Q. How does the case proceed?

A. The case may proceed in two ways:

Arbitration:

If there is a binding arbitration clause in your contract, the parties must resolve the dispute in arbitration. Securities arbitration is moderated by private, impartial parties who have a particular knowledge of the securities industry. This avoids unnecessary and expensive litigation in the courts and helps to facilitate a better outcome for the parties.

The arbitration process has some similarities to court proceedings. There is an exchange of pleadings and request for information. After preparation, there is a hearing before the arbitration panel, which will eventually render a decision. This decision has the binding effect of a court order.

Court of Law

If there is no arbitration clause in your contract, the parties will resolve the dispute in a court of law. In court, a complaint is filed on behalf of the victim. If the parties are unable to settle the dispute, the case will go before a jury.

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Q. How long will the process take?

A. If the parties can agree to settle, the case may sometimes be resolved in less than six months. If the case goes to trial, the case generally will last at least 1 year. The more complex the case, the longer it will take to resolve.

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Q. How long do I have to bring my claims?

A. This depends upon the type of claim at issue and the state in which the events occurred. Statutes of limitation apply to securities claims. Certain types of claims might be extinguished in as little as one year, while other claims might survive for longer periods. However, once the time limit has run, the affected claim may be gone forever. The smartest thing you can do is to seek competent legal advice as soon as you suspect that there may have been wrongdoing in your investment account.

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Q. How much will this process cost?

A. In many instances, clients who have suffered investment losses cannot afford or do not wish to incur hourly attorney fees. Our office will work with you to make proper financial arrangements.

In some cases we will provide services for clients on a contingent fee basis. The fee is “contingent” because its payment depends on whether we are successful in recovering money for you. If we don’t recover, you don’t pay us. If we do recover, our fee will be a pre-arranged percentage of the gross recovery. The only cost to you will be the expenses of the litigation. These include filing and session fees assessed by the arbitration forum and costs incurred for experts, travel, court reporter services, copying, delivery, and long distance telephone calls. It is our standard practice to describe the contingent fee and expense reimbursement arrangements in a written fee agreement to ensure that you are fully informed before you retain us.

In some cases we will charge an agreed hourly fee. In others, we will arrange a hybrid agreement which is a reduced hourly rate combined with a reduced contingency fee rate.

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Q. Does the initial consultation cost money?

A. No. The initial review of your case is free of charge.

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Q: How long does the arbitration process take?

A. The arbitration process usually takes about 12 months.  However, every case is different and thus terms may vary.

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