fraud, Negligence, & Misrepresentation
Lawsuits
(Texas Loss of Retirement, Investment Fraud, and
Negligence Lawyer)
It is an all too common scenario, a
person hires an investment firm or broker and follows their stock
broker's recommendations, trusting this broker's expertise
with their life savings or a substantial amount of money.
Unfortunately, the stocks that the broker selected have
plummeted, the brokerage firm's CEO is all over the news defending his
company against allegations of securities fraud, and the
life savings of numerous investors are lost. Unfortunately,
tens of thousands of investors have been a victim of broker
and financial planner
fraud and negligence.
If you have
lost your life savings or a large amount of money through
misappropriation of funds by a broker including broker fraud, broker
negligence, careless investment
advice, deceptive investment advice,
inadequate risk warnings, churning, or other
unethical broker wrongful acts, feel free to submit an
inquiry or
send an e-mail to Texas broker fraud lawyer Jason Coomer.
He may be able to help you recover your losses or at least
obtain an accounting of the investments.
Stock Brokers Hold a Monopoly
on Stock Investments
Investment
is the driving force of a business economy and allows a
pooling of money and resources which businesses can use to invest in large
capital ventures. Early stock markets through
investment in the United States helped build the railroads
and develop the United States. Since early development
of the stock markets, periods of wide spread fraud, investor
panics, and government regulation have led to many reforms
that now protect investors from fraudulent practices.
However, with new technology, market fluctuations, and some
dishonest or desperate brokers, have come new and different
types of investment fraud.
A stock broker sells or buys stock
on behalf of a customer. The stock broker works as an agent
matching up stock buyers and sellers. A transaction on a
stock exchange must be made between two members of the
exchange — a non stock broker may not walk into the New York
Stock Exchange and ask to trade stock. Such
an exchange must be done through a broker.
A broker does not need a college degree,
but most brokers have one. Brokers, however, do have to be
licensed. A license is obtained by passing the General
Securities Registered Representative Examination and, in
many cases, posting a bond. Individuals may take this test
after they have been employed by a brokerage firm for four
months. Texas requires dealers and investment advisers to
take the Uniform Securities Agents State Law Examination and
pass with a passing score of at least 70%.
Fraudulent Broker Claims and Investment Fraud
Lawsuits
Recent decisions by the
Securities and Exchange Commission (SEC) imposed over $1.4
billion in penalties on several top investment banks,
brokerage firms, and brokers. As such, it is apparent
that you cannot always trust brokers to give you the
complete picture regarding
stocks, bonds, and other securities. If you feel that
your investment dealer or adviser has not been honest and
has caused you to suffer significant investment losses, your best bet to recover
your losses from investment fraud or
securities fraud losses is to speak to an experienced broker
fraud lawyer
regarding your stock fraud concerns.
In reviewing
stock broker fraud, an investor should know that
investing in the stock market can be a risky proposition.
Markets and investments can fluctuate and the majority of
investment losses result from such fluctuations rather than
from stock broker fraud or misconduct. However, stock fraud
does happen, and you should understand common forms of stock
broker misconduct. Some of the most common forms of broker
fraud are as follows:
-
Churning
-
Excessive Trading
-
Unsuitable Investments
-
Misrepresentation
-
Purchase of Unsuitable Securities
-
Investing in Variable
Annuities/Variable Universal Life Policies
-
Risky or negligent Retirement
Planning
-
Unauthorized Trading
-
Failure to Advise of Risky
Investments
-
Unauthorized Risk Profile Changes
Stock brokers are paid commissions for
the transactions they generate, which can encourage some
stock brokers to trade excessively or churn stocks for the
purpose of generating commissions instead of working for
their client's investment goals.
Churning is
essentially a form of excessive trading for the purpose of
generating commissions for the broker's benefit.
In addition to actually trading stocks
for their clients, stock brokers may also offer advice to
their clients on which stocks, mutual funds, etc. to buy.
This can be problematic if the broker encourages an investor
to purchase unsuitable investments or misrepresents the risk
or potential pay out of an investment. It also can be
problematic when a broker encourages the purchase of
unsuitable securities including variable annuities, variable
universal life policies, or viaticals. This is especially
true if the broker is encouraging investment with funds that
will be need for retirement.
Brokers are required to gain authority or
permission from their clients before they conduct any
transaction on the client's behalf. When brokers act without their
client's consent, this is considered
unauthorized trading. If
your broker is buying or selling stocks on your behalf
without your permission, or you believe that any of the
other above abuses have been committed, feel free to contact
Texas broker fraud lawyer, Jason Coomer for an investigation
of a broker fraud claim.
If your retirement
savings or other securities investments have
suffered substantial losses, generally fifty percent
(50%) or more, due to mismanagement, mishandling or
misconduct on the part of your broker or financial
professional, then you may want to speak to Jason
Coomer a Texas
investment fraud lawyer to determine if your broker
has committed fraud or negligence that has contributed to
your losses.
Unfortunately, with the pooling of large
amounts of money in pension funds, retirement funds, stocks,
mutual funds, bonds, derivatives, commercial real estate,
and other investments comes the danger of fraudulent investment scams
and broker negligence that
can take a person's life savings. If you have
lost your life savings or a large some of money through
misappropriation of funds, please feel free to
submit an
inquiry or
send an e-mail to Texas
broker fraud lawyer Jason Coomer.
He may be able to help you recover your losses or at least
obtain an accounting of the investments.
Texas Fraudulent Broker Lawyer, Texas Boker
Negligence Lawsuits, and Texas Investment Fraud Lawyer Austin
broker fraud Attorney, Jason Coomer helps investors
that have lost money through wrongful acts of majority
shareholders, corporate officers, and brokers. He reviews
investment strategies, accounting records, corporate actions, and investor trading; negotiates
settlements; and if
necessary files claims against negligent or fraudulent
brokers. Austin
Texas
Business Lawyer, Jason Coomer is an experienced business
litigation attorney that handles investment fraud,
shareholder actions,
commercial real estate
law, computer law,
ponzi scheme claims, and
other business litigation.
His office frequently works with other professionals
including Houston Investment Fraud Lawyers, Dallas
Broker Fraud Lawyers, San Antonio Investment Fraud
Lawyers, and other Austin Investment Fraud Lawyers to
provide high end professional legal services at reasonable
prices.
Texas broker fraud lawyer, Jason S. Coomer, helps
business investors protect their assets and negotiate
with negligent brokers and brokers that have committed investment
fraud.
If you need an Austin Texas Broker Fraud attorney or an
Austin broker negligence lawyer to advise you on a Texas
investment fraud claim,
contact Austin Texas
investment fraud lawyer Jason Coomer.
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