Massachusetts investment fraud attorney Robert Wayne Pearce at the Law Offices of Robert Wayne Pearce P.A., has extensive experience representing investors and organizations in securities arbitrations through FINRA in the State of Massachusetts.
Have you fallen victim to investment fraud? Are you looking for an experienced attorney to help you fight for the compensation you deserve?
You need an investment fraud lawyer who is dedicated to protecting your rights as a Massachusetts-based investor.
We understand the frustration and stress that comes with being a victim of investment fraud. To often victims feel they are at fault and take no action against the perpetrator of the fraud. We are here to help you navigate the legal process and hold those responsible accountable.
Since 1980, we have been devoted to helping investors and have successfully recovered over $170 million in settlements and verdicts on their behalf. View client testimonials here. We have experience handling all types of securities fraud cases and utilize all available legal avenues from the federal level to Massachusetts law as it applies to investment fraud cases. Don’t let investment fraud ruin your financial future – contact the Law Offices of Robert Wayne Pearce, P.A. today via our quick-response form, or call (800) 732-2889.
Definition of Investment Fraud and Securities Fraud
Investment fraud, often equated with securities fraud, entails deceptive tactics such as the use of incorrect or deceptive information to influence investors into making decisions that lead to significant financial losses. Unethical brokers might go as far as directly stealing funds or securities from investors.
All forms of investment fraud aim to deceive investors into taking actions that benefit the perpetrator financially. This may include schemes like Affinity Fraud, Ponzi schemes, pump-and-dump schemes, churning, or the sale of unregistered securities. Securities fraud is an illegal or unethical activity punishable by law.
“Did you know that in the first quarter of 2023, The FTC has reported nearly 50,000 individual cases of investor fraud with an estimated $1.9 Billion in total losses?”
Brokers, broker-dealers, and investment advisors frequently promote novel and complex investment options to generate high commissions and profits, without considering their clients’ ability to absorb potential losses. Often only appropriate for a limited group of investors comfortable with high risk, these intricate investment solutions and tactics can also serve to mask excessive account trading and risk exposure.
Example Scenario: An investor is persuaded by their broker to put a large portion of their retirement savings into a high-risk, illiquid investment. The broker downplays the risks, misrepresents the potential returns, and pressures the investor to make a quick decision. The investment ultimately fails, leading to significant losses for the investor.
Initially engaging a broker-dealer, you probably placed your confidence in them to prioritize your interests. Regrettably, numerous brokers and financial advisors either fall short of their fiduciary responsibilities or engage in blatant securities fraud. They may deceive you regarding investment opportunities, hide potential risks, partake in excessive trading (known as churning) for the sake of commissions, or levy undisclosed fees, leading to overcharging.
Investment Losses? We Can Help
Discuss your legal options with an attorney at The Law Offices of Robert Wayne Pearce, P.A.
or, give us a ring at (800) 732-2889.
Massachusetts and Federal Laws That Protect Investors
Massachusetts investors benefit from a robust framework of protections designed to ensure fair and transparent markets. These safeguards include:
- Key Laws and Regulations
- Massachusetts Uniform Securities Act: The cornerstone of Massachusetts investor protection, this law combats fraud, mandates the registration of most securities, and provides avenues for investors to seek recourse if they’ve been misled.
- Massachusetts Business Corporation Act: This outlines shareholder rights and the responsibilities of company leaders, aiming to ensure that corporations act in the shareholders’ best interests.
- Massachusetts Consumer Protection Act: This broad law empowers investors to take action against unfair or deceptive investment practices.
- Governing Agencies
- Massachusetts State Securities Board: This agency is the primary watchdog for the Massachusetts securities industry. They register offerings, license brokers, investigate misconduct, and educate investors about their rights.
- Office of the Massachusetts Attorney General (Consumer Protection Division): Focused on consumer protection, this office can intervene in cases of investment fraud or other deceptive practices that harm Massachusetts investors.
- National Regulatory Bodies
- FINRA (Financial Industry Regulatory Authority): FINRA oversees all broker-dealers in the US, setting ethical standards, enforcing securities laws, and providing investor education resources. They work alongside the SEC (Securities and Exchange Commission) for broad investor protection.
Useful Resources
- Massachusetts Securities Diivision: https://www.sec.state.ma.us/divisions/securities/securities.htm
- Office of the Massachusetts Attorney General, Consumer Protection Division: https://www.mass.gov/get-consumer-support
- FINRA: https://www.finra.org/
- SEC – https://www.sec.gov/
How our Massachusetts Securities Law Attorneys Can Help You
While losses are inherent to the investment process, brokers engaging in fraudulent activities can be subject to legal accountability. Should you suspect that you’re a victim of investment fraud, reaching out to a lawyer specializing in such cases is crucial. Moreover, it may be necessary to inform regulatory authorities such as the SEC or FINRA about possible instances of market manipulation or insider trading.
