23 Mika Meyers’ Attorneys Listed in Best Lawyers

Read More

Investment Fraud Attorneys in Pennsylvania

Our Firm Protects and Enforces the Rights of Investors in Pennsylvania

Mika Meyers, PLC’s Pennsylvania investor attorneys are skilled, experienced advocates who go the extra mile to help Pennsylvania investors recover losses from financial advisor fraud and negligence. If you have any questions about your rights or options, our team is here to help. Call us at (616) 632-8000 or contact us online for a free, confidential consultation.

Our Firm Handles Securities Fraud Litigation and Arbitration in Pennsylvania.

Mika Meyers, PLC enforces the rights and interests of investors in Pennsylvania who have experienced investment losses from financial advisor fraud and malpractice. With more than three decades of experience, we are equipped to take on the entire spectrum of investor claims, including:

  • Investment/Securities Fraud: We are available to represent Pennsylvania investors who have suffered investment losses because of securities fraud. To prevail on a securities fraud claim, the investor must prove that the defendant’s misrepresentations or omissions induced the investor to purchase or sell a security or a series of securities. Sometimes the defendant is the issuer of the securities, or an agent of the issuer. In other cases, the defendant may be a stockbroker or investment advisor who recommended the securities. In either case, the misrepresentations can be written or oral. Have you suffered investment fraud losses in Pennsylvania? Contact our Pennsylvania investor lawyers for a free case review.
  • Violations of the Pennsylvania Securities Act: This statute, also known as the Pennsylvania Securities Act of 1972 governs aspects of the investment industry in Pennsylvania. The statute provides Pennsylvania investors with a civil cause of action against an issuer or broker who engages in deceptive acts or practices in connection with the sale of securities. The statute also imposes liability for sales of unregistered nonexempt securities, and the sale of securities by unregistered brokers or agents. In addition to damages or rescission, investors have the right to recover their attorneys’ fees and costs from the defendant.
  • Regulation Best Interest: Under Regulation Best Interest promulgated by the SEC, stockbrokers must act in the best invests of their clients when making investment recommendations or otherwise providing services to clients. Under the predecessor suitability rule (FINRA Rule 2111), an investment recommendation could be suitable even if a superior product was available at half the price, as long as the recommended investment was generally suitable for the client. This standard inevitably led brokers to steer their clients to suboptimal investments that paid higher commissions and fees. If you are a victim of a Reg BI violation, our team of Pennsylvania investor attorneys are here to help.
  • Breach of Fiduciary Duty: The fiduciary standard of care and fidelity applies to investment advisors and brokers who have discretionary trading authority over their client’s account. As fiduciaries, these financial professionals owe their clients the duties of prudence, care, trust, loyalty, impartiality, and disclosure. When brokers or advisors betray the trust of their clients, or fail to make prudent investment decisions, they can be held liable for breach of fiduciary duty.
  • Ponzi Schemes: A Ponzi scheme is when a fictitious business relies on funds deposited by new investors to make payments to the earlier investors. The operators “rob Peter to pay Paul” because there are no legitimate business activities being carried out to generate profits. Ponzi scheme operators will often keep a portion of the new investments for themselves to fund a lavish lifestyle. When the stream of new investors runs dry, the scheme collapses, and investors are left to face the realization that some or all their investment is lost. Our Pennsylvania Ponzi scheme lawyer can help you seek justice and compensation.
  • Unauthorized Trading: Unauthorized trading is when a broker places a trade on behalf of a client without the client’s prior permission. A client can give a blanket authorization for the broker to exercise discretion, but in all other cases, the broker must get specific approval for each trade. If you have suffered losses due to unauthorized trading in the state of Pennsylvania, our Pennsylvania investment loss attorneys are ready to help.
  • Churning (Excessive Trading): Churning is when a broker excessively trades securities in an account for the primary purpose of generating commissions for themselves, and in disregard of the client’s best interests. One egregious form of churning, known as in-and-out trading, involves a broker repeatedly selling then repurchasing the same stock, generating unnecessary commissions in the process. In all cases of churning, money is effectively being transferred from the client to the broker without any corresponding benefit going to the client.
  • Selling Away (Private Securities Transactions): A broker engages in selling away by selling securities that his brokerage firm has not approved for sale. Selling away often involves high-commission products, and in some cases the issuer is operating a Ponzi scheme or other fraudulent investment scheme. Selling away is a violation of securities regulations. Firms are required to monitor their employees to detect and prevent selling away. If you have suffered losses in investment that your broker was not approved to sell, our experienced investment fraud and negligence attorneys are ready to talk to you.
  • Excessive Concentration: Excessive concentration is when a person has too much of their investment portfolio in a single asset or sector. If the concentrated holding performs poorly, the whole portfolio is dragged down. In a diversified portfolio, losses in one investments can be offset by gains in other areas of the portfolio. If you have any questions about excessive concentration, please contact our Pennsylvania investor attorney today.
  • Dodd-Frank Whistleblower Rights: The Dodd-Frank Act protects securities industry whistleblowers against retaliation by their employers, and rewards qualifying whistleblowers whose information leads to a successful SEC enforcement action.
  • Class Action Securities Litigation: A class action securities claim is when a group of investors join to pursue a common claim for fraud.
Why Investors in Pennsylvania Count on Mika Meyers?

