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Sunrise Securities Fraud Lawyers – Your Guide to Finding the Right Attorney
Securities fraud can be extremely complex and overwhelming to navigate. If you are located in or around Sunrise, Florida and believe you may be the victim of securities fraud, having an experienced attorney on your side is crucial. This article will provide an overview of securities fraud issues in the Sunrise area, what to look for in a securities fraud lawyer, and how to go about finding the right one for your specific case.
What Constitutes Securities Fraud?
Securities fraud refers to deceptive practices in connection with the buying and selling of investment vehicles like stocks, bonds, and other securities. Some common examples include:
- Misrepresentations or omissions of material facts – This could involve a broker or firm providing false or misleading information to investors about the value or profit potential of a security. For instance, inflating earnings reports or failing to disclose risks.
- Insider trading – When someone like a corporate officer or director trades stock based on non-public knowledge that will impact the stock price once revealed. This gives them an unfair advantage.
- Pump and dump schemes – Where stock is artificially inflated through false or misleading positive statements, allowing perpetrators to sell their shares at the inflated price before the stock crashes.
- Churning – When a broker engages in excessive trading solely to generate more commissions without concern for what is actually in the client’s best interests.
Securities fraud can occur during the initial issuing of securities or in secondary market trading. It involves intentionally deceiving investors for unlawful financial gain.
Recent Sunrise Securities Fraud Cases and Issues
Sunrise and the surrounding South Florida area have seen their fair share of securities fraud over the years. Some notable recent cases include:
- In 2010, Sunrise Senior Living Inc. settled SEC charges that senior executives engaged in a multi-year scheme to inflate earnings through fraudulent accounting practices. This involved things like misclassifying expenses and failing to record losses on impaired assets.
- The massive Scott Rothstein Ponzi scheme that came crashing down in 2009 was based in Ft. Lauderdale. While not a pure securities fraud case, Rothstein sold fraudulent legal settlements as investments and owes investors over $1 billion. Many lost their life savings.
- South Florida has also seen issues with broker overconcentration and churning, particularly involving elderly investors. For example, a Sunrise broker was barred by regulators in 2016 for excessive trading.
These types of cases highlight why it is so important to have an experienced securities fraud attorney if issues arise. The laws can be complex and the financial interests at stake make it imperative to get competent legal representation on your side quickly.
What to Look for in a Sunrise Securities Fraud Lawyer
If you have potentially suffered losses from the types of securities fraud issues discussed above, what qualities and credentials should you look for when choosing a lawyer?
Specialized Experience and Focus
Not all attorneys have in-depth securities litigation experience. Look for lawyers that specialize and focus a majority of their practice on these types of cases. They will have greater familiarity with the complex web of state and federal laws, investigative agencies, and legal precedents involved.
For example, attorney Darren Blum primarily handles broker fraud and SEC investigation defense work. He served 12 years with FINRA and the SEC prior to going into private practice. This background gives him valuable insight.
Resources to Pursue Big Cases
Major securities fraud cases often involve lengthy investigations and litigation against powerful financial interests with seemingly endless resources. Choose a law firm with the financial wherewithal to stand toe-to-toe if necessary.
Miami-based firm Levi & Korsinsky successfully litigated the Sunrise Senior Living class action and has taken companies like Citigroup and Fannie Mae to task. Large firms have the personnel and coffers needed for big cases.
Client-Focused and Compassionate Approach
Finally, securities fraud can financially and emotionally devastate victims. Prioritize lawyers that seem genuinely focused on their clients, not just the legal matters at hand. Firms that offer free consultations and make themselves accessible are good signs.
For example, attorney David Chase pledges “exceptional counsel and advocacy” focused on client needs. An empathetic, client-first approach brings extra value on top of legal skills.
Finding the Right Securities Fraud Lawyer for You
If you feel you have been defrauded and lost money in securities dealings, here are some steps to find the right lawyer:
- Consult attorney rating services – Websites like Justia and Avvo allow you to browse profiles, experience levels and client reviews.
- Check credentials & disciplinary history – Verify any lawyer is licensed and in good standing using the Florida Bar and FINRA BrokerCheck sites.
- Schedule free consultations – Most firms offer free case evaluations and legal guidance. This lets you gauge their experience with cases like yours and the approach they would take. Come prepared with documents.
- Compare service models & fee structures – Understand options like contingency fees, hourly rates, and flat fees. This affects overall cost and the firm’s stake in outcomes.
- Go with your gut – The right attorney-client relationship hinges on trust and communication styles meshing. Take your time and choose someone you feel truly comfortable with.
Securities fraud cases demand vigilance and tenacity to produce satisfactory outcomes for victims. Hopefully this guide gives you a head start in finding an attorney up to that task for your specific situation. Let their experience work for you while you focus on recovery and peace of mind. Best of luck resolving your case.