Key Takeaways

• A securities claim belongs to an investor who bought or held a stock, bond, fund or other investment and lost money because of a false statement, a hidden fact or misconduct by the people in charge.
• There are several kinds of claims: class actions against public companies, shareholder derivative and merger cases, direct and opt-out actions, whistleblower claims, and arbitration claims against brokers.
• Deadlines are short and strict. Some claims must be filed within one year of the date the problem came to light.
• Your trade confirmations and account statements are the starting point. Keep them.

Securities Fraud and Shareholder Class Actions

When a public company makes false or misleading statements and its stock falls once the truth comes out, the investors who bought during that period can recover their losses. These cases are usually brought as class actions under the federal securities laws, on behalf of everyone who bought the stock while the price was inflated.

We review the company’s public filings, the timing of your trades and the size of your loss, and we advise you on whether to seek appointment as lead plaintiff, remain a class member or bring your own case. Read more about securities fraud class actions.

Shareholder Derivative, Corporate Governance and Merger Cases

Directors and officers owe duties of loyalty and care to the company and its shareholders. When they breach those duties through self-dealing, excessive pay, failed oversight or a merger at an unfair price, shareholders can go to court. A derivative suit is brought by a shareholder on behalf of the company. A merger case challenges the price or the process of a sale.

Read more about shareholder derivative and merger litigation.

Direct and Opt-Out Actions

An investor with a large loss does not have to accept the result of a class action. You can opt out of the class and bring your own case, or bring a direct action from the start. That gives you control over the claims, the timing and any settlement. It also carries its own deadlines, and the decision has to be made early.

Read more about direct and opt-out securities actions.

Whistleblower Claims

Federal law pays people who report fraud. The Securities and Exchange Commission, the Commodity Futures Trading Commission and the Internal Revenue Service each run a whistleblower program, and the False Claims Act lets a private person sue on behalf of the government when someone has cheated a federal program. An award can be a significant share of what the government collects, and the law protects employees from retaliation.

Read more about whistleblower claims.

Broker Misconduct and FINRA Arbitration

Most disputes between a customer and a brokerage firm are decided in arbitration before the Financial Industry Regulatory Authority (FINRA), not in court. Common claims include unsuitable recommendations, excessive trading, unauthorized trades, misrepresentation of a product and a firm’s failure to supervise its broker.

Read more about broker misconduct and FINRA arbitration.

What Our Firm Does

• Review your trades, account statements and the public record to determine whether you have a claim and what kind.
• Calculate your losses under the method the courts and arbitrators use.
• Advise you on whether to seek lead plaintiff status, stay in a class, opt out or file your own action.
• Prepare and file whistleblower submissions and protect you from retaliation.
• Bring arbitration claims against brokers and brokerage firms.
• Track the deadlines that apply to your claim so that none is missed.

Who We Help

• Individual investors and retirees who lost savings in a stock, fund or brokerage account.
• Trustees, executors and family members managing investments for someone else.
• Business owners and retirement plans with investment losses.
• Shareholders concerned about the conduct of a company’s board or a pending merger.
• Employees and other insiders with knowledge of securities, tax or government-program fraud.

Why Choose Siddons Law Firm

You work directly with attorney Michael A. Siddons from the first email to the end of the case. Mr. Siddons holds an LL.M. in Taxation, which matters in cases built on financial statements, accounting and the tax treatment of a recovery. The firm represents clients in Pennsylvania, New Jersey, New York and Maryland, in state and federal courts and in arbitration.

Frequently Asked Questions

How do I know if I have a securities claim?

You may have a claim if you lost money on an investment and the loss followed news that the company, its executives or your broker had not told the truth or had not followed the rules. The first step is a review of your trades and the public record. Email us and we will tell you what we need to see.

Do I have to do anything to be part of a class action?

Usually not. If a class is certified and you bought the security during the class period, you are generally a member unless you opt out. If you want to lead the case, you must ask the court to appoint you lead plaintiff, and that request is due within 60 days after notice of the case is published.

How long do I have to act?

It depends on the claim. A federal securities fraud claim generally must be filed within two years after the fraud is discovered and no later than five years after it occurred. A claim based on a false registration statement has a shorter period. FINRA will not hear an arbitration claim more than six years after the event. Do not wait to find out which deadline applies to you.

What documents should I keep?

Keep your trade confirmations, account statements, any prospectus or offering papers, and every email, text and note of your conversations with your broker or the company. Do not send documents through this website. Email us first and we will tell you exactly what we need.

What does it cost to have my situation reviewed?

The first conversation is free. If we take your matter, the fee terms are put in writing before any work begins.

Talk to Us About Your Investment Loss

Email msiddons@siddonslaw.com with a short description of what you bought, when you bought it and what you lost. We will reply with the list of documents we need to review your claim.