Personal Injury Law

Securities Arbitration Cases for Retirees

By Louthian Law Firm

Continuing our conversation of Securities Arbitration cases for defrauded retirees, the common plaintiff in these cases all share similar characteristics:

? The individual has taken early retirement in the past three to five years
? The person purchased a variable annuity with retirement funds which was then placed in an individual retirement account (IRA) or;
? The retirement fund consisted of a cost-basis employer stock plan which was then converted to a rollover IRA or;
? The individual was advised to invest retirement funds into leveraged funds.

Due to the fact that numerous securities companies engage in the sale of these products, there is no common defendant to file claims against. Individuals will be dealing with different securities firms depending on their location, employer, and other factors. A commonality does exist, however, in that the cases must be brought before the Financial Industry Regulatory Authority, or FINRA, for resolution. FINRA was created as the dispute resolution forum after the merger of NASD and NYSE in 2007.

Full post as published by South Carolina Lawyer Blog on March 31, 2008 (boomark / email).