The Law Offices of Robert Wayne Pearce P.A. represents investors throughout South Dakota who have lost money due to stockbroker fraud, unsuitable investments, and brokerage firm misconduct. As experienced South Dakota investment fraud attorneys with over 45 years protecting investor rights, we understand the devastating impact of discovering your trusted financial advisor violated their fiduciary duty.

Our securities attorneys have recovered over $175 million for clients through FINRA arbitration and litigation. We handle cases involving unauthorized trading, misrepresentation of investment risks, breach of fiduciary duty, and broker negligence that caused significant investment losses. Victims of investment fraud often blame themselves, but your broker—not you—violated the trust you placed in them.

Investment fraud occurs when brokers prioritize commissions over client interests, recommend unsuitable investments, or misrepresent material facts about securities. Our firm helps investors reclaim their financial security through aggressive representation in FINRA claims and court proceedings. We know South Dakota investors work hard for their money, and we work equally hard to recover what dishonest brokers took from you.

Recovery starts with understanding your rights and options. Our Sioux Falls investment fraud lawyers offer free consultations and work on contingency—you pay nothing unless we recover money for you. Call (800) 732-2889 today to discuss your case with attorneys who have the experience and track record to fight for your financial future.

Our law firm serves clients throughout South Dakota:

Investment Losses? We Can Help

Discuss your legal options with an attorney at The Law Offices of Robert Wayne Pearce, P.A.

Get A Free Consultation

or, give us a ring at (800) 732-2889.

Robert Pearce

How a South Dakota Investment Fraud Attorney Can Help You

If you’ve experienced financial loss due to investment fraud or misconduct by a broker, our South Dakota investment and stockbroker fraud attorneys at the Law Offices of Robert Wayne Pearce, P.A., can help you navigate your legal options and potentially recover your losses.

Misrepresentation and Fraudulent Investment Practices

Investment fraud, including securities fraud, involves deceitful tactics such as providing false or misleading information to encourage investors to make poor financial decisions. Under the South Dakota Uniform Securities Act (§47-31B), investors have protection from fraudulent schemes.

Our investment fraud attorneys at the Law Offices of Robert Wayne Pearce, P.A. can conduct comprehensive investigations into your investments, helping you identify instances of misrepresentation or fraud and determine your legal recourse.

Breach of Fiduciary Duty

Brokers and financial advisors owe fiduciary duties to their clients, meaning they must act in your best interest. Violations of this duty, such as recommending unsuitable investments, may constitute a breach under South Dakota Business Corporations Act (§47-1A).

Our experienced lawyers can analyze your broker’s actions, identify breaches of fiduciary responsibility, and help you seek restitution through arbitration or litigation.

Churning and Excessive Trading

Churning occurs when brokers excessively trade your account primarily to generate commissions. This violation is regulated by both FINRA Rule 2111 (Suitability) and the South Dakota Uniform Securities Act.

At the Law Offices of Robert Wayne Pearce, P.A., our investment fraud attorneys can meticulously examine trading records to detect excessive trading and guide you through the process of filing complaints with FINRA or pursuing arbitration.

Unauthorized Trading

When brokers execute trades without your permission, this unauthorized activity violates FINRA regulations and South Dakota securities laws. Such trades are actionable under the state’s securities laws and SEC guidelines.

Our attorneys can assess your brokerage accounts, determine instances of unauthorized trading, and assist in recovering losses through legal channels.

Ponzi Schemes and Investment Scams

Ponzi schemes involve using funds from new investors to pay earlier investors, creating the illusion of profitability. These fraudulent activities violate both federal law and the South Dakota Consumer Protection-Deceptive Trade Practices Act (§37-24).

Our team at the Law Offices of Robert Wayne Pearce, P.A. can investigate complex Ponzi schemes, identify responsible parties, and aggressively pursue recovery of your financial losses.

Unsuitable Investment Recommendations

Brokers recommending investments that don’t align with your financial objectives, risk tolerance, or investment experience violate FINRA suitability rules and South Dakota investor protection laws.

Our investment fraud lawyers can review your financial records to pinpoint unsuitable investment recommendations and hold financial advisors accountable.

Failure to Supervise

Brokerage firms have a legal duty to supervise their brokers adequately. When firms fail to uphold this duty, they can be held responsible under FINRA Rule 3110 and South Dakota securities regulations.

Attorneys at our firm can evaluate supervisory lapses and file actions against brokerage firms that neglected their supervisory obligations.

Additional Investment Fraud Practice Areas:

  • Insider Trading Violations
  • Market Manipulation Claims
  • Negligence by Financial Advisors
  • Hidden Fees and Overcharging

Understanding the Statute of Limitations

In South Dakota, securities fraud claims generally must be filed within five years of the violation or within two years from when the fraud was discovered. Prompt consultation with our attorneys ensures you protect your rights within these crucial timeframes.

Cost to Hire a South Dakota Securities Attorney

An initial consultation is typically free, and our attorneys generally work on a contingency fee basis. This means you only pay legal fees if we successfully recover compensation on your behalf.

Can I Recover my Investment Losses?

In order to recover your investment losses, you must prove that your broker-dealer or financial advisor violated federal or South Dakota securities statutes, breached their fiduciary duty to you as an investor or acted negligently.

