Securities Fraud Lawyers. More than 50 years of landmark results.
Delivering results in Securities Litigation & Securing recovery for investors harmed by corporate fraud and malfeasance.
Lowey Dannenberg has been a leader in the securities litigation field for more than 50 years, filing some of the first class actions on behalf of investors impacted by violations of the securities laws. Courts recognize these skills, appointing Lowey Dannenberg’s securities litigation attorneys as lead counsel in several recent securities class actions. Since 1967, Lowey Dannenberg has represented investors and major corporations in complex litigation, recovering billions of dollars on their behalf.
Bernie Madoff Ponzi Scheme.
Lowey served as lead counsel representing the New York City Pension Funds and the certified class of investors against one of the nation’s largest hospital systems, Community Health Systems (“CHS”). After nearly 9 years of hard-fought litigation at the district court and appellate levels, Lowey achieved a $53 million settlement with CHS and the company’s CEO and former CFO, which was finally approved in all respects on June 19, 2020 and provided redress for investors in CHS common stock from July 2006 through October 2011.
Norfolk Retirement Systems v. Community Health Systems, Inc., No. 11-cv-00433 ( M.D. Tenn.) (ETR).
Lowey Dannenberg served as class counsel, successfully challenging a multi-billion-dollar merger between Xerox Corp. and Affiliated Computer Systems (“ACS”), which overcompensated ACS’ former Chairman Darwin Deason at the expense of other shareholders. Following expedited proceedings, Lowey achieved a $69 million settlement, one of the five largest settlements in Chancery Court history at the time, as well as structural protections in the shareholder vote on the merger.
In re ACS Shareholder Litigation, Consolidated C.A. No. 4940-VCP (Del. Ch.)
Lowey Dannenberg served as lead counsel, representing the New York City Pension Funds and related class members, alleging that Juniper Networks, Inc. fraudulently concealed the backdating of millions of stock options, resulting in a $900 million financial restatement. Lowey secured a $169.5 million settlement with Juniper and certain officers and directors and a $500,000 settlement with Ernst & Young LLP, the company’s auditors, one of the largest settlements in an options backdating case.
In re Juniper Networks, Inc. Sec. Litig., No. 06-04327 JW (N.D. Cal)
Lowey Dannenberg’s innovative strategy and aggressive prosecution produced an extraordinary recovery for the New York City Pension Funds in the In re WorldCom, Inc. Securities Litigation, substantially superior to that of any other WorldCom investor in either class or opt-out litigation. Following our advice to opt out of a class action in order to litigate their claims separately, the New York City Pension Funds recovered almost $79 million, including 100% of their damages resulting from investments in WorldCom bonds.
In re WorldCom, Inc. Sec. Litig., No. 02 Civ. 3288 (S.D.N.Y.)
LOWEY DANNENBERG represents investors who have suffered losses due to broker fraud, negligence, or mismanagement. Our clients include individuals, companies, and investment funds that have suffered losses in stocks, bonds, options, mutual funds, currencies, annuities, real estate investment trusts (REITs), and other types of investments.
LOWEY DANNENBERG attorneys have handled hundreds of FINRA arbitrations throughout the country and are well-known by the attorneys defending Wall Street, regional brokerage firms, and investment banks.
Financial advisors should not make an investment recommendation without first understanding the client’s investment objectives and risk tolerance. In addition, financial advisors have a duty to disclose all material information regarding a recommended investment and explain the risks associated with it.
If your advisor breached these duties, our attorneys may be able to help you receive compensation for the damages you suffered.
We represent investors who have suffered losses in their savings or retirement funds because their brokerage firm or financial advisor committed fraud, acted negligently, or failed to act in their client’s best interest.
It is important that you regularly monitor your account for broker misconduct. If you have suffered significant losses on your investments, our attorneys can review the trading history of your account to determine if investment fraud may have occurred.
Common types of securities fraud and broker misconduct include:
Churning: Churning occurs when a stockbroker recommends frequent trading solely for the purpose of generating commissions. Our attorneys will review your account statements and determine if your broker has advised you to make excessive trades. If churning has occurred in your account, we may be able to help you recover compensation for your losses.
Unsuitability: A broker has a duty to “know his or her client.” Your financial adviser must discuss with you the level of risk with which you are comfortable and invest your assets accordingly. If a financial advisor recommends securities that do not meet your risk tolerances and investment objectives, and you suffer losses, your may be entitled to legal relief through a securities fraud lawsuit. The attorneys at Lowey Dannenberg can review the investments in your portfolio to determine if your financial advisor has invested your assets in securities that are unsuitable for your objectives and level of risk tolerance.
Breach of Fiduciary Duty: A securities broker has a fiduciary duty to act in the client’s best interest at all times. This duty may have been breached if your investment adviser puts his or her financial interests ahead of your financial interests. For example, if a broker sells certain mutual funds or other securities because he or she will receive a higher rate of commission than similar, better performing investments, you may have grounds to file a breach of fiduciary duty lawsuit.
Over-Concentration: Diversification is an important component of a successful investment portfolio. When a stockbroker fails to properly diversify your investments, leaving your account exposed to only a few securities or a single sector of the economy, you may be able to recover your losses through a securities fraud lawsuit. Our attorneys can evaluate your investment portfolio to determine if you have grounds to recover compensation against your brokerage firm.
Unauthorized Trading: In general, a stockbroker must obtain your permission before buying or selling securities on your behalf. If your broker fails to receive approval prior to executing a trade, he or she may have broken the law. Furthermore, a broker cannot exceed his or her authority by receiving commissions on trades that are not suitable for a client’s account.
Mutual Fund, Bond, or Annuity Switching: Similar to churning, this type of securities fraud occurs when a financial advisor recommends a client sell a particular group of mutual funds, bonds, or annuities and then repurchases a nearly identical instrument to generate a commission for the broker.
Margin Claims: Our securities fraud attorneys handle cases involving brokers who negligently recommend that customers borrow on margin to purchase securities and then require the customer to sell the securities, without prior notice, to pay off the margin balance. If you believe that your broker has recommended that you trade on margin solely to generate revenue for the brokerage firm, you may be able to recover your losses through a securities fraud lawsuit.
Ponzi-Scheme Victims: Our attorneys represent the victims of Ponzi schemes and other types of financial theft.
Lowey Dannenberg handles investment and securities cases on a contingency-fee basis, so you do not need to pay any fees upfront to fund your case.
Rather, we only receive a fee if we recover money for you. Essentially, when we take on your case, we become your partner in recovering damages. Because the contingency-fee model aligns the financial interests of the client and attorneys, our only incentive is to obtain the highest possible recovery in your case.
If you believe you have suffered losses due to broker misconduct, contact us immediately for a no cost and no obligation case review form today.
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