Sometimes investors in Detroit experience losses that are simply due to the current economic conditions. Other times, however, investment losses are due to wrongdoing that has nothing to do with market forces. When this happens, it could give rise to securities...
Securities Litigation
What damages can I get for breach of fiduciary duty?
If you buy stocks or other securities, you probably put a lot of trust in someone who manages your investments for you. This person may sell and buy on your behalf with your money. This requires a legal duty on the part of the other person to properly manage your...
Pharmaceutical company settles shareholders’ lawsuit for $14.1M
Shareholders of a Michigan-based pharmaceutical firm filed a class-action lawsuit alleging that the company’s board of directors violated federal securities laws. The Securities Exchange Commission’s requirement for companies to issue press releases that contain...
The basics of churning and why it is illegal
When you entrust your investment decisions to a brokerage firm in Michigan, you should have faith that the firm will act in your best interests. When a broker recklessly infringes on that trust for personal enrichment, the broker may have violated securities law. Some...
Securities firm allegedly defrauds investors
Securities management firms and hedge funds in Michigan may be accused of committing securities fraud. These charges may be in the form of management securities fraud and the courts may classify them as civil cases. This is true for a certain securities management...
How does the Sarbanes-Oxley Act help investors?
There is a lot of money you can make in investing, which is why the government regulates this industry so heavily. There are many watchdogs making sure the industry stays fair and balanced. While you may understand some of the laws that keep the industry on track, one...
Understand a fiduciary financial advisor’s legal responsibilities
While working to improve one’s overall financial health while building a life in Michigan, a person may enlist the professional assistance of a financial advisor. Doing so is a great idea, but an even better one is knowing that professional’s legal obligations and...
What damages can I seek for breach of fiduciary duty?
Trust plays a large part in the financial industry in Michigan. You have to be able to trust those that you do business with and that they will partner with the right people. A lot of money is on the line, so when someone does not do their job or fails to carry out...
Wealth planning for high net worth protection
Estate planners are sadly all too familiar with high net worth families who lose their wealth by the second generation. How can this happen? Often, it is the result of errors made by well-intentioned estate planners who lack the skills to lock in protection for the...