Customer Disputes

LGWM has extensive litigation experience representing registered representatives, broker dealers and investment advisors in a wide arrange of customer disputes ranging from singe customer selling away and suitability cases to complex multiple plaintiff actions. We routinely handle customer disputes in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi and Tennessee. We have also handled customer disputes in Arizona, California, New York, North Carolina, Ohio, Pennsylvania and South Carolina.

We have experience with almost every securities product and investment strategy (common and exotic). Our experience is very diverse, including individual stocks, bonds, options, mutual funds, annuities, private placements, REITs, investment contracts and asset backed securities. The claims typically involve suitability, churning, misrepresentations and statutory claims, as well as claims relating to wrap accounts, individual accounts, IRA accounts and trust accounts.

Some of our more notable cases include a 30-day arbitration in New Orleans, Louisiana representing a broker dealer and registered representative against over 100 individual customer complaints alleging the fraudulent sale of an international telecom security with claims in excess of $25 million, representing a registered representative against multiple customer complaints involving the sale of variable annuities with total claims in excess of $10 million, and representing a broker dealer in numerous customer complaints and regulatory actions brought by state securities commissioners alleging unauthorized trading and churning where the claims were in excess of $5 million. We have developed a knowledge base that allows us to quickly analyze customer disputes so that the matter can be effectively handled in terms of results and costs.