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.
We fight hard. And we win.
News & Case Alerts
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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…
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 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…
Praise for Dina Zalewski
The lawyers at Sommers Schwartz, P.C. were nothing short of amazing when I came to them with my medical malpractice case! Dina truly helped to put my mind at ease and because of her and her firm, I finally have closure and can begin my healing process! I just want…
Gratitude for Rob Sickels
When our world was shattered by an unexpected medical diagnosis, we were referred to Rob Sickels of Sommers Schwartz. What a blessing to get this referral as Rob listened to us with caring and compassion, spent all the time necessary to help us, was always honest with us about our…
A Grateful Client Talks About Dina Zalewski
Dina never lied to us and was very straightforward. I feel like she took me under her wing. She got me through something that I thought was going to be incredibly difficult for me to relive. Dina felt like a friend, somebody I could trust and look to for guidance….
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