Are you an investor who sustained losses due to the negligence or misconduct of your financial advisor in Pennsylvania? The securities litigation and securities arbitration team at Mika Meyers, PLC can help. Practice Chair Daniel J. Broxup JD, CFA, has been selected as one of the “Best Lawyers in America”© by U.S. News and World Report. With a proven record of case results in complex claims, we always take a proactive approach. Among other things, our Pennsylvania investment fraud lawyers are ready to:

  • Listen to what you have to say and answer securities law questions.
  • Thoroughly investigate your case, gathering documents, records, and evidence.
  • Develop a personalized strategy to help you get the best possible outcome.
Contact Our Pennsylvania Investment Losses Attorney for a Confidential Consultation

At Mika Meyers, PLC, our Pennsylvania investor rights lawyers have the professional expertise that you can trust. Have any questions about your legal options? Call us now at (616) 632-8000 or contact us online to arrange your free, no-commitment consultation. We represent investors throughout the Commonwealth of Pennsylvania, including in Philadelphia, Pittsburgh, Allentown, Erie, Scranton, Lancaster, Bethlehem, Harrisburg, Wilkes-Barre, Altoona, and Williamsport.

Investor Rights in Pennsylvania: Frequently Asked Questions (FAQs)

I Want to Bring a Claim Against My Broker—Should I Get a Lawyer?

Yes. As an investor, your rights are protected through a comprehensive web of federal and state regulations. Without the assistance of a knowledgeable attorney, it can be difficult to bring a claim against a broker or investment advisor. You do not have to take on the process alone. Be proactive: consult with an experienced Pennsylvania investor losses attorney right away.

How Does FINRA Arbitration Work?

FINRA Dispute Resolution is a forum for resolving disputes between investors and their stockbrokers. It is administered by the Financial Industry Regulatory Authority—a self-regulatory body that oversees the securities broker-dealers. The process begins when you file a Statement of Claim and will end with a settlement or a ruling by the arbitrators.

What Law Protects Investors—Federal Law or Pennsylvania Commonwealth Law?

Investors are protected by both federal securities laws and Pennsylvania state laws. Federal laws—including the Securities Act of 1933 and the Securities Exchange Act of 1934—establish nationwide standards. Beyond that, Pennsylvania also has its own state-level securities laws and regulations. An attorney can help you determine the best course of action for your specific case.

How Long is the Deadline to Bring a Claim?

The statute of limitations will vary based on the cause of action. To bring a claim in FINRA arbitration, you will generally have six years to act, or your claim will be deemed ineligible for arbitration. However, the claims may also be subject to statutory limitation periods. For example. most federal securities fraud cases are subject to a two-year statute of limitations, which starts running on the date that the investor knew or should have known about the fraud, and a 5-year statute of repose, which runs from the date of the events fiving rise to the claim.

Let’s start a partnership worth keeping.