Have you lost $50,000 or less and been turned away by other securities litigation attorneys? Did you know that FINRA has a rule change that would allow those customers with losses up to $50,000 or less to file a Simplified Arbitration.
Did your broker make a trade without your permission, and you lost money? Did your broker fail to execute a trade you ordered and it ended up with you losing the profit you would have made if the broker had done his or her job.
Yes, brokers are people too, and they make mistakes. But, that doesn’t mean that you have to suffer losses just because your broker mishandled your account unintentionally. There are rules and protections in place to protect you from such unintentional mistakes.
The simplified process is streamlined, and in some cases there is no actual hearing. You tell your story of whatever alleged wrongdoing has occurred in written form and it is provided to a single arbitrator and to the legal department of the firm you believe has wronged you. The brokerage firm will respond to your claim. There will be a request to provide certain documents by each party. This is the option to have a single arbitrator, and a decision can be rendered based solely on the pleadings and materials provided. There is always an option to have a hearing, if desired, but our experienced has demonstrated to us that most people would rather NOT go to a hearing, which is why they do nothing.
We at the Coleman Law Firm believe that every investor should have the assistance and experience of a proven law firm behind them. We have assisted individuals in the preparation of their simplified claims.
For more information on this proposed Simplified Arbitrations, you can check with FINRA.org, or contact our offices at (727) 461-7474.