Every year, people in Illinois and throughout the country lose millions of dollars due to investment fraud. Stockbrokers, brokerage firms, financial advisors, and companies can cause investors to suffer significant losses through misconduct or negligent behavior. Some victims lose their entire life savings. If you have lost money because of a financial professional’s fraudulent conduct, an Illinois investment fraud attorney can help you demand financial compensation and justice.
At Erez Law, PLLC, our attorneys have been advocating on behalf of victims of securities fraud for more than 20 years. We are exclusively focused on helping clients who have lost money due to fraud by businesses, brokers, and financial institutions. Our attorneys have the legal knowledge and resources to stand toe-to-toe against even the most powerful corporations and Wall Street firms. We take pride in our firm’s 99% success rate and track record of recovering more than $200 million in compensation for defrauded investors.
Reach out to Erez Law, PLLC, today for a free case evaluation with a trusted Illinois investment fraud lawyer. We stand ready to advocate on your behalf and fight to hold those at-fault accountable.
What Is Securities Fraud?
Securities fraud refers to the practice of inducing an investor to make decisions or transactions based on false, inaccurate, or misleading information or by withholding material information about an investment. Securities fraud typically causes the investor to lose a portion or all of their investment along with other expenses and losses. In contrast, the fraud perpetrators often profit from the investor’s money. Securities fraud can be committed by companies that issue securities and those in the securities industry, such as advisors, investment firms, brokerages, or other financial institutions.
Securities fraud may constitute a crime and can lead to civil liability for perpetrators to pay back the victims of the fraud.
Currently, we are investigating numerous brokers and companies who made fraudulent actions; this includes Alliance Bernstein. If you were the victim of a fraudulent broker, we are here to help you!
Signs That You May Have Been the Victim of Securities Fraud
Red flags that could signal potential securities fraud include:
- Reported financial results rarely approach the previously announced performance expectations.
- Financial statements and records do not make sense.
- An investment experiences a steep drop in value in a short period, especially soon after you have made your investment.
- Material information is not timely disclosed or is not disclosed at all.
- You have tax liabilities even though an investment is purportedly losing money or declining in value.
- The company stops returning your calls or emails or its internet presence disappears.
Failure of an investment does not necessarily mean that fraud has occurred. However, when you experience these signs, you should talk to an Illinois investment fraud attorney who can review your case in greater detail. If securities fraud has occurred, you may be entitled to compensation for your investment losses.
How an Illinois Investment Fraud Attorney Can Help You
If you have been the victim of securities fraud, an Illinois investor fraud attorney from Erez Law, PLLC, can help you by:
- Investigating and reviewing evidence in your investor fraud case to prove the fraud and to identify the perpetrators and parties who can be held liable for your losses
- Working to calculate the losses you have incurred, including lost investment and other expenses
- Pursuing formal complaints with regulators on your behalf
- Preparing and filing legal claims for compensation for your losses and seeking maximum payment on your behalf
Common Types of Securities Fraud Cases Our Firm Helps With
The attorneys of Erez Law, PLLC, have extensive experience representing clients pursuing in securities fraud cases involving:
- Hedge fund fraud – Hedge fund managers may fail to make full or timely disclosures to fund participants regarding the investment strategy and specific investments of the fund or the fund’s performance.
- Junk bond fraud – Companies in financial distress or with poor credit ratings that issue bonds and other debt securities may fail to disclose all the risks of their potential default fully.
- Oil and energy investment fraud – Investors in oil and energy securities and ventures may not receive full disclosure regarding the volatility of the oil and energy sector and the risks of investing in the industry.
- Ponzi scheme fraud – Ponzi schemes by their nature involve fraud, as the scheme purports to provide investment returns that beat the market. However, investors in the scheme are paid solely or primarily from new investment money, rather than from the performance of any real investments.
- Preferred shares of stock fraud – Preferred stock carries certain risks and may not be suitable for an investor.
- Private placement fraud – This fraud occurs during fundraising efforts by startups or non-publicly traded enterprises.
- Variable annuity investment fraud – Variable annuities pay fund participants income that is calculated according to the performance of the fund’s investments. When fraud occurs, investors suffer.
- Stockbroker fraud and misconduct – This type of fraud includes trading on a client’s portfolio solely to generate fees and commissions for the broker or engaging in high-risk and speculative investments without the client’s knowledge or consent.
- Elder financial fraud – This involves the misuse of funds from an elder who is unaware or unable to approve of fund management.
- EB-5 Immigrant Investor Program fraud – Foreign nationals seeking to enter the U.S. on an EB-5 visa may be defrauded out of investments that are purported to be used for purposes that qualify under the EB-5 program.
What Is the Securities Fraud Statute of Limitations?
Federal securities law and Illinois state law have strict statutes of limitations for how long you have to file a claim for compensation in an investment fraud case. The Financial Industry Regulatory Authority (FINRA) also has its own time limits that may apply to your claim.
Because investment fraud cases can be so complex, you should seek legal advice as soon as you suspect that fraud is a factor in your investment loss. Contact the knowledgeable investment loss attorneys at Erez Law, PLLC, today for a free review of your case.
How Much Does It Cost to Hire a Securities Fraud Attorney?
The attorneys of Erez Law, PLLC, recognize the financial difficulties that you may face after losing considerable money to investment fraud. That’s why our firm represents clients in securities fraud cases on a contingency basis. This means you do not need to pay any securities fraud attorney fees upfront to hire us. Instead, we are paid only when we secure the financial compensation you deserve.
Resources for Illinois Investors
Investors in Illinois who believe they may have been victimized by securities fraud can seek help through legal and government resources such as:
- Illinois Securities Department – This department enforces state securities laws and oversees the issuance and secondary sales of securities within Illinois.
- Illinois Consumer Protection Division – This division enforces Illinois consumer protection laws, including by investigating complaints from consumers.
- Illinois Securities Law of 1953 – This state statute governs securities within Illinois.
- FINRA – A nongovernmental industry organization, the Financial Industry Regulatory Authority self-governs its members by establishing and enforcing codes of conduct and other regulations.
- U.S. Securities and Exchange Commission – This agency enforces federal securities law and the regulations the commission issues to implement federal law, overseeing all securities transactions across the country.
Talk to Our Illinois Securities Fraud Attorneys Now
If are involved in an investment dispute, you need experienced legal representation. Contact Erez Law, PLLC, today for a free and confidential consultation with an experienced Illinois securities fraud lawyer. We are ready to investigate your case and fight for full compensation for your losses.
Our law firm represents clients in investment disputes in Chicago, Aurora, Naperville, and across Illinois. Our investment loss attorneys have earned a reputation for fighting for investors throughout the United States and around the world.