stock broker fraud

Stock Fraud Costs Investors' Savings

Picture this: you put your trust in an investment firm and follow your stock broker's recommendations, feeling secure with his expertise. The next thing you know, your stocks have plummeted, the firm's CEO is all over the news defending his company against allegations of securities fraud, and your life savings is lost forever.

Sound familiar? Investment fraud involving stocks, bonds, and other securities is widespread: Merrill Lynch analysts encouraged customers to buy or hold poorly performing stocks, while privately making fun of the same stocks. Salomon Smith Barney stock analysts misled individual investors about stocks' performance, while giving favorable reviews to corporate clients' stocks without actually analyzing them. Goldman Sachs analysts were troubled by the firm's endorsement of certain telecommunications stocks, but in some cases didn't inform investors of these doubts, in part because of concerns about possibly jeopardizing investment-banking business and losing lucrative corporate clients. Research analysts at Morgan Stanley were subject to inappropriate influence by investment bankers and passed on fraudulent stock advice to investors.

Despite the Securities and Exchange Commission's decision to impose a record $1.4 billion in penalties on several top investment banks, investors remain skeptical and have little hope that their brokers are giving them the whole picture regarding stocks, bonds, and other securities. The best bet for individual investors looking to recover losses is to speak to an experienced lawyer regarding their stock fraud concerns.

If stock fraud took away your life savings, you can do something about it. You have a right to expect honest and competent advice from your stock broker, and you may have a right to recover losses due to investment fraud. If you have suffered losses, please contact the Consumer Justice Group immediately for an evaluation of your case.


You have a right to expect honest and competent advice from your stock broker, and you may have a right to recover losses due to investment fraud.

Take Action If:

  • You lost your savings with Merrill Lynch, Salomon Smith Barney, Goldman Sachs, or Morgan Stanley

  • Your company or union pension fund invested with Merrill Lynch, Salomon Smith Barney, Goldman Sachs, or Morgan Stanley

  • You owned Enron stock in a Merrill Lynch account

  • You owned WorldCom stock in a Salomon Smith Barney account

Contact the Consumer Justice Group for an evaluation of your case.

 


The Investment & Stock Fraud News is a service of the Consumer Justice Group.

free consultation, 1-800-513-1609
 
Do you know the common forms of stock broker fraud?
 
free consultation

This page is an advertisement of the Consumer Justice Group, LLC. The opinions expressed herein are those of the Consumer Justice Group. The Group is a Washington, DC law firm. This website is not a solicitation for business in any other jurisdiction. The laws of the District of Columbia apply to this website. The information contained herein is not legal advice. All trademarks and copyrights are those of their respective owners.