Jul 222012

In times of economic hardship and crisis, cases of stock broker fraud increase. People are desperate to recoup some of the losses caused by the economic crisis. So, mismanagement and fraudulent schemes abound. In cases of stock broker fraud, there may be claims available under both federal and state law.

Claims Available Under the Pennsylvania Securities Act

Under the Pennsylvania Securities Act, brokers who offer, sell or otherwise purchase any security in the state may not engage in any of the following activity:

  • fraud,
  • deceit,
  • material misrepresentations of fact,
  • insider trading, and
  • market manipulation.

In addition, the Act prohibits investment advisors from engaging in similar conduct. More importantly, advisors may be liable for failing to disclose a conflict of interest.

Recovering Damages Against a Stockbroker or Investment Advisor Under the Pennsylvania Securities Act

The Pennsylvania Securities Act permits victims of stockbroker fraud and mismanagement to file legal claims to recoup their losses. Under the Act, the following kinds of financial damages may be recovered in a stock broker fraud case:

  • investment fees,
  • difference in the price of the stock,
  • distributions or income in cash or in kind, and
  • interest.

Also, in some instances, punitive damages may be appropriate.

Related Legal Information: Pennsylvania Securities Civil Litigation Article: The Statute of Limitations in Securities Cases

For more information, contact our Pennsylvania securities and stockbroker fraud lawyers. Call 215.925.4451.

The lawyers at Schwartz & Blackman handle securities litigation matters in the Pennsylvania and New Jersey area:

  • PA: Berks County, Bucks County, Chester County, Delaware County, Montgomery County, Philadelphia County, Allentown, Lehigh Valley, Norristown, Philadelphia
  • NJ: Atlantic County, Burlington County, Camden County, Gloucester County, Mercer County, Middlesex County, Monmouth County, Camden, Cherry Hill, New Jersey shore cities

*This website does not provide legal advice. Every case is unique and it is important to get a qualified, expert legal opinion prior to making any decisions about your case. See the full disclaimer at the bottom of this page.

Published: July 22, 2012

© 2017 Schwartz and Blackman
Two Liberty Place, 50 South 16th Street, Fl 28, Philadelphia, PA 19102 | PHONE: (215) 925-4451 | FAX: (215) 574-1200

*DISCLAIMER: This website does not create any attorney-client relationship or provide legal advice. The lawyers at Schwartz and Blackman provide legal advice only after accepting a case. It is imperative that any action taken is done on advice of counsel. Since each case is unique, discussion of prior outcomes and settlements in past cases is no guarantee of a similar outcome in current or future cases. The use of contact forms on this site does not establish any attorney-client relationship. Confidential or time-sensitive information should not be sent through them. The AV rating of Martindale-Hubbell, Super Lawyers and organizations that rate attorneys are not designations that have been approved by the State Supreme Courts or the American Bar Association. The ratings and opinions reflect members of the Bar Association and the Judiciary. PRIVACY POLICY

Web Design and SEO legal website content/attorney website content by LCL Web Solutions, Legal Web Content for Lawyers by Lawyers

Suffusion theme by Sayontan Sinha