California Securities Fraud Attorneys
At the Law Offices of Woosley & Porter, our dedicated and accomplished securities negligence and securities fraud attorneys are well-versed in securities law and securities arbitration. We have recovered millions of investments dollars for our clients.
We Have Recovered Millions of Investment Dollars for Our Clients
In order to buy or sell a single share of stock, invest a single dollar in a mutual fund, or even open a money market account, an investor is required by his or her broker to sign an arbitration agreement:
- Waiving the right to have your case decided in court
- Waiving your right to a jury trial
- Waiving your right to appeal
- Waiving the right to have California law applied to your case
- And agreeing to have your case decided by an arbitration panel that includes an arbitrator currently or recently working in the securities industry
With all of these obstacles standing between your broker’s wrongdoing and your losses, you need the best legal representation possible.
For over 15 years, our knowledgeable and experienced attorneys at the Law Offices of Woosley & Porter have skillfully handled securities arbitration and litigation claims against all major brokerage firms, including Prudential Financial, UBS Paine Webber, Salomon Smith Barney, Morgan Stanley, A.G. Edwards, and Dean Witter.
Specifically, many California residents have sustained losses in the past few years well in excess of market conditions. The reasons for these losses include:
- Churning / Excessive trading
- Unsuitable investments
- Breach of fiduciary duty
- Fraud, omissions, and misrepresentations
- Failure to supervise
- Over-concentration / Non-diversification
We at the Law Offices of Woosley & Porter have successfully recovered millions of dollars in investment losses. If you have a valid claim, we will handle your case on a contingency fee basis. NO RECOVERY/NO FEE.
We represent clients throughout California, including Santa Barbara, Los Angeles, and Ventura counties and the San Francisco Bay area counties of Alameda, Marin, Sonoma, and Napa.
The Law Offices of Woosley & Porter Challenges Securities Arbitration Agreements Before The California Supreme Court
On March 8, 2005, Eric Woosley, Esq. of the Law Offices of Woosley & Porter, argued before the California Supreme Court that California’s Standards for Neutral Arbitrators should be a applied to arbitrations conducted by the National Association of Securities Dealers and the New York Stock Exchange. Siding with the Law Offices of Woosley & Porter as amicus was the California Attorney General’s Office, the California Judicial Counsel, and the California Employment Lawyers Association.
The Securities & Exchange Commission, the National Association of Securities Dealers, and the New York Stock Exchange were on the opposing side.
The case is Jevne v. JB Oxford (2005) SC 121532 and, if successful, will provide an increased level of investor protection in securities arbitrations.
Securities Cases Set Records for Claims & Money
Firms Pay Huge Settlements in Class Actions
If you believe that you are part of a large class of investors who sustained losses because of corporate fraud / malfeasance or broker fraud / malfeasance, the Law Offices of Woosley & Porter will assist you in determining if your claim can be combined with others to make recovery economically viable.
Class B Mutual Funds Result in Large Upfront Commissions to Brokers and Low Yields and High Redemption Costs for Investors
We at the Law Offices of Woosley & Porter have been successful in recovering investor losses resulting from the sale of Class B shares. If your broker placed you in Class B mutual funds, contact us, and we will provide a free suitability analysis for your account.
Margin Loans: Who’s Profiting?
Margin loans can be highly profitable for your brokerage firm and your broker as they commonly receive fees based on the amount of your margin loans, but they are seldom suitable for unsophisticated investors.
Probably the most common case we handle is for the unsophisticated investor who lost his or her nest egg after being convinced to open a margin account without fully being explained the risk. If you fall into that category, contact us and the Law Offices of Woosley & Porter will evaluate whether you should have been placed in a margin account, whether you were properly disclosed the risks, and whether we can recover some or all of your losses.
Variable Annuities Often Result in Large Surrender Charges, Large Tax Penalties, Large Fees and Expenses, and Large Market Risk for Investors and Large Upfront Commissions for Brokers
If your broker sold you a variable annuity, please contact us, and the Law Offices of Woosley & Porter will provide a free suitability analysis for your account. We have been particularly successful in recovering variable annuity losses.
Latest NYSE Indictments Show Nothing Has Really Changed
Fifteen former New York Stock Exchange specialists indicted for fraud in yet another example of the brokerages profiting at the expense of individual investors.
Do Your Homework, Check Out Your Broker
Do you know if your broker has a disciplinary history? If not, Contact Us to be fully informed.
Securities Awards / Settlements
Our successful and reputable attorneys at the Law Offices of Woosley & Porter have recovered millions of dollars for securities investors over the years. Some of these include:
- $5,300,000 against a major brokerage firm for fraudulent sale of private placement limited partnership interests
- $5,000,000 against a major brokerage firm for fraudulent securities sales
- $2,000,000 against major brokerage firm for lack of supervision
- $800,000 against major accounting firm for negligent preparation of a private placement memorandum
- $225,000 against a major brokerage firm for sale of unsuitable securities that were to be used to care for the elderly
- $135,000 against a major brokerage firm for sale of variable annuity to a charitable trust
- $90,000 against major brokerage firm for churning
- $80,000 against major brokerage firm for unsuitable recommendations to an elderly investor who did not understand that her account was highly leveraged
- Plus recoveries for sale of Class B shares to an individual who was not told of the huge upfront commissions being received by her broker and was not told of the high redemption costs
Securities Research Links
- National Association of Securities Dealers www.nasd.com
- New York Stock Exchange (NYSE)
- Sarbanes-Oxley – Financial and Accounting Disclosure Information
- The Securities and Exchange Act of 1934
- SEC Litigation Releases
- SEC Enforcement Actions
- SEC Investor Alerts
- Securities & Exchange Commission—www.sec.gov
- Stanford Law School Class Action Clearinghouse
- The Wall Street Journal—http://www.wsj.com