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 Medical Malpractice Client Recommends Matt Turner

Matt Turner and his whole staff have acted very professionally, respectfully, and responsively to my every need. I highly recommend him to represent you in any legal matter you may have. Thank you again for all your help and guidance.

Appreciation for Mary Pat Rosen

I want you to know how much I appreciate you and your staff’s kindness and desire to find justice for my husband. Life certainly has it’s turns and twist and we must learn to move with them to embrace peace and new beginnings.

Although a Claim Couldn’t Be Brought, a Client Told Mary Pat Rosen Meyers…

Thank you again for looking into everything, and we understand entirely that your hands are tied due to the statute of limitations in Michigan. We greatly appreciate both the effort you and your staff put in and the professionalism and kindness with which you did it.

We are so thankful this firm was recommended to us!

Robert Sickels and his whole team went above and beyond while caring for us, They truly go the extra mile.

After our first meeting with attorney Matt Curtis, our feelings of frustration, defeat, and helplessness were diminished.

Matt’s knowledge of the law concerning medical malpractice and his compassion for my husband’s situation gave us the boost we needed to stand up and be heard! I am so grateful that my husband felt validated and energized throughout his time meeting with Mr. Curtis because, in February of 2021, he…

I couldn’t have asked for better representation and counsel.

Thank you, Tad Roumayah, for representing me on my severance agreement. The entire negotiation was handled efficiently and in an extremely professional manner. I couldn’t have asked for better representation and counsel.

My wife and I wanted to send you our deepest gratitude for your work on our family’s behalf

Even though it doesn’t change our daughter’s condition, it will make going through some of the challenges she will face less burdensome from a financial perspective. We appreciate your professionalism, Rick Groffsky – you are truly a master of your craft.

Matt Turner was a guiding light through my lawsuit.

Going through the legal process was foreign and nerve-racking for me but I was able to garner confidence from my attorney. I am fully confident he was the key factor in the success of my outcome.

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