Immediate annuities and immediate annuity products packaged in a variable annuity format typically include sub-account holdings with investments in the stock market, thereby constituting securities products. Most importantly, their value can decline with a drop in the stock market, with possibly devastating consequences. To read more about this topic, visit Stockbroker Law's blog at www.stockbrokerlaw.com.
Investment fraud and stockbroker fraud takes many different shapes and forms, and most investors don’t know their rights under the Securities Law. Wrongful trading activity in the accounts of the everyday American investor can include account churning, private placement fraud, breach of fiduciary duty, annuities fraud, stock manipulation, unauthorized trading, and embezzlement. Read more at Stockbroker Law Firm's Blog page.
Think you are a victimized investor and are seeking a securities fraud lawyer in Albany NY? Visit www.stockbrokerlaw.com.
On December 20, 2011 New York State Court of Appeals affirmed the order of the lower court dismissing the efforts of J.P. Morgan Investment Management, Inc., seeking a court determination that New York State’s Martin Act (General Business Law Art. 23-A) would preempt a victimized investor’s common law causes of action for breach of fiduciary duty and gross negligence.
In so holding, the Court held in Assured Guaranty (UK), Ltd. v. J.P. Morgan Investment Management, Inc.:
…we agree with plaintiff that the Martin Act does not preclude a private litigant from bringing a non-fraud common-law cause of action (decision), also noting “an injured investor may bring a common law claim (for fraud or otherwise) that is not entirely dependent on the Martin Act for its viability.”
We offer a free initial consultation to investors who feel they may have been victimized by the wrongdoing of an investment manager.
Timothy J. O'Connor has been practicing Stockbroker and Personal Injury Law for more than 25 years. If you've lost money through the unsuitable, unauthorized, or fraudulent trading activities of your stockbroker, we can help you determine if it's possible to get your money back.
In addition, we provide legal representation in formal arbitration proceedings in order to claim and collect the money that's rightfully yours. We offer an initial consultation free of charge to help determine whether or not you have a valid claim for recovery.
Because we usually work on a contingency fee basis, we charge no legal fees unless a recovery is made. Clients remain responsible for all costs and disbursements incurred in pursuing a client claim. Please contact us for any additional information you might need.