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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A Client With a Wrongful Death Case

My family and I would like to thank Matt Turner, Mickey McCullough, Janice Koehler, and your entire law firm for your dedication to my wife’s wrongful death case. We realize that we had the best law firm to successfully help us. We appreciate the obviously hard work and the efforts…

Praise for Albert Asciutto

Shout out to Albert Asciutto for being a fantastic attorney & walking me through the entire process of fighting for my wages! He made the process quick and easy. In the end we won the case!! Thank you again for taking my case on, you are awesome! I would absolutely…

Praise for Jesse Young and Alana Karbal

Alana Karbal and Jesse Young did an excellent job fighting a giant for my wages. They pushed me to get what they needed from me and were amazing at communicating with me at all times. I won my arbitration and was so excited when I got more than what I…

Praise for Wage & Overtime Pay Attorney Jesse Young

Jesse Young worked an employment case for me that ended with almost 700 people getting their unpaid wages back. He and his team are incredible. From the first communication to the last, they never missed a single beat – consistent and clear communication, quickly replying to my communication, and always making…

A Client’s Gratitude for Tad Roumayah

Tad, I want to express my sincere gratitude for your unrelenting advocacy on my behalf throughout this process. It’s a shame that this sort of thing is still happening to new moms in 2023 and at an institution that prides itself on diversity, equity, and inclusion, no less. Knowing there…

Comments about Matthew Curtis from an Appreciative Client

Your efforts have changed my life, Matt. I’m forever grateful. My wife has tons of upcoming medical expenses, and we had both been working hard to make ends meet. I can’t thank you and your staff enough.

Praise for Lisa Esser-Weidenfeller and Matthew Curtis

I am writing to express my sincere gratitude for your hard work and dedication in handling my case. I appreciate your professionalism, your compassion, and your perseverance throughout this challenging process. You have gone above and beyond to protect my rights, to defend my interests, and to secure a favorable…

A Client Talks about Andy Dragovic

My wife had an accident, tripping over a cable line that wasn’t buried. Andy represented us and were very pleased with the outcome. Andy was very professional, personable, and quick to respond to us, answering any of our questions or concerns. The whole firm was responsive to our concerns, and…

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