Scott Silver, Managing Partner of Silver Law Group, is the current co-chair of the Securities and Financial Fraud group of the American Association of Justice (“AAJ”). On July 28, 2014, during the 2014 AAJ Annual Convention in Baltimore, Maryland, Scott gave a well-received presentation titled “How to Win an Alternative Investment Case.” AAJ, also known as the Association of Trial Lawyers of America, is the world’s largest trial bar and promotes justice and fairness for injured persons and safeguards victims’ rights.
The theme of the presentation focused on the rise of Alternative Investment or Product cases over the last several years. Driven by its desire to replace commissions lost as investors realize stocks and bonds can be traded at discount firms for less than ten dollars a trade, Wall Street has introduced many new Alternatives to investors. However, many of the new, complex Alternatives can be riddled with fees, conflicts of interest, and are frequently more speculative than marketed by the firms. Several recent FINRA arbitration claims focus on products which lose substantially all of their value in a short time. FINRA has seen a rise in arbitration claims where multiple investors all seek damages relating to the same Alternative Investments or Product and where one or more of the asserted claims center around allegations regarding the widespread mismarketing or defective development of a specific investment.
Alternative Investments which have been the subject of recent FINRA claims include:
- Leveraged bond funds, including bond funds issued by UBS in Puerto Rico;
- Private placements or other products which offer substantial income but fail to protect the investor’s principal over a long period of time; and
- Structured products which are frequently designed by major Wall Street firms and fail to meet their stated objectives.
Scott Silver is a frequent lecturer on securities and investment fraud cases and is a strong proponent of investor rights. Mr. Silver frequently speaks to investor groups at no charge about avoiding the “wolves” of Wall Street and other topics of interest to investors. The attorneys at Silver Law Group regularly represent investors in state or federal court and routinely handle FINRA arbitration claims.
If you have questions about your legal rights, would like to invite Mr. Silver to speak to your group, or have been the victim of investment fraud, please contact Scott Silver of Silver Law Group for a free consultation at ssilver@silverlaw.com or Toll Free at (800) 975-4345.