Soreide Law Group (+1-888-760-6552), a law firm based in Pompano Beach, Florida, updates its services for victims of securities fraud.

Pompano Beach, United States - April 22, 2024 —

As part of its updated service, the firm can help clients file churning cases before the Financial Industry Regulatory Authority (FINRA), which arbitrates cases against brokerage firms. This alternative to litigation can lead not only to faster resolutions, but also lower legal costs.

More information about Soreide Law Group is available at https://www.securitieslawyer.com/

Churning is, according to the the Securities & Exchange Commission, a broker's excessive trading in a customer's account that may violate the suitability rule. Excessive trading (or churning) may be thought of as quantitative unsuitability. Excessive trading occurs when a broker has control over trading in a customer account and the level of activity in that account is inconsistent with the customer's objectives and financial situation. A broker who does not have formal discretionary authority over an account may still exercise de facto control of the account. De facto control exists where a customer relies on a broker's advice to such a degree that the customer does not independently evaluate the broker's recommendations and exercise independent judgment. Such reliance can be established by evidence that the customer is unsophisticated and routinely followed the broker's advice. Although a securities account may be non-discretionary, a broker may still effectively exercise de facto control where a customer places his trust and faith in a broker and routinely follows his broker's advice.

The legal practice's enhanced service targets investors who have suffered financial losses due to misleading or inaccurate advice from their stockbrokers. This includes over-concentrated portfolios, unauthorized trades, unsuitable investments, overtrading, and excessive use of margin, all of which breach an advisor’s fiduciary duty to clients.

Roughly 1.5 million people annually fall victim to bad advice given by unscrupulous financial advisors. For this reason, FINRA was established in 2007 to ensure that brokerages and financial advisors in the US comply with securities laws.

Beyond regulation, FINRA also operates the largest arbitration forum for disputes between investors and brokerages, explains Atty. Lars Soreide, who leads the firm. During arbitration, a neutral third party will review the case and then render a final decision on the settlement amount. Atty. Soreide notes that this decision is binding since the two parties do not have to agree on the payout (unlike with mediation), which makes the process more efficient.

Soreide Law Group’s team has a proven track record of success, securing financial recovery in 90% of cases handled. Its principal lawyer highlights that many of these victories were against major Wall Street brokerages, a testament to the firm’s legal mettle.

The practice acknowledges that many victims of securities fraud face dire financial straits, which is why it charges no upfront costs. Attorneys will only bill clients after they successfully recover their losses, removing one of the key barriers that prevent victims from seeking legal assistance.

Atty. Soreide says: “We are committed to protecting investors and holding bad actors accountable. Our customer-first approach to legal services ensures that you do not have to worry about expensive legal bills on top of your investment losses. When you work with us, you work with a team that truly cares for your financial well-being.”

The law firm also offers preliminary legal consultations at no cost. Interested parties may visit https://www.securitieslawyer.com/ to book an appointment.

Contact Info:
Name: Lars Soreide
Email: Send Email
Organization: Soreide Law Group
Address: 2401 East Atlantic Boulevard Suite 305, Pompano Beach, Florida 33062, United States
Website: https://www.securitieslawyer.com/

Source: PressCable

Release ID: 89127808

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