Detroit Securities Fraud Attorneys

Security and What it Means

The role of Wall Street traders, bankers, and investors is changing as individuals become more informed of their rights and the risks associated with trusting a financial advisor. The news is full of reports about white-collar crimes, Ponzi schemes, and business fraud.

When investors entrust their money to a corporation, they expect that the company’s leaders will adhere to federal securities laws and state “blue-sky” laws and honor their fiduciary duties. Unfortunately, management doesn’t always adhere to the rules, jeopardizing shareholders’ investment.

Congress, the states, and the Securities Exchange Commission have put rules in place that regulate the marketing and sale of financial instruments, including stocks, bonds and other market-traded investments, and seek to the protect investors from illicit practices.

For example:

  • Securities Exchange Commission Rule 10(b)-5 makes it unlawful for public companies to falsely represent their future prospects or financial condition.
  • Generally Accepted Accounting Principles (GAAP) mandate how companies categorize and report profits, losses, debts, and expenses.
  • Section 11 of the Securities Act of 1933 prohibits the filing of a false or misleading registration statement.

These laws can be complex, and exposing wrongdoing and bringing actions to recover investors’ losses can be difficult and complicated.

Sommers Schwartz represents individuals and businesses that have been victims of securities fraud, as well as brokers, investment advisors, and companies who have been accused of such wrongdoing. Our attorneys are deeply familiar with complicated and tough-to-prove issues such as churning, insider trading, margin violations, illegal trading, stock market manipulations, and breaches of fiduciary duty. We excel in identifying our clients’ rights and aggressively pursuing these rights in trial.

Our attorneys have also successfully litigated a number of prominent securities class action lawsuits, including:

  • In Re Bank One Securities Litigation, Case No. 00-cv-767 (N.D. Ill.), $120 million recovered for a class of former First-Chicago NBD shareholders for suspected accounting violations.
  • Gutter v. E.I. DuPont De Nemours & Co., Case No. 95-cv-2152 (S.D. Fla.), $80 million recovered for a class of defrauded shareholders for undisclosed risks associated with the company’s products.
  • In Re F&M Distributors, Inc. Securities Litigation, Case No. 95-cv-71778 (E.D. Mich.), $20 million recovered for a class of defrauded bondholders who invested money just prior to the company’s bankruptcy.

Business litigation is sophisticated, complex, and poses substantial risks for both defendants and plaintiffs. With so much at stake, you can’t afford to compound that risk.

Contact a Sommers Schwartz attorney today to confidentially discuss your case and learn how we can help.

A Trusted Authority

Our attorneys have been featured on local and national media outlets, including:

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Going through this process was a totally new experience for me, but the way you and your firm conducted it was certainly reassuring. Please extend my gratitude to all the people involved.

Ken Watkins and everyone at Sommers Schwartz went above and beyond.

Ken Watkins and everyone at Sommers Schwartz went above and beyond my expectations! They are professional, caring, and compassionate, and I can’t say enough or thank them enough for everything they did on my behalf.

Jason was an aggressive and thorough attorney.

He spent the time listening to me as a client and he would explain what steps were next as we went through the process. Jason made me feel very confident in my case and in him as an attorney.

There are no words for my gratitude.

I want to thank you again for what you have done for my family. There are no words for my gratitude. I will forever be grateful.

There is no one that will harder than attorney Jason Thompson.

There is no one that will harder than attorney Jason Thompson. He and his staff will work with you to make sure they get the best settlement possible.

I want to express my sincere thanks to you.

I want to express my sincere thanks to you for getting justice for my son and restoring my hope in humanity. After his death, I labored for over one-and-a-half years to find an attorney to file the case. I am grateful to you and your firm for your unwavering belief in this case.

I will confidently recommend Sommers Schwartz.

You were on a short list of attorney’s I considered to represent me in this matter based on your standing in the legal community and I have no doubt that your reputation brought this matter to a resolution more expeditiously than a less highly regarded attorney would have been able to accomplish.

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I’m speechless! I never expected to receive the settlement that you guys worked so hard for! Thank you so much!

Arvin Pearlman was the first and only attorney that we consulted.

Arvin Pearlman was the first and only attorney that we consulted and could not be happier that we chose him to represent us. I truly realized that Arvin had me and my family’s best interest at heart. Once we made it to trial, all we kept thinking was how glad…

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