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Investment Fraud Attorney in Illinois

Get Help from a Top-Tier Illinois Investor Rights Lawyer

At Mika Meyers, PLC, our Illinois investor lawyers are always prepared to put forward the time, resources, and attention to detail to help clients get justice and the maximum compensation. If you have any specific questions or concerns about a claim against a broker or investment advisor, we are here to help. Call us at (616) 632-8000 or connect with us online to arrange your free, fully private consultation with an attorney experienced in Illinois investment fraud and malpractice claims.

We Handle All Types of Investment Fraud Claims in Illinois

Are you an investor navigating any type of legal matter? We are here to help. Mika Meyers, PLC has the expertise and knowledge to help you. From more than 30 years, our firm has handled a wide array of cases investment fraud and malpractice cases, including:

  • Ponzi Schemes: Ponzi schemers procure investments under the pretense that the funds will be used for legitimate business activity, leading the investor to believe that the returns will come from the business’s profits, when in reality, the returns are paid with money deposited by new investors. The scheme typically involves the promise of high returns with minimal risk; however, investors can easily lose everything when the scheme collapses, either because of a lack of new investors or regulatory intervention. If you suspect you were the victim of a Ponzi scheme in Illinois, our experienced and dedicated Illinois Ponzi scheme attorneys are here to help.
  • Violations of the Illinois Securities Law of 1953: This statute applies to the sale of securities in Illinois and regulates the conduct of certain securities industry participants, including broker-dealers and investment advisors. Illinois investors can bring a variety of claims under the statute. For example, there is a private right of action for victims of misrepresentations and omissions in connection with the sale of securities. In addition, investments that were not registered or exempt from registration under the statute may be rescinded under the statute. Many fraudulent investments fall into this category. In addition to damages, an investor that prevails on a claim under the statute can recover attorneys’ fees and costs.
  • Regulation Best Interest: Under Reg BI, brokers have a duty to make investment recommendations that comport with their clients’ investment objectives and risk tolerance, and to otherwise act in their clients’ best interests. When investment advice is not aligned with the client’s unique investment profile, client’s may be exposed to excessive risk and losses, or other adverse results. If you suffered losses due to unsuitable investments in Illinois, the Illinois investment malpractice and negligence attorneys at Mika Meyers are here to help.
  • Breach of Fiduciary Duty: Registered Investment Advisors (RIAs) and brokers engaging in discretionary trading owe their clients fiduciary duties of loyalty, honesty, prudence, disclosure, and impartiality. The fiduciary standard of care and fidelity is the highest known to the law. A breach of fiduciary duty can happen through lack of prudence or care (negligence), conflicts of interest, or nondisclosure of material
    information. Our Illinois investor claims lawyers regularly bring breach of fiduciary duty claims on behalf of Illinois investors.
  • Securities Fraud: Investment fraud involves misrepresentation and omissions in the sale of securities, and other deceptive tactics in the financial markets, up to and including complete asset theft. We are well-versed in navigating complex investment fraud and malpractice claims. If you sustained losses due to any type of violation by a broker or broker-dealer, our Illinois securities and investment fraud lawyers are more than ready to help.
  • Unauthorized Trading: Unless a client specifically authorizes a broker to use discretion in managing an investment account, the broker must clear each trade with the client in advance. Failure to do so constitutes “unauthorized trading,” which violates securities regulations and Illinois common law. If you suffered losses due to unauthorized trades, our Illinois investor rights lawyers can help.
  • Selling Away: Financial advisors need authorization to “sell away” from the brokerage firm, i.e. to sell investments that are not approved by the firm following appropriate investigation and evaluation. Most selling away cases involve either fraudulent investments, or investments that are high-risk or otherwise unsuitable for most investors. If you suffered significant investment losses due to a financial professional’s improper selling away, our Illinois investor losses attorneys can help.
  • Excessive Concentration: It is never a good idea to overly concentrate your investments in a single asset or sector, unless you truly want to speculate and can afford to lose the entire investment. Diversification is crucial to managing investment risks, but financial advisors don’t always follow this basic tenet of investing. Our Illinois investor loss attorneys regularly prosecute excessive concentration (lack of diversification) cases.
  • Broker/Investment Advisor Claims: Losses stemming from a broker or investment advisor’s negligence may give rise to claims for money damages. If you suspect your broker or advisor’s lack of care or poor decision making may have caused you to suffer investment losses, call one of our Illinois investment malpractice and negligence lawyers for a free case review.
  • Churning (Excessive Trading): When brokers excessively trade in a client’s account to generate commissions, ignoring the client’s investment goals, it can cause an investor to suffer serious losses. It is an unethical and fraudulent practice that can quickly deplete an investor’s account. We handle excessive trading claims on behalf of Illinois investors.
  • Dodd-Frank Whistleblower Retaliation Claims: The Dodd-Frank Act provides protections for whistleblowers against retaliation when they report securities law violations to regulatory authorities. If you have blown the whistle on fraud or corruption in the investment industry or in connection with the sale of securities, and suffered retaliation as a result, our Illinois Dodd-Frank whistleblower rights lawyers can help.
  • Dodd-Frank Whistleblower Award Program: The Dodd-Frank Act created the SEC Whistleblower program. Under the program, eligible whistleblowers who assist the SEC in prosecuting a securities fraud enforcement action can be awarded between 10% and 30% of the amount recovered by the SEC. Our Illinois investment fraud attorneys can assist whistleblowers in presenting their information to the SEC in the manner most likely to get the SEC’s attention and trigger enforcement proceedings.
  • Class Action Claims: Class action claims provide a means for investors to collectively pursue compensation for securities fraud. We take all types of class action securities litigation cases in Illinois.