The sooner you act, the greater your chances of recovering compensation. At the Law Offices of Robert Wayne Pearce, P.A., we have helped countless investors recover their losses due to investment fraud. We will thoroughly investigate your case, uncovering any misrepresentation or fraudulent activity, and fight to get you justice and the compensation you deserve.
If you have lost money due to negligence or fraud by a stockbroker or advisor, the easiest way to know if you have a case is to call our office at 800-732-2889. Here’s how our knowledgeable and experienced investment fraud law firm can advocate for you:
- Represent & Advise: We’ll stand as your legal representative, advising you on your rights and options throughout the process.
- Investigate & Analyze: We’ll thoroughly investigate your case, meticulously analyzing financial documents and potential fraudulent schemes to uncover evidence of wrongdoing.
- Identify Liable Parties: We’ll work strategically to identify all potentially liable parties, including brokers, financial advisors, and financial institutions.
- File Complaints & Lawsuits: We’ll file formal complaints with regulatory agencies (such as the SEC or FINRA) and, when necessary, initiate lawsuits to protect your interests.
- Litigate & Negotiate: We are skilled litigators ready to fight aggressively for you in court or arbitration. Additionally, we’ll negotiate tirelessly to secure the most favorable settlement possible.
- Recover Losses: Our ultimate goal is to recover your financial losses and protect you from further harm. We are results-driven and committed to achieving the maximum financial recovery you deserve.
Can I Recover my Investment Losses?
In order to recover your investment losses, you must prove that your broker-dealer or financial advisor breached their fiduciary duty to you as an investor.
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.
As an investor, you have certain rights that must be respected and protected.
We’re currently investigating several financial firms and stockbrokers who may have been the subject of customer complaints, may be facing legal action, and who may have acted unethically and committed fraud in Massachusetts, including:
- https://www.secatty.com/investigations/john-rogers-compass-securities/
- https://www.secatty.com/investigations/peter-cassell-mml-investor-services/
- https://www.secatty.com/investigations/robert-donovan-ubs-financial-services/
- https://www.secatty.com/investigations/albert-crimaldi-merrill-lynch-pierce-fenner-smith/
- https://www.secatty.com/investigations/bradley-small-purshe-kaplan-sterling-investments/
- https://www.secatty.com/investigations/angela-spears-nylife-securities/
- https://www.secatty.com/investigations/jeffrey-meyer-edward-jones/
- https://www.secatty.com/investigations/sean-flynn-commonwealth-financial-network-2/
- https://www.secatty.com/investigations/steven-abraham-hornor-townsend-kent
- https://www.secatty.com/investigations/edward-sunter-mml-investors-services/
- https://www.secatty.com/investigations/lisa-jacques-osaic-wealth-inc/
- https://www.secatty.com/investigations/james-dever-dominari-securities-llc/
- https://www.secatty.com/investigations/daniel-wilson-ameriprise-financial-services/
- https://www.secatty.com/investigations/michael-damon-nylife-securities-llc/
- https://www.secatty.com/investigations/marcie-daleo-morgan-stanley-2/
- https://www.secatty.com/investigations/daniel-curtin-j-p-morgan-securities/
- https://www.secatty.com/investigations/joseph-cahill-money-concepts-capital-corp/
- https://www.secatty.com/investigations/john-beggans-j-p-morgan-securities/
- https://www.secatty.com/investigations/sean-flynn-commonwealth-financial-network-2/
- https://www.secatty.com/investigations/gary-holland-cetera-advisor-networks-llc/
- https://www.secatty.com/investigations/laurence-knowlton-rockefeller-financial-llc/
- https://www.secatty.com/investigations/joseph-mcmanus-iii-pruco-securities/
- https://www.secatty.com/investigations/daryl-devillier-ameriprise-financial-services-2/
- https://www.secatty.com/investigations/damian-baird-moors-cabot/
- https://www.secatty.com/investigations/christopher-cavallaro-lpl-financial-2/
Some of our Lawyer’s Success Stories Include:
FINRA ARBITRATION SETTLEMENT $5,500,000
In this FINRA arbitration case, a leading U.S. broker-dealer and its offshore subsidiary were implicated for excessively concentrating an account in Puerto Rico municipal bonds and for recommending to maintain these positions despite knowing the risky market conditions. The dispute was resolved shortly before the arbitration hearing was scheduled to take place in 2022.
FINRA ARBITRATION SETTLEMENT $5,000,000
In this case brought before FINRA Arbitration, investors accused their financial advisor of not fully disclosing and misrepresenting the risks tied to a highly leveraged credit spread strategy. They further claimed that the advisor, who was linked to a major investment bank, inappropriately allocated all their assets into this risky investment approach. By March 2020, the account was excessively leveraged, leaving it exposed to significant security liquidations to fulfill margin calls at greatly reduced prices. The dispute was resolved before the scheduled arbitration hearing in September 2023.
