Posts Tagged ‘investment fraud’

FINRA Arbitration Statistics – February 2011

Written on March 27th, 2011 by Jason M. Kueserno shouts

FINRA recently reported its February 2011 arbitration statistics. For the two-month period ended February 28, 2011, 837 claims were filed. This represents a decrease of 9% as compared to the number of cases filed in February 2010 (918).


The number of securities arbitration cases that closed during the first two months of 2011 increased by 16% (957 compared to 828 as of February 28, 2010). However, the average turnaround time for cases that go to an arbitration hearing also increased to 14 months from 11.8 months (16%). Approximately 19% of closed arbitration cases were decided by arbitrators, while 81% were settled (through negotiation or mediation), withdrawn, or closed for other reasons.


The most frequent securities and investment related claims involved in arbitration continue to be breach of fiduciary duty, misrepresentation (fraud), negligence, breach of contract, and suitability. Mutual funds and common stock also remain the most common type of securities involved in arbitration claims.


Investors have also prevailed in a larger percentage of cases decided (by arbitration hearing or on papers submitted by the parties). For the two-month period ended February 28, 2011, 91 cases had been decided and investors prevailed in 46 (51%) of those cases. This is good news for investors as it shows a continued trend in securities arbitration awards being issued in favor of investors. It is also the first time in recent years where the percentage of arbitration claims resolved in favor of investors exceeds 50%. This percentage also does not include cases that settled in favor of the investor, which FINRA notes to be approximately 76% in 2010.


The Kueser Law Firm represents investors in securities arbitration. If you feel that your investments have been mismanaged, please contact a securities fraud attorney to discuss your rights. If you would like to contact The Kueser Law Firm, please visit e-mail or call the firm at (816) 374-5865 to discuss your rights.

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Video: What are the typical causes of action in securities law cases?

Written on March 27th, 2011 by Jason M. Kueserno shouts


Also available at KansasCityLaw.tv
In this video, Jason M. Kueser discusses typical causes of action in securities cases. These typical actions are: (1) fraud, (2) securities fraud, (3) breach of fiduciary duty, (4) breach of contract, (5) violation of state securities laws, (6) violation of federal securities laws, and (7) negligence.

This video is provided for informational purposes only and nothing contained herein is or should be constituted as legal advice. If you have questions related to any legal topic, you should consult with an attorney and should not rely solely upon information provided via the internet.
The choice of an attorney is an important one and should not be based solely upon advertisements such as this website. Past results afford no guarantee of future results. Every case is different and must be judged on its own merits. *Any information submitted via this website may not be secure and/or confidential. Merely contacting this firm does not establish an attorney-client relationship.

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FINRA Arbitration Statistics – December 2010

Written on February 1st, 2011 by Jason M. Kueserno shouts

FINRA recently released its arbitration statistics for the month/year ended December 2010.

For the year, there were 20% fewer cases filed (5,680 v. 7,137 in 2009) and there were 6,241 cases closed (a 37% increase over 2009). Of these cases, 22% were resolved by arbitration hearing, 52% were resolved by direct settlement between the parties, 10% were resolved through mediation, and 16% of cases were either withdrawn or resolved through “other” method.

Results for investors also improved in 2010, as 47% cases that were decided by an arbitration panel resulted in an award of damages to the customer. This reflects a 2% increase over the results in 2009, and a 10% increase compared to arbitration claims decided by arbitration panels in 2007 — the worst year, for investors, in arbitration claims over the past six years.

The overall turnaround time for cases closed during the year also increased to 12.7 months (from 11.5 months in 2009). For cases that are resolved after an arbitration hearing, the turnaround time increased to 15 months (from 14 months in 2009).

The most common claims in arbitration were: (1) Breach of Fiduciary Duty; (2) Negligence; (3) Fraud/Misrepresentation; (4) Failure to Supervise; and, (5) Breach of Contract. The most common type of securities involved in arbitration claims were mutual funds and common stocks.

The Kueser Law Firm represents investors in securities arbitration. If you feel that your investments have been mismanaged, please contact the firm to discuss your rights.

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FINRA Securities Arbitration Statistics – January 2010

Written on March 1st, 2010 by Jason M. Kueserno shouts

FINRA recently reported its January 2010 arbitration statistics. For the month ended January 31, 2010, 456 claims had been filed. This represents a decrease of 14% as compared to the number of cases filed in January 2009 (528). The average turnaround time for cases that have resulted in an arbitration hearing (i.e., cases that did not settle prior to the hearing) has declined by 11% (11.6 months from 13.0 months).

