About Our Firm and FINRA 2017-04-25T19:22:42+00:00

Securities Fraud Law

About our firm – Soreide Law Group PLLC

Focused On Helping Victims Of Stock Broker and Financial Advisor Fraud

Soreide Law Group, PLLC, is a securities litigation firm that is committed to helping victims recover financial losses due to fraudulent or negligent conduct on behalf of stock brokers or financial advisors. We are able to represent investors nationwide in the handling of their securities arbitration claims. Our securities lawyers have recovered investment losses due to stock broker negligence or securities fraud from almost every major Wall Street firm in the country. We have brought millions of dollars in securities arbitration claims on behalf of investors before FINRA. 9 out of 10 securities cases Soreide Law Group has brought on behalf of defrauded investors has resulted in a monetary recovery.

More About Filing Your Case Before FINRA

Rather than having their disputes decided by a judge and jury, participants to arbitration proceedings have their dispute resolved by a panel made up of typically 3 arbitrators who are knowledgeable in the area of securities laws and regulation. The U.S. Supreme Court decision, Shearson v. MacMahon, 482 U.S. 220 (1987) enforced mandatory binding arbitration clauses in the securities industry. One of the most important legal aspects of arbitration is that arbitration awards are final and binding, subject to review by a court only on a very limited basis. Every account opening document with every broker dealer in the country requires mandatory FINRA arbitration.
The Statement of Claim, may be in narrative or pleadings form. The Statement of Claim must specify the relevant facts of the dispute, detailing the nature of the dispute, the relevant dates, the transactions in dispute, the investments involved and the amount of damages sought, and the relief sought.
Securities arbitrations are conducted in the same manner that a court trial is held. There are opening statements; examination of witnesses, evidence is introduced by the claimant and by the respondents, and closing arguments. It is a formal proceeding and the arbitrators are typically attorneys, retired judges, and industry professionals who are skilled in the handling of evidentiary objections. Awards typically take one week before they are published
Customers are bound to FINRA arbitration by contract and registered representatives and their firms are contractually bound to arbitrate their disputes by their membership in the Financial Industry Regulatory Authority (“FINRA”), formerly the National Association of Securites Dealers (“NASD”). Upon applying for membership in the FINRA, the broker-dealer and the stock broker agreed to be bound by the rules of the FINRA.
Like the Statement of Claim, the Answer can be narrative or in pleadings form. The Answer will specify all of the available defenses that the party relies upon, and all facts relative to those defenses.
After the filing of all claims, answers and replies, FINRA will typically notify the party of the location of the hearing. The hearing location is typically the location where the investor was a resident of when the transactions at issue occurred. We represent investors Nationwide through the FINRA forum.
Arbitrations are commenced by filing a statement of claim within the applicable arbitration forum, together with a submission agreement and the required fees. The fees with the Financial Industry Regulatory Authority (“FINRA”) can range from $475 to $1,800 depending on the amount in controversy. Prior to filing the Statement of Claim, a good attorney will advise the client to have an initial damage analysis performed by a forensic accountant, which typically ranges from $500 to $2,500. Depending on the nature of the case a damage analysis may not be necessary. An expert in the securities or investment field may be retained to testify at the final hearing depending on the complexity of the case. We accept cases on a contingency fee basis meaning we do not get paid for our time we only get paid in the event of a recovery and we advance all costs so you will never write us a check to handle your case.
All parties are entitled to “discovery”, that is the exchange of documents prior to the actual trial. Discovery is a large part of the arbitration process and a good attorney will always participate as exhaustively in discovery as the case permits. In bringing an arbitration claim, customers and brokerage firms are required to exchange documents through what is called the discovery process. FINRA has compiled a list of documents that customers and brokerage firms must produce to each other in securities claims involving customer disputes. These documents include but are not limited to the clients: tax returns for relevant years, statements, trading confirmations, marketing material, correspondence, resume, statements from other brokerage accounts, and other relevant documents which tend to prove your claim.
FINRA arbitrations cases and mediations of securities and business disputes may be initiated through FINRA. There are two ways of resolving disputes between and among investors, brokerage firms, and individual brokers—FINRA arbitrations and FINRA mediations.

The FINRA arbitration process, the FINRA code of arbitration procedure, and the FINRA rules of arbitration procedures can be very confusing to someone who is new to the process. Soreide Law Group obtained the following information on FINRA’s website which was designed to help guide someone through, what can be a very daunting process.

