Texas Attorney General Ken Paxton.
From Vancouver, Canada, to the New York Stock Exchange, these names are known for their alleged securities fraud cases. And while a securities fraud attorney who represents the biggest names in the biggest cases may also become familiar to the news reading public, a lesser known securities fraud attorney may be the name you seek if you are facing threat of lawsuit or are looking to hold someone accountable for their questionable financial advice.
And while the odds are that you have heard of Bernard Madoff, you may not know about the lesser securities fraud cases that the less wealthy segment of America might find themselves in. No less illegal than the infamous investment manager Madoff who enjoyed an illustrious career on Wall Street, other stock advisors have also been charged wtih crimes and forced to pay penalties for their misleading financial advice.
Madoff reached the point of serving as the chairman of the NASDAQ stock exchange at one point, but his December of 2008 arrest for operating the largest Ponzi scheme in history confirmed to the public that even the top advisors are not immune from charges. The fact that Madoff?s victims collectively lost nearly $20 billion and that Madoff is currently serving a 150-year prison term is an indicator that even the highest financial names must follow the financial rules that are in place. A securities fraud lawyer does not need to chase a name as big of Madoff to help his or her clients regain funds from jaded or slanted advice that they have been given.
Law firms are often grouped according to their specialties. And while one firm may include a list of names that represent everything from personal injury lawyers to probate and estate administration legal experts, many times clients are looking for a team of attorneys who specialize in a specific legal area.
If, for example, you find yourself seeking relieve and repayment for illegal financial advice, you may want to look for a legal firm that only deals with securities fraud and other stock market investment abnormalities.
Consider these statistics to understand the importance of finding a reputable securities fraud attorney:
- 633 corporate fraud pending cases were filed in 2014.
- 1,639 securities and commodities fraud pending cases were filed in 2014.
- 26,823 securities brokerages existed in the U.S. as of 2015.
The vast number of securities brokers indicate that it is a very profitable field. Even if the majority of these firms are offering sound financial advice, the remaining minority of these firms may be administering illegal advice for their own gains. Many financial analysts, however, indicate that it is more than the minority who may be offering advice that profits them, not their clients.
Securities fraud includes both stock fraud and investment fraud. It is a deceptive practice in the stock or commodities markets that often encourages investors to make purchase or sale decisions on the basis of information that is false or misleading. These fraudulent recommendations frequently resulting in losses and are also in violation of securities laws. Potential clients who think that they are the victim of securities fraud may need to seek the advice of an attorney or a team of legal financial experts.