Why Investors in Illinois Rely on Mika Meyers

Are you an investor in Illinois involved in a dispute with your stockbroker or financial advisor?
The legal team at Mika Meyers, PLC is here to help. Our Practice Chair, Daniel J. Broxup JD,
CFA, is a securities arbitration and litigation attorney who has been selected as one of the “Best
Lawyers in America©,” a “Super Lawyer©” and received the highest rating for legal ethics and
ability by Martindale Hubbell. The firm has also recognized by leading publications for its top-
tier securities and investment fraud practice. We have a proven track record of successful case
results. When you contact us, you will have an opportunity to consult with an Illinois investment
fraud lawyer ready to:

  • Listen and understand your situation.
  • Guide you in how to proceed and answer legal questions.
  • Investigate and analyze your potential claims.
  • Develop a comprehensive strategy to help you get the best outcome.
  • When necessary, aggressively pursue securities litigation or arbitration.
  • Counsel you through settlement negotiations and/or mediation.
  • Represent you in trial or arbitration hearings, including hearings in the Financial Industry Regulatory Authority (FINRA), American Arbitration Association (AAA), and other leading forums.

Schedule a Free Consultation With Our Illinois Investment Fraud Lawyers Today

At Mika Meyers, PLC, our Illinois investor rights attorneys have the professional expertise that you can rely on. If you have any questions about your rights or your options, we are here to help. Call us now at (616) 632-8000 or contact us online to arrange a free, no-obligation case review. We fight for the rights of investors throughout Illinois, including in Chicago, Naperville, Aurora, Joliet, Waukegan, Elgin, Rockford, Springfield, Peoria, Arlington Heights, Champaign, and Des Plaines.

Investor Rights in Michigan: Frequently Asked Questions (FAQs)

What Should I Look for in an Illinois Investor Rights Lawyer?

Knowledge, skills, experience, and a willingness to devote time and resources to your case. Securities law is complicated. You need an attorney who is familiar with both state and federal investment law and regulations. Our Illinois investor rights lawyers are standing by, ready to protect your rights and help you get justice.

Will I Be Required to Arbitrate My Claim Against My Financial Advisor?

It is possible. Most brokers and advisors require customers/clients to sign an agreement with a pre-dispute arbitration clause. Cases against broker-dealers and their registered representatives take place in the FINRA Dispute Resolution forum. Cases against advisors can take place in national forums like AAA and JAMS, or in private proceedings before a mutually acceptable arbitrator. If your agreement with your broker includes an arbitration clause, you will likely be required to arbitrate your claim. Arbitration is a private process where an arbitrator or a panel makes a decision on the dispute. However, if there is no arbitration clause in your agreement, you may have the option to bring your claim in court.

Do I Bring a Claim Under Federal Law or State Law (Illinois Law)?

It could be either. The sale of securities and the securities industry as a whole in Illinois are regulated by a combination of state law and federal law. If you have any specific questions about your case, our Illinois investor rights lawyer can help.

What is the Deadline to Bring a Claim as an Investor in Illinois?

It depends. The statute of limitations varies for different types of claims. For example, most federal securities fraud claims must be brought within 2 years after the investor discovered, or reasonably should have discovered, the facts giving rise to the claim, and no more than 5 years after the unlawful acts or omissions giving rise to the claims.

What is the Deadline for Bringing a FINRA Arbitration Action?

To file a claim in FINRA arbitration, an investor must bring the claim within the eligibility period, which is six years from the act or omissions giving rise to the claim. It is important to understand that FINRA’s eligibility requirement is different to the statute of limitations. Thus claims that meet the eligibility requirement can potentially still be denied or dismissed if they are outside the statute of limitation applicable to the claim. Accordingly, investors should not delay in bringing an action. Prompt action can be the difference between getting compensated or not.

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