Investment and Stock Broker Fraud Attorney
Increase in Securities Fraud
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Editor: Kristian Rasmussen
Profession: Investment Fraud Lawyer
Category: Investment Fraud News
In the last twenty years, there has been a large increase in investment and stock broker fraud in the securities industry. Since The U.S. Supreme Court has remanded all such securities fraud lawsuits to mediation or arbitration, most complaints now go to the National Association of Securities Dealers (NASD), the New York Stock Exchange (NYSE), or the American Arbitration Association (AAA).
It is estimated that nearly 7,000 securities-related arbitrations were filed with the NASD in 2001, a twenty-four percent increase over 2000. Through September 2001, 2,317 suits cited a breach of fiduciary duty.
Nearly 3,000 cases were filed for common stock violation claims. NASD plaintiff awards through September 2001 exceeded $75 million. However, these figures may be somewhat distorted as many complaints were settled outside of the arbitration process.
If you believe your investment advisor or financial management firm has acted unethically or irresponsibly with your investments, please contact our firm using the form at right.
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