Frequently Asked Questions

Do I Have a Case?

If your investment accounts have been mishandled by a financial advisor or an investment firm, you may be able to recover damages for your losses. Contact J. A. Schultz for a free initial consultation

Should I Sue Brokers in Court or Go to Arbitration?

It is likely that the agreement you signed with your brokerage firm requires that you arbitrate disputes with the Financial Industry Regulatory Authority (FINRA), a not-for-profit organization that oversees U.S. broker-dealers by act of Congress. Such arbitration is generally less costly and quicker than suing in court. However, no depositions are made and discovery is limited.

You may sue in court if you are dealing with an investment advisory firm, which falls under the purview of the Securities and Exchange Commission (SEC).

When Should I File a Claim?

You have 6 years from the disputed occurrence or event to file a claim.  This six-year eligibility rule is a requirement in the  FINRA Code of Arbitration.

How Long is the Arbitration Process?

FINRA arbitration usually takes about a year to a year and a half, once the claim is filed. Decisions are issued up to a month after the last hearing. Decisions are binding on appeals are granted only under rare circumstances.

How Can WE Help?

An experienced securities attorney gives you your best chance to make things right.  Your securities attorney may take the following steps in investigating and litigating your case:

  • Analyze your financial statements to determine if fraud occurred.
  • Work with experts to calculate the extent of your damages and testify to the fraud.
  • File a Statement of Claim with FINRA describing your broker or advisor’s improper actions.
  • Use the discovery process to access relevant documents, providing evidence to prove your claim, and submitting said evidence to FINRA.
  • Represent you and your interests at FINRA hearings.

Can I Afford Legal Representation?

Yes. These cases are handled on a contingency-fee basis, which means there are no legal fees unless there is a settlement or an award. Contact us today.