In addition, FINRA has also noted a significant increase in the number of cases in mediation. Through January 31, 2010, parties in 75 cases had agreed to mediation, which is 92% greater than the number of cases (39) under a mediation agreement in through January 2009. Cases in mediation were closed in approximately 121 days.

The most frequent securities and investment claims/controversies involved in arbitration continue to be breach of fiduciary duty, misrepresentation/fraud, negligence, failure to supervise, oission of facts, and breach of contract. Mutual funds and common stock also remain the most common type of securities involved in arbitration claims.

During the month of January, 350 cases closed. Of those, 52 were decided by arbitrators (39 closed as the result of an arbitration hearing and 13 closed after an arbitrator reviewed documents submitted by the parties) and the remainder were closed as the result of settlement, withdrawn claims, and “other reasons.” Investors also won fewer cases, as a percentage of cases decided by arbitrators, than in the previous year as only 41% of investors who were seeking monetary damages were awarded any compensation. This is down from 45% in 2009.

The Kueser Law Firm represents investors in securities arbitration. If you feel that your investments have been mismanaged, please contact our firm to discuss your rights.

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FINRA Securities Arbitration Statistics – December 2009

Written on January 20th, 2010 by Jason M. Kueserno shouts

FINRA recently reported its December 2009 arbitration statistics. For the year ended December 31, 2009, 7,137 claims had been filed. This represents an increase of 43% as compared to the number of cases filed in 2008 (4,982). The average turnaround time for cases that go to an arbitration hearing has declined by 11% (14 months from 15.7 months).

The most frequent securities and investment claims/controversies involved in arbitration continue to be breach of fiduciary duty, misrepresentation/fraud, negligence, and breach of contract. Mutual funds and common stock also remain the most common type of securities involved in arbitration claims.

Investors have also prevailed in a larger percentage of cases decided (by hearing or on the papers). For the year, 669 cases had been decided and investors prevailed in 304 (45%) of those cases. This does not include cases that settled in favor of the investor, which FINRA notes to approximately 25%.

The Kueser Law Firm represents investors in securities arbitration. If you feel that your investments have been mismanaged, please contact our firm to discuss your rights.

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FINRA Securities Arbitration Statistics – October 2009

Written on December 1st, 2009 by Jason M. Kueserno shouts

FINRA recently reported its October 2009 arbitration statistics. As of October 31, 2009, 6,113 claims were filed, compared to only 3,971 as of October 31, 2008, an increase of 54%. FINRA also reported that 3,697 cases were closed through October and that the average turnaround time for cases that go to an arbitration hearing has declined by 9% (14.3 months from 15.8 months).

The most frequent securities and investment claims/controversies involved in arbitration continue to be breach of fiduciary duty, misrepresentation/fraud, negligence, and breach of contract. Mutual funds and common stock also remain the most common type of securities involved in arbitration claims.

Investors have also prevailed in a larger percentage of cases decided (by hearing or on the papers). As of October 31, 2009, 516 cases had been decided and investors prevailed in 236 (46%) of those cases. This does not include cases that settled in favor of the investor.

The Kueser Law Firm represents investors in securities arbitration. If you feel that your investments have been mismanaged, please contact our firm to discuss your rights.

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Recent Notable Securities Arbitration Filings

Written on August 21st, 2009 by Jason M. Kueserno shouts

InvestmentNews recently pubished two articles discussing recently filed securities disputes.

First, on August 19, Jeff Benjamin and Sue Asci reported that NBA star Carmelo Anthony filed a lawsuit in federal court against California adviser Larry W. Hamilton. The claim alleges that the adviser transferred $1.75 million of Mr. Anthony’s assets and invested an additional $265,000 with other companies without consent. The complaint seeks an accounting of the adviser’s books and records, $2 million in compensatory damages, and punitive damages. Mr. Anthony is represented by Robert Hirsch of Beverly Hills, California.

On August 20, Sara Hansard reported that a Freeport, Bahamas couple had filed a securities arbitration claim against Merrill Lynch. According to the article, the claim alleges that Merrill Lynch invested the couple’s money in unsuitable preferred stocks issued by financial companies.

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