Investment Fraud Attorneys in Detroit, Michigan

For over three decades, Mika Meyers, PLC’s investor lawyers have been helping victims of investment fraud and malpractice in the Detroit area to recover their investment losses. The lawyers in our securities litigation and arbitration practice group have the specialized knowledge, skill, and experience needed to take on the big Wall Street firms and win. We handle all types of investor claims against investment advisors and stock brokers, so contact us today if you have suffered investment losses due to fraud or negligent advice. You will receive a free, confidential consultation with a top-rated Detroit investment loss attorney.

Here Are Some of the Common Investment Loss Claims we Handle for Detroit Investors

Mika Meyers, PLC has a proven-track record of success spanning 30 years when it comes to representing investors against dishonest and negligent financial advisors. We have experience representing Detroit investors in state and federal court, as well as FINRA and AAA arbitration proceedings. Some of the common claims we handle to recover investment losses, include:

• Securities Fraud: When a financial advisor induces an investor to purchase or sell securities through misrepresentations or omissions, or through other acts of deceit or dishonesty, the investor may have a claim against the advisor for securities fraud. To prevail on such a claim, the investor has the burden of proving that the advisor’s misrepresentations or omissions were intentional or reckless. In addition, the investor must prove that he or she reasonably relied on the advisor’s misrepresentations or omissions. If you are a Detroit-area investor with questions about a possible securities fraud lawsuit, call Mika Meyers now for a free, no-obligation consultation with one of our knowledgeable and experienced investment fraud lawyers.
• Violations of the Michigan Uniform Securities Act (2002): Many states, including Michigan, have adopted the Uniform Securities Act, which provides investors with claims for various types of fraud and misconduct in connection with the sale of securities. Among other things, the MUSA creates civil causes of action against brokers who sell unregistered non-exempt securities, and against brokers who are not licensed to sell securities in the state. An investor who prevails on such a claim is entitled to recover the amount of their investment together with reasonable attorneys’ fees and costs.
• Regulation Best Interest: The Securities and Exchange Commission promulgated Regulation BI in 2019 to raise the standard of care that stockbrokers owe to retail investors. Prior to Regulation BI, the standard of care was set forth in FINRA’s suitability rule. The suitability standard proved inadequate to protect investors because brokers could meet the standard by recommending suitable, but suboptimal investments that resulted in higher commissions than the optimal alternative. To meet the requirements of Regulation BI, financial advisors’ recommendations must comport with their clients’ best interests. If you have suffered investment losses due to unsuitable investment recommendations, call our team of Detroit investment loss attorneys now.
• Breach of Fiduciary Duty: A fiduciary relationship exists when a person reposes trust and confidence in another to perform a service. Fiduciaries owe their clients duties of honesty, loyalty, prudence, care, and disclosure of all material information. An investment advisor stands in a fiduciary relation to his clients. A broker who controls investment decisions for a client is also a fiduciary. If you have suffered losses due to a breach of fiduciary duty, our Detroit investor rights lawyers have the knowledge and expertise to help you recover your losses.
• Ponzi Scheme Losses: In a Ponzi scheme, investors are led to believe that they are investing in a legitimate business or investment fund when in reality the promoter is robbing Peter (new investors) to pay Paul (earlier investors), and usually siphoning off a portion of the funds for personal use. If you are concerned that you may be the victim of a Ponzi scheme, call our Detroit investment fraud lawyer today for a free, no-obligation consultation.
• Unauthorized Trading: Unless a customer signs an agreement giving a financial advisor discretionary trading authority, the advisor must obtain the customer’s prior consent for each trade. Failure to do so is a violation of securities laws and regulations. If you have questions about unauthorized trading in your account, contact one of our Detroit investment fraud lawyers for a free, no-obligation consultation.
• Churning: Churning occurs when a broker excessively trades securities in a client’s account for the primary purpose of generating commissions for the broker, rather than benefitting the client. The practice is prohibited by securities laws and regulations. An egregious example of churning, known as “in and out” trading, involves trading in and out of the same security to generate unnecessary commissions. We help Detroit investors who have suffered losses from churning.
• Selling Away: Selling away is when a broker sells a security that is not approved for sale by the firm that carries the broker’s license. It is a violation of FINRA rules. In most cases of selling away, the broker never requests that the firm approve the investment. Other times, a request is made, but denied by the firm. If you have suffered losses from selling away, our Detroit investor rights attorney is here to help.
• Excessive Concentration: Investment advisors are generally responsible for ensuring that their client’s investment portfolios are well diversified across asset classes, economic sectors and regions, and issuers. By diversifying in this manner, investors can eliminate non-systemic risk, without reducing expected returns. When a portfolio is overweighted in an individual stock or economic sector, there is an increased risk of catastrophic loss from a sector- or company-specific event. If you have suffered investment losses due to overconcentration, call our Detroit investor loss attorney now.
• Dodd-Frank Whistleblower Retaliation Claims: Under the Dodd-Frank Act, an employer that retaliates against an employee for reporting a securities law violation by the employer can be held civilly liable for damages and other relief. Retaliation includes all kinds of adverse employment action, including termination, demotion, or harassment.
• Dodd-Frank Whistleblower Award Program: Under the Dodd-Frank Whistleblower Award Program, the SEC can issue a reward to a whistleblower whose information contributes to a successful SEC enforcement action. A reward can range from 10 percent to 30 percent of the monetary penalties collected by the SEC.
• Class Action Securities Claim: A securities class action is a lawsuit filed on behalf of similarly situated investors who have suffered investment losses due to securities fraud. The class-action procedure is often used when the individual claims are too small to pursue in separate lawsuits.

