Securities Misrepresentation and Omission Class Action Attorney Serving California and Nationwide
Your investment manager, broker, and other fiduciaries are required to provide you with full, fair, and accurate disclosures concerning stocks, bonds, and other securities and investment strategies. If your stockbroker omits key facts or makes deliberate misrepresentations about a security or financial product, they are not only betraying your trust; they’re violating the law.
The Kalfayan Law Firm is a proud defender of consumers in California and across the country. We make it our business to protect customers from the unscrupulous acts of corporations, financial institutions, and predatory lenders. We stand toe-to-toe with anyone who would lie to or deceive customers, from local banks to multinational corporations.
If you find out your stockbroker, brokerage firm, investment firm, or other fiduciary has misled you about securities, you have the right to hold those institutions accountable. Moreover, it’s very likely you are not alone. When dozens or thousands of people have suffered just like you, you may be able to protect the rights of your fellow consumers by bringing a class action on behalf of everyone injured.
Whether you have an individual complaint about securities fraud or you have suffered harm similar to dozens, hundreds, or thousands of other fraud victims, the Kalfayan Law Firm is ready to help you fight for justice and compensation. For help in California or nationwide, call our office in Del Mar just north of San Diego for a free consultation at 619-232-0331.
What Is an Unlawful Misrepresentation or Omission?
Stockbrokers, brokerage firms, investment managers, and other similar actors are known as “fiduciaries.” That means that they hold a position of trust with their clients, typically by taking care of the money, investments, or other assets of those clients. Fiduciaries are legally obligated to act in their client’s best interests, rather than their own.
Among other duties, brokers and their firms are required to provide “full and fair disclosure” of “material information” to their clients before trading securities or making recommendations regarding securities. Full and fair disclosure means your broker is required to tell you the truth about your stocks; they are not allowed to make any unfair or deceptive statements about those investments, nor are they allowed to act on your behalf if they have omitted any key information that would prevent you from making an informed investment decision. Information is considered “material” when a rational investor would consider the facts important to the overall mix of information when deciding upon an investment strategy.
Examples of unlawful misrepresentations or omissions might include:
- Misstating a company’s revenue or profit margin
- Omitting the fact that a company is under investigation by the SEC or other federal regulators
- Explaining the advantages of an investment but failing to mention any of the disadvantages
- Omitting the fact that the broker or firm gets a kickback for referring investors to a specific company or product
- Failing to disclose other conflicts of interest, such as a personal or financial relationship with a company or fund
Did Your Broker Lie to You or Leave Out Key Investment Information?
If you’ve been deceived by your stockbroker or other investment manager, and you were harmed as a result, you have the right to hold your broker accountable for their actions and the harm they’ve caused. Misrepresentations can be negligent or intentional. At the Kalfayan Law Firm, our banking fraud class action attorneys are well-versed in state and federal securities laws as well as financial institutions more broadly. We know how to spot a lie or omission, and we can help tie your fiduciary’s bad acts to the losses you have suffered. We’ll help you get back the money you lost and additional damages to compensate you for any other harm you have endured.
Call a Securities Fraud Class Action Lawyer at the Kalfayan Law Firm Today
For help with misrepresentations and omissions, deceptive practices, or other banking fraud class action claims in California or nationwide, contact the Kalfayan Law Firm in San Diego/Del Mar for a free consultation. We represent local individual plaintiffs and pursue class action litigation throughout the country with commitment and dedication to seeing the case through to the end.