In most cases, this means filing a FINRA arbitration claim against the broker-dealer and/or representative.

The majority of securities fraud cases are handled by FINRA (Financial Industry Regulatory Authority) rather than being brought to the court system.

FINRA arbitration is a streamlined, cost-effective way to resolve disputes between investors and their brokers without going to court – it also allows you to collect punitive damages, which are not available in civil court.

Did You Know . . . Investment Fraud Attorney Robert Pearce Has Single-Handedly Collected Over $175 Million On Behalf of His Clients

Over the past two decades, Robert Pearce has successfully recovered more than $175 million for his investor clients. Remarkably, he has secured funds for over 99% of his clients through different recovery methods, such as settlements, arbitrations, and court litigations.

No investment fraud firm can ever guarantee the same or similar results in any given case. However, when you hire the Law Offices of Robert Wayne Pearce, P.A., you can sleep well knowing you are in qualified and capable hands. Attorney Robert Pearce has represented hundreds of investors over his 45 year career and in the last 20 years alone recovered over $175 million for his investor clients.

What Can an Investment Fraud Lawyer Do for Investors?

investment fraud lawyers

An investment fraud lawyer helps investors recover investment losses that they lost due to a financial advisor or broker who did not act in their best interest. Typically, the lawyer will help the investor recover their losses through a process called FINRA arbitration.

Investment Losses? Let’s talk.

or, give us a ring at 800-732-2889.

Client Testimonials


Proven Results for South Dakota Investors

When evaluating law firms, results speak louder than promises. With over 45 years of experience protecting both South Dakota and nationwide investors, our firm has gone head-to-head with major financial institutions to reclaim millions in losses from complex, high-stakes cases. Our track record demonstrates consistent success in holding Wall Street accountable for investment fraud, unsuitable recommendations, and breach of fiduciary duty. Here are a few examples that showcase our track record:

1) FINRA Arbitration Award $552,000

Case No. 22-01789

Pamela Joy Borders, Individually and Trustee v. UBS Financial Services, Inc.

This case involved a Texas resident whose financial advisor at UBS made unsuitable “hold” recommendations and failed to disclose the risks of a highly leveraged account concentrated in the oil and gas sector. South Dakota investors facing similar misconduct with leveraged accounts can take confidence from this result, which included not only compensatory damages but also attorney fees and interest awarded after proving the account was dangerously overleveraged and vulnerable to massive liquidations during the March 2020 market volatility.

2) FINRA Arbitration Settlement $615,000

Our client discovered her advisor had misappropriated funds intended for investment and concealed the fraud with falsified account statements. Like many South Dakota residents who’ve encountered financial advisor fraud, this investor trusted her advisor with her financial future only to discover systematic theft. The settlement came after we demonstrated unequivocally that the advisor had stolen client funds while the employer firm failed in its supervisory duties, securing full compensation in September 2023.

3) Federal Court Class Action Settlement $4,300,000

Case No. 14-001695-CI

State of Florida, Office of Financial Regulation v. Tri-Med Corp., et al.

In a complex federal court proceeding, we represented investors as co-counsel with the Receiver against accounting and legal professionals for allegedly aiding and abetting a Ponzi scheme. This case demonstrates our ability to help South Dakota investors with sophisticated litigation strategies, as the recovery came through proving professional liability after several years of litigation and removal from state to federal court, ultimately securing over $4.3 million for the receivership’s benefit through mediation in 2017.

Contact our South Dakota Securities and Investment Fraud Attorneys Today

The Law Offices of Robert Wayne Pearce, P.A., is a law firm specializing in representing defrauded investors recover. South Dakota investment fraud lawyer Robert Wayne Pearce specializes in getting individuals their money back from bad investments using any and all available methods.

If you are an investor who has recently dealt with investment loss due to potential securities or investment fraud, we want to help.

If you have questions about how to move forward, contact our team online or call our Sioux Falls office line at (800) 732-2889 for a free confidential consultation with a South Dakota securities lawyer. We will fight aggressively for your financial recovery and for justice.

Frequently Asked Questions

What are some warning signs of investment fraud in South Dakota?

Red flags include unauthorized trades, investments that don’t match your goals, unusually frequent transactions (churning), or vague explanations from your advisor. If you experienced unexpected losses and can’t get straight answers, it may be time to investigate further.

How much does it cost to hire your law firm?

We work on a contingency fee basis—you pay nothing upfront. We only get paid if we recover money for you. Initial consultations are free and confidential.

What’s the time limit to file an investment fraud claim in South Dakota?

South Dakota generally allows up to five years from the date of the fraudulent activity or two years from when you reasonably should have discovered the fraud. Acting quickly can help preserve your rights.

Can I recover investment losses if I signed a disclosure agreement?

Yes. Disclosures don’t excuse broker misconduct or violations of securities laws. If your broker gave misleading advice or failed to act in your best interest, you may still be entitled to recovery through FINRA arbitration or litigation.

What if my losses were caused by a small local advisor rather than a big firm?

Broker misconduct can occur at firms of all sizes. Whether your advisor was affiliated with a major firm or a local outfit, our attorneys can investigate, file claims, and pursue compensation from the broker and their employer if supervisory duties were breached.

[Written by attorney Robert Wayne Pearce (Attorney Bio)]