Securities Law

As an investor, you are entitled to honest and fair treatment by persons who represent start-up companies, development stage companies (promoters or agents) and investment professionals such as stockbrokers, money managers, and financial planners. If you have lost money due to the conduct of promoters, agents or investment professionals, you may have a claim to recover your damages. At Gallup Law Firm, P.C., this firm represent investors who have suffered financial damages in civil litigation in State and Federal Courts and through arbitration before the NASD and NYSE nationwide, including in Utah. This firm has won civil and arbitration awards for our clients, and have handled many securities cases. In addition, this firm represents persons charged with securities fraud and has successfully litigated these types of cases in the criminal area.

There are many ways a stockbroker, money manager, or financial planner can improperly cause his clients to lose money, such as:

Suitability: It is your broker’s job to look out for your best interests when investing your money. By law, a stockbroker must recommend only the purchase of securities that are suitable for the customer in light of the customer's investment objectives, risk tolerance, and financial resources. You may have a claim for unsuitable investments even if you agreed to the transaction, since the broker has the legal obligation not to recommend unsuitable securities.

Churning: “Churning” refers to a stockbroker trading an investor’s account excessively in order to create high commissions for the broker or their firm.

Fraud: This firm particularly specializes in this area of securities law. Before you make an investment decision, you are entitled to the whole truth and nothing but the truth. If you agreed to the purchase or sale of securities based upon a false statement, or the failure to disclose negative information (omission), you may have a claim for fraud.

Unauthorized Trading: Before a transaction is made in your brokerage account, you must be informed of the stock to be purchased, the quantity and the dollar amount. If there were transactions that you did not authorize, you may have a claim.

Variable Annuity Abuse: Variable Annuities are investments that are part securities and part insurance. The primary benefit of variable annuities, is the deferral of taxes. Variable annuities, however, carry very high expenses, and earn brokers very large commissions. There often are surrender charges if you wish to cash in the investment. Variable annuities are not suitable for all investors, however, since other investments often can gain you most of the benefits without the high cost and surrender charges. Variable annuities are particularly unsuitable in retirement accounts where you are entitled to tax deferral without the high cost of an annuity.

If you have any questions, or if you would like to speak with Attorney Gallup regarding your legal issue, please feel free to call our Salt Lake City, Utah office at (801) 685-7777. You may also fill out the form on the Contact Us page of this website, and a lawyer from our office will be in touch with you promptly.