Business / Commercial Litigation

Securities Unsuitability Fraud Lawyers

A broker or brokerage firm can be liable to you for the losses you sustain if the securities they recommend are too aggressive or otherwise unsuitable for you. A broker and a brokerage firm have a duty to recommend only “suitable” investments for a customer. A suitable recommendation is one that takes into consideration the investor’s individual situation, including the investor’s financial needs and tolerance for risk. By contrast, a recommendation that is unsuitable is one that fails to be appropriate for an individual investor given their specific situation and tolerance for risk.

The Financial Industry Regulatory Authority (FINRA) has rules implementing the Suitability Standard for Recommendations, also called the Suitability Rule.

NASD Conduct Rule 2310: Recommendations to Customers (Suitability)

  • In recommending to a customer the purchase, sale, or exchange of any security, a member shall have reasonable grounds for believing that the recommendation is suitable for such customer upon the basis of the facts, if any, disclosed by such customer as to his other security holdings and as to his financial situation and needs.
  • Prior to the execution of a transaction recommended to a non-institutional customer, other than transactions with customers where investments are limited to money market mutual funds, a member shall make reasonable efforts to obtain information concerning:
    • The customer’s financial status
    • The customer’s tax status
    • The customer’s investment objectives
    • Such other information used or considered to be reasonable by such member or registered representative in making recommendations to the customer

The NYSE has codified its “Know Your Customer Rule” as Rule 405, Diligence as to Accounts, which provides:

  • Every member organization is required to:
     
    “Use due diligence to learn the essential facts relative to every customer, every order, every cash or margin account accepted or carried by such organization and every person holding power of attorney over any account accepted or carried by such organization.”
     
    If you believe that you have been a victim of an unsuitable securities recommendation or any type of securities fraud, you have certain rights which you should be aware of, rights which may provide you an opportunity to recover your losses from your stockbroker or brokerage firm.

Our securities fraud attorneys represent victims of securities fraud. We’ll evaluate your claim for free and won’t charge you any attorneys’ fees unless and until we win or settle your claim. Please contact us today.

 November 8, 2019

Injured? Med Pay Benefits May Be Available

Injured? Med Pay Benefits May Be Available Medical payment insurance, or “med pay” for short, is a type of insurance that provides for the payment of an injured person’s medical bills- up to a certain amount- if there has been an accident, regardless of who was at fault. Although one can purchase med-pay insurance as… Read more »

 November 6, 2019

BURG SIMPSON: “BEST LAW FIRM 2020” RECIPIENT

BURG SIMPSON: “BEST LAW FIRM 2020” RECIPIENT ABOUT THE “BEST LAW FIRMS” LIST U.S. News & World Report and Best Lawyers cooperatively released its tenth annual list of “Best Law Firms” rankings. Burg Simpson was included as a #1 National Ranked law firm for Mass Tort Litigation & Class Action suits. Firms included in the 2020 Edition of… Read more »

 November 5, 2019

Channel 7 Interviews Burg Simpson About the “Human Body Part Case”

THE HUMAN BODY PART CASE Channel 7 interviews Burg Simpson About the “Human Body Part Case”: Michael S. Burg and David K. TeSelle, trial lawyers at the Denver-based firm of Burg Simpson Eldredge Hersh & Jardine, were recently interviewed by Denver’s Channel 7 about a once-secret black-market industry that involves the selling of human body… Read more »

 October 31, 2019

Burg Simpson is Proud to Sponsor the Rocky Mountain Children’s Law Center

Burg Simpson is proud to support the Rocky Mountain Children’s Law Center (RMCLC).  At the RMCLC, legal and clinical services are woven together to ensure that trauma-affected children and youth have safe and permanent homes, appropriate education, and the resources to address unmet emotional and physical needs. The mission of the RMCLC is to give… Read more »

Holding Pharmaceutical Companies Responsible – Mass Tort | Dangerous Drugs and Medical Devices

 November 12, 2019

Holding Pharmaceutical Companies Responsible – Mass Tort | Dangerous Drugs and Medical Devices

Burg Simpson’s Colorado mass tort attorneys have represented thousands of people who have suffered serious side effects after taking dangerous medications or those who have been hurt by a defective product.  If you have suffered injuries related to a defective drug or medical device, contact the Burg Simpson mass tort team at 303-790-2525.

bike-crash-safety

 November 8, 2019

Bike Crash Safety Video – Burg Simpson Personal Injury

The personal injury attorneys at Burg Simpson help fellow bicycle enthusiasts understand how to protect their rights after a bike crash and stay safe on the roads. If you have been hurt in a bike crash and need help, reach out to us today by calling our office or filling out our online free case… Read more »

7th Annual Jeremy Bitner Memorial Run for the Fallen Officers Fund

 July 1, 2019

7th Annual Jeremy Bitner Memorial Run for the Fallen Officers Fund

The Jeremy Bitner Foundation was established in honor of Englewood Police Detective Jeremy Bitner. Detective Bitner lost his life in the line of duty on May 28, 2012, after being struck and killed by a vehicle while performing a traffic stop. Jeremy served the Englewood Police Department for 8 years and during that time was assigned… Read more »

The 2019 Burg Simpson Scholarship Awards Dinner

 May 7, 2019

The 2019 Burg Simpson Scholarship Awards Dinner

The 2019 Burg Simpson Scholarship Awards Dinner was held at Maggiano’s on April 25th to recognize the ten winners of the firm’s annual scholarship competition. The firm’s founder Michael Burg, and shareholders Peter Burg and Stephan Marsh presented awards to the 2019 winners! This year’s recipients included Ms. Madison Frotten, Mr. Dale Kim, Ms. McKenna… Read more »

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