ISRAELS & NEUMAN, PLC – Florida Securities and Investment Fraud Attorneys

Section 301 of the Florida Securities and Investor Protection Act

Israels & Neuman are securities arbitration and investment fraud attorneys that represent Florida residents who have been harmed by the conduct of their stockbrokers and brokerage firms.  Our attorneys have previously represented numerous Florida investors who have been the victims of unsuitable investment recommendations, fraud, and theft, including the following:

  1. Represent a victim of a PONZI scheme run by former Miami area financial advisor Phil D. Williamson;
  2. Represented victims of an alleged fraudulent scheme run in Pinellas County called Tri-Med Corporation;
  3. Represented numerous Florida investors who lost money in the Morgan Keegan bond fund collapse;
  4. Represented numerous Florida investors who lost money in the Charles Schwab YieldPlus bond fund collapse;
  5. Represent a Tampa area investor who lost money in penny stocks; and
  6. Represented investors in the Tampa area who lost money in non-traded real estate investment trusts (REITs) and private placements.

Florida residents are protected by the provisions of the Florida Securities and Investor Protection Act.  This Act provides for the regulation of the sale of securities to Florida residents and to Florida financial advisors and stockbrokers.  Additionally, the Florida Division of Securities, with offices in Tallahassee, was created to help enforce the provisions of the Florida Securities Act.

Section 301 of the Florida Securities and Investor Protection Act provides for liability if a financial advisor, stockbroker, or investment advisor misrepresents the risks of an investment to you.  In particular, this statute provides that:

(1) It is unlawful and a violation of the provisions of this chapter for a person:

(a) In connection with the rendering of any investment advice or in connection with the offer, sale, or purchase of any investment or security, including any security exempted under the provisions of s. 517.051 and including any security sold in a transaction exempted under the provisions of s. 517.061, directly or indirectly:

1. To employ any device, scheme, or artifice to defraud;

2. To obtain money or property by means of any untrue statement of a material fact or any omission to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they were made, not misleading; or

3. To engage in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon a person.

See Fla. Stat. § 517.301(1).  This Act also allows for civil remedies in the event that this statute is violated:

(4) In an action for damages brought by a purchaser of a security or investment, the plaintiff shall recover an amount equal to the difference between:

(a) The consideration paid for the security or investment, plus interest thereon at the legal rate from the date of purchase; and

(b) The value of the security or investment at the time it was disposed of by the plaintiff, plus the amount of any income received on the security or investment by the plaintiff.

See Fla. Stat. § 517.211(4).

If your financial advisor or stockbroker makes misrepresentations to you when selling securities, he or she may be liable for your losses.  In addition, the brokerage firm that your advisor works for may also be liable.

Israels & Neuman PLC is a securities arbitration and investment fraud law firm with offices in Denver, Colorado and the Seattle, Washington area.  We represent investors in FINRA arbitration and securities arbitration proceedings in all 50 states, including representing investors throughout Florida, and in Miami, Fort Lauderdale, Jacksonville, Tampa, Orlando, Sarasota, Fort Meyers, St. Petersburg, Clearwater, Hialeah, Tallahassee, Port St. Lucie, Pensacola, Cape Coral, Pembroke Pines, West Palm Beach, Gainesville, and Coral Gables.

Our attorneys have represented over one thousand investors against many brokerage firms in the past.  Attorney David Neuman is has been licensed to practice law in Florida since 2010 and has been representing investors since 2006.

Click to view:  FL Securities and Investor Protection Act

If you are a resident of Florida and lost money with your financial advisor or investment advisor, please CONTACT ISRAELS & NEUMAN at (206) 795-5798 or (720) 599-3505 for a free evaluation of your case.