Frequently asked questions

No — and in most cases you cannot. The United States Supreme Court ruled in 1987 that brokerage firms can require customers to sign binding arbitration agreements, so nearly all investor disputes go through FINRA arbitration rather than court. That is actually good news: arbitration takes far less time than court, costs less (depositions are rarely allowed), and the result is final — brokerage firms have very limited rights to appeal.

You can, but the numbers are brutal. In FINRA statistics for 2015 and 2016, pro se claimants who took their cases to hearing won only 8% of the time, compared to a 52% win rate for claimants represented by counsel. Securities arbitration has its own rules, procedures and gamesmanship — half the battle is forcing the brokerage firm to produce the documents that hurt them.

Nothing. I evaluate cases for free, and the evaluation has no downside other than your time. Sometimes after reviewing documents I advise that no action should be taken — and you come away knowing an experienced securities lawyer evaluated your case. More often, you learn whether you have a case worth pursuing, considering damages, strength of liability, and collectability.

The choice is yours — not the lawyer's. I take cases hourly, on contingency (I am paid a percentage only if you recover), or on hybrid arrangements: for example, hourly through the discovery phase, then switching to contingency; or a lower hourly rate paired with a lower contingency percentage. Colorado ethics rules require that clients be informed they have the right to choose the type of fee arrangement.

I will. I perform 100% of the work on your case — no associates, no paralegals handling the substance. I purposefully keep my caseload small so every client gets full preparation. Client preparation is paramount in arbitration: depositions are rarely allowed, so you tell your story exactly once, and you must be ready for the sometimes tricky and deceitful onslaught of questions from opposing counsel.

Arbitrations take place in the state where the investor resides, not where the stockbroker works — FINRA arbitration is a national system with one set of rules. I represent clients nationwide and have handled cases coast to coast, from Cleveland to Charlotte to Baltimore. For Colorado residents, hearings take place in Denver.

The most common: fraud and omissions (what the broker failed to tell you), unsuitable recommendations, excessive trading or churning, over-concentration in risky or illiquid products, unauthorized trading, and failure to supervise. Almost every case I handle involves a suitability violation. I also represent stockbrokers themselves in wrongful termination and U-5 defamation claims.

Yes, in the details. The Texas State Securities Board has passed regulations that really help investors. New Mexico focuses on affinity fraud, where a broker preys on members of an identifiable group — I have personally handled several affinity fraud cases. Arizona is considered an investor-friendly state, and awards there are often better than in other parts of the country. Wherever you are, FINRA rules and federal securities laws protect you.