If you believe you've been the victim of stockbroker fraud in Indiana, you need to take certain action steps to protect your rights, and potentially recover the money that you have lost. Below are three of the most important steps you should take, and why.
Action step 1
Contact a securities fraud attorney as soon as possible. If you've got suspicions of fraud or misconduct on the part of your stock broker, this is not the type of thing you should really try to handle on your own. An experienced investment fraud attorney will be able to first, identify if you've really been the victim of fraud, and if so, what actions should be taken to bring a claim against the perpetrators. There are time limits for bringing claims, which vary depending on the jurisdiction and the type of claims brought. Immediate action may be necessary to preserve your claim, so it does not become time barred. In Indiana, contact Starr Austen.
Action step 2
Provide your attorney with all documentation and other records of communication that you've had with your broker. For an attorney to fully evaluate your claim, and determine the right course of action for you, it is important to provide him or her with all of the documentation you possess from your stock broker or brokerage firm, from the first day you started doing business with them until the present. This may require some digging on your part, but it is effort well spent to give your attorney an accurate representation of the history between the parties.
Action step 3
Don't waste time filing an informal complaint with the brokerage firm. Finally, don't be tempted to wait on the first two action steps, and instead make a complaint to the brokerage firm itself. These internal complaints are known to be slow and tedious, without getting much accomplished, and with good reason. As stated previously, there are time limits for you to bring a cause of action for stock broker fraud, and companies may purposefully draw out the process while the clock ticks away your time limits, potentially barring you from ever recovering your losses.
Action step 1
Contact a securities fraud attorney as soon as possible. If you've got suspicions of fraud or misconduct on the part of your stock broker, this is not the type of thing you should really try to handle on your own. An experienced investment fraud attorney will be able to first, identify if you've really been the victim of fraud, and if so, what actions should be taken to bring a claim against the perpetrators. There are time limits for bringing claims, which vary depending on the jurisdiction and the type of claims brought. Immediate action may be necessary to preserve your claim, so it does not become time barred. In Indiana, contact Starr Austen.
Action step 2
Provide your attorney with all documentation and other records of communication that you've had with your broker. For an attorney to fully evaluate your claim, and determine the right course of action for you, it is important to provide him or her with all of the documentation you possess from your stock broker or brokerage firm, from the first day you started doing business with them until the present. This may require some digging on your part, but it is effort well spent to give your attorney an accurate representation of the history between the parties.
Action step 3
Don't waste time filing an informal complaint with the brokerage firm. Finally, don't be tempted to wait on the first two action steps, and instead make a complaint to the brokerage firm itself. These internal complaints are known to be slow and tedious, without getting much accomplished, and with good reason. As stated previously, there are time limits for you to bring a cause of action for stock broker fraud, and companies may purposefully draw out the process while the clock ticks away your time limits, potentially barring you from ever recovering your losses.
About the Author:
As a securities law firm in Indiana, Starr Austen & Miller has handled these and many other forms of investment advisor malpractice. If you believe you have been taken advantage of, contact StarrAusten right away. We can help you know if you have a legitimate securities fraud case.
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