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Broker Misconduct

Broker fraud and negligence generally falls into two categories (1) self-dealing and (2) failure to make suitable investment decisions for a customer.  Claims involving broker misconduct are typically arbitrated before the Financial Industry Regulatory Authority (“FINRA”).  The most common claims that we have seen involve misrepresentation and omissions, unsuitability, overconcentration, churning, failure to execute trades, failure to supervise, breach of promise/contract, and breach of fiduciary duty. 

The rules, regulations and standards governing securities transactions are complicated.  Consequently, a variety of abusive and unsuitable conduct may be occurring or may have occurred in your brokerage account without you having the slightest notion that wrongdoing may have taken place.  Glancy Prongay & Murray’s investment fraud attorneys have substantial experience and knowledge representing investors who have lost money due to the negligence and misdeeds of their stockbrokers and financial advisors and the failure to supervise by their broker-dealers.

Court Recognition

“And without question, the Court is of the opinion that the value of benefit that’s been conferred to the class is extremely sizable and that this Court is certainly aware that the skill and efficiency of plaintiff’s counsel is what attributed to this settlement, and they are learned securities counsel. The Court is mindful of that, and as a result they were able to sort of weed their way through the complex issues in this case, and also to bring this about — bring about a settlement rather in short order as these matters go. So the Court certainly attributes that to counsel’s skill and efficiency, as well as the ability to work with the adversaries in this matter.”

–Hon. Susan D. Wigention, U.S. District Judge, District of New Jersey

“Class Counsel has conducted the litigation and achieved the Settlement in good faith and with skill, perseverance and diligent advocacy”

— Hon. Donovan W. Frank, U.S. District Judge, District of Minnesota

“The court finds that the Settlement Fund… created by Class Counsel is an exceptional result… The settlement is significantly above the average securities class action settlement when measured as a percentage of losses recovered… The court finds that Class Counsel, particularly Co-Lead Counsel, exerted tremendous effort on behalf of the class in the prosecution of this action… The Court finds that Class Counsel skillfully prosecuted this action, particularly given that this case was unusually complex relative to most securities fraud class actions. ”

–Hon. Dickran M. Tevrizian (Ret.), U.S. District Court Judge, Central District of California

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