Why Rely on Our Detroit Investment Loss Attorneys

The securities litigation and arbitration attorneys at Mika Meyers are recognized as “Best Lawyers in America©” and “Super Lawyers©” by leading industry publications. Practice group chair Daniel J. Broxup, JD CFA, is also rated AV-preeminent by Martindale-Hubbell. He has helped hundreds of investors across the nation recover investment losses, including in Detroit. You can view some of our case results here.

When you hire the securities and investment fraud attorneys at Mika Meyers to handle your case, you’ll get the unrivaled representation. Among other things, our attorneys will:

• Learn about your situation, and ask and answer your questions.
• Investigate your potential claims and help you gather relevant evidence.
• Develop a plan and strategy that focuses on maximizing your recovery.
• Bring claims on your behalf in securities litigation or arbitration proceedings.
• Guide you through settlement negotiations or mediation.
• Zealously represent you in trial, or arbitration hearings.
• Do everything possible to help you recover what you’ve lost.

Contact Our Detroit Investment Loss Lawyers Today

At Mika Meyers, PLC, our Detroit investor attorneys have the experience, knowledge, skill, and expertise that you need to recover your investment losses. If you have any questions about a claim against a financial advisor, call now at (616) 632-8000 or connect with us online to schedule your free, confidential case review. Our firm represents investors throughout Metro Detroit and surrounding communities, including Birmingham, Bloomfield Hills, Bloomfield Township, Auburn Hills, Pontiac, Clarkston, Fraser, Ferndale, Utica, Troy, Farmington Hills, Farmington, Sterling Heights, Hazel Park, Highland Park, Hamtramck, Eastpointe, Clawson, Southfield, Saint Clair Shores, Royal Oak, Roseville, Beverly Hills, Berkley, Rochester Hills, Clinton Township, Oak Park, Madison Heights, Grosse Pointe Woods, Grosse Pointe Farms, Grosse Pointe Park, Macomb Township, West Bloomfield, Warren, Dearborn, Brighton, Ann Arbor, Mount Clemens, Flint, Adrian, Monroe, Novi, Lake Orion, Millford, Northville, Plymouth, Canton, and Commerce Township.