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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I recommend you without reservation.

I want to extend to both you and Tad a final thank you for your diligence in defending my case over the past several months. You put a great deal of time and energy into my defense, included me in the decision-making process, communicated with me regularly, and I am pleased with the outcome.

I will always recommend Mr. Watkins and Sommers Schwartz.

After meeting Mr. Watkins in person and working with him during the proceedings, I realized that the words in his website bio were true. He is a FIGHTER for his clients. No matter what time of day I called, he immediately returned my call. I am glad I made an EXCELLENT decision in selecting him.

Kenneth Watkins is very knowledgeable.

Being a healthcare professor myself, I was impressed to know that he was so well read and knew the medical jargon (terminology) when evaluating individual cases. I found him to be very professional, credible, and personable.

I’m speechless!

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

About Matthew Turner and Tad Roumayah…

As a President and CEO, I have had the opportunity to work with many law firms and attorneys on various legal matters. Recently, I became in need of personal representation in a lawsuit. After a review of alternatives, I received a recommendation for Sommers Schwartz, P.C, and specifically to the…

Jason Thompson filed a suit on my mother’s behalf.

Jason Thompson filed a suit on my mother’s behalf, and we received a nice settlement. He was very kind and professional, and the office staff was very helpful and easy to work with.

Mr. Watkins exceeded my expectations.

The settlement that Mr. Watkins achieved was beyond my expectations! Without hesitation, I would and have recommended him to my friends and family. He and the staff all have been extremely cooperative, informative, and professional.

I felt from the beginning that my best interests at were always at heart.

I felt that within a short period of time, they fully understood my case, and advised me as to the best possible courses to take with the best possible outcomes.

I was very satisfied with your approach.

I was very satisfied with Mr. Swanson’s approach toward this matter, in particular his desire to understand the details and the relevant context, which allowed him to define the proper strategy, emphasize the right items and expedite the entire process.

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