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
Mr. Pearce represented the investors as co-counsel with the Receiver in a class action against the accounting and legal professionals for allegedly aiding and abetting a Ponzi scheme. After removal from state to Federal court and several years of litigation, the lawsuit was resolved in 2017 through mediation and the payment of more than $4.3 million to the receivership for the investors benefit by the law and accounting firms.
Did You Know . . . Investment Fraud Attorney Robert Pearce Has Single-Handedly Collected Over $170 Million On Behalf of His Clients
Over the past two decades, Robert Pearce has successfully reclaimed more than $170 million for his clients who are investors. Remarkably, he has secured recoveries for more than 99% of his investor clients, utilizing a range of methods such as settlements, arbitrations, and legal proceedings in court.
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 40 year career and in the last 20 years alone recovered over $170 million for his investor clients.
Robert Pearce will fight for your rights day in and day out to get you the recovery you are entitled to.
What Can an Investment Fraud Lawyer Do for Investors?
What Can an Investment Fraud Lawyer Do for Investors?
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
What is the Cost to Hire a Securities Attorney?
An initial consultation with a securities attorney is typically free. During this consultation, the lawyer will review your case and give you an estimate of the legal fees. If you decide to move forward with the case, you will typically be asked to sign a contingency fee agreement.
Under a contingency fee arrangement, you’re obligated to pay legal fees only if your lawyer successfully recovers funds for you. Should your lawyer not achieve a financial recovery, you will not be required to pay any legal fees.
What Are the Statute of Limitations?
In investment fraud matters, acting promptly is critical due to the statutes of limitations under both Massachusetts and federal law, which establish strict deadlines for initiating legal actions. Within Massachusetts, the timeframe for filing fraud claims is usually four years from when a violation of the Massachusetts Uniform Securities Act is discovered. On a federal level, the period for lodging securities fraud cases is often five years from the violation date or two years from when the fraud could have reasonably been discovered. Consulting with an attorney early is essential to make sure your claim is submitted within these specified periods.
Types of Investment and Securities Fraud Cases We Can Help Represent You With
There are a variety of investment fraud tactics that unscrupulous brokers and advisors may use.
Our firm has represented investors who have fallen victim to a wide range of investment fraud tactics, including:
- Unsuitable Investments: Recommendations not aligned with the investor’s needs.
- Forced liquidation (forced selling): Broker sold without warning client or advising on margin calls.
- Ponzi Scheme Fraud: Fraudulent investment operation promising high returns.
- Excessive Trading (Churning): Excessive transactions to generate advisor commissions.
- Misrepresentation & Omission: Deceptive or misleading information about investments.
- Breach of Fiduciary Duty: Prioritizing advisor interests over the client’s best interests.
- Unauthorized Trading: Executing trades without client permission.
- Failure to Supervise: Brokerage firms not adequately monitoring advisors.
- Overconcentration or lack of diversification: Holding too much of a single investment, increasing risk.
- Theft or Misappropriation of client funds: Brokers stealing money for their own personal use.
- Mutual Fund Sales Violations: Recommending unsuitable mutual funds or excessive switching.
- Excessive Markups/Markdowns: Inflated prices when buying/selling securities.
- Selling Away: The advisor sells unapproved investments outside the firm.
- Broker & Advisor Negligence: Failure to adhere to industry standards.
- Margin Abuse: Encouraging excessive margin use, leading to high risks.
- Conflicts of Interest: Prioritizing advisor/firm profits over client interests.
- Private Placements: Selling risky, non-registered securities.
- Cryptocurrency Fraud: Deceitful schemes related to digital currencies.
- 401(k) Plan Misconduct: Fiduciary breaches affecting retirement plans.
- Microcap Fraud: Manipulation of stocks of small companies.
- Mining and Mineral Investment Fraud: Schemes involving fictitious investments in mining or minerals.
- EB-5 Immigrant Investor Program Fraud: Scams related to obtaining visas through investment.
- Advance Fee Schemes: Asking for upfront fees in exchange for non-existent investments.
- Including many more that we can’t fit on this list
Contact a Massachusetts Securities and Investment Fraud Attorney Today
The Law Offices of Robert Wayne Pearce, P.A., is a law firm specializing in representing defrauded investors recover. Massachusetts 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 by phone at 561-338-0037 for a free confidential consultation with a Massachusetts securities lawyer. We will fight aggressively for your financial recovery and for justice.
Our law firm works with clients in Boston, Worcester, Springfield, Cambridge, Lowell, Brockton, Quincy, Lynn, New Bedford, Fall River, Massachusetts, and throughout the state. Robert Wayne Pearce has decades of first-hand experience in FINRA securities arbitration, and is one of the preeminent experts in this matter both nationwide and internationally.