The FINRA arbitration process begins with the filing a Statement of Claim and other documents with FINRA. The Statement of Claim includes a description of the dispute, the parties involved and the amount of money sought. This is the chance for the investor to explain the events pertaining to the dispute in chronological order. It is important to provide any documents mentioned in the statement that will support the claim.

FINRA also requires the filing of a Submission Agreement as part of the initial step in the arbitration process. This agreement lists the parties in the arbitration case and confirms that FINRA will be the administrator. It also establishes that if the case ends with a hearing, the parties agree to abide by the arbitrators’ decision. FINRA requires that the claimant submit the appropriate fees to start the proceeding.

Once the filing requirements are met, FINRA serves the Statement of Claim to the respondents identified in it. FINRA also analyzes the claim, looking for things like the size of the claim, to decide how many arbitrators will be needed, the nature of the dispute and the type of securities involved. FINRA fines can be assessed to companies by the mediator via the FINRA’s rules of arbitration.

The other way of settling a dispute is through a mediation.  A FINRA mediation offers an alternative to arbitration. A trained, impartial mediator facilitates negotiations between disputing parties, to help them find a mutually acceptable resolution to the dispute. If you’re involved in an arbitration case, you can request a mediation at any time before the arbitrators issue an award.

To mediate through FINRA, one or both parties may file a Request for Mediation. FINRA will contact the other party or parties to determine their interest, explain the mediation process and seek their agreement to mediate. If the parties agree to mediation, FINRA’s mediation administrators can assist in the selection of a mediator. The parties have full say in and must agree on who is selected as the mediator.

Once the parties agree on a mediator, FINRA sends each party a Mediation Submission Agreement that indicates the terms for the mediation. All parties, their representatives, and the mediator must sign it before the mediation can take place. The agreement is designed to protect the parties involved and prevent any misunderstanding about the process.

Our Commitment To You

We Treat You Like A Valued Partner

At our firm you don’t deal with legal secretaries or paralegals, you deal only with securities lawyers who will keep you informed and provide reasoned guidance during every step of this process. Soreide Law Group has a customer first philosophy and consistently receives rave reviews for superior customer service. One of the most important decisions that an investor can make in the securities arbitration process is the selection of a securities lawyer. Securities arbitration is a unique and complex process that requires highly specialized knowledge to obtain a successful outcome.

Soreide Law Group Institutional Image

We risk our own money fighting for you because we believe in your case.  We advance all legal costs for our clients.  We have an over 90% success rate in recovering money for our clients.  Soreide Law Group has handled hundreds of FINRA claims nationwide.

Serving Clients Across the Nation in All 50 States

Securities arbitrations are trials conducted in a hearing conference room, with typically three arbitrators instead of a judge and jury. Why the selection of an experienced securities lawyer is so important in these cases is because FINRA is an equitable forum, where arbitrators can hear legal causes of action stemming from state statutes, federal securities acts, federal statutes, the common law and FINRA’S own rules.

Banks, insurance companies and brokerage firms know the importance of using experienced securities lawyers. Beware of arbitration consultants, who are not lawyers, that simply do not have the training or legal experience that an attorney has to be able to handle the complex litigation you are facing. Many of the arbitration consultants are violating state laws by practicing law without a license. Securities Attorney Lars Soreide has worked at FINRA and understands how to navigate the complex FINRA forum and apply the applicable securities laws to your specific case. Contact us today to speak with a securities lawyer that can help guide you through the challenging process of recovering your investment losses.

“5.0 Out of 5.0 Overall Rating”
Lawyers.com
Ok i found this guy on the internet by googling stock market fraud and this guys site pops up. I immediately filled out the form and got a call within 10 minutes. Talk about service with a smile. This guy was really fast. He asked me to send him via fax or email all the documents i had. In about 2 days time he educated me on how we would go about collecting the debt i had lost. In total i lost about 350,000 from my broker making handfuls in commission. It took a year and the loss of my life savings. He was able to settle within 2 months and i got about 170,000 back. He really saved me and helped me do this firm some justice.
Barry Harrington • Client
Our experience with Lars Soreide was very satisfying. He is a very sincere and dedicated lawyer. He did an excellent job in representing us in front of the arbitrator.We recovered 100% of the funds that we invested with the stockbroker We highly recommend him.
Will Gillman • Client
Mr. Soreide represented me and Everything went great. I highly recommend hiring Mr. Soreide. Preparation is key and he was super prepared for the hearing. Thank You.
TODD FREDERICK • CLIENT
We are so happy we chose Lars K. Soreide of Soreide Law Group to handle a claim against our stock broker. Our long trusted broker was actually not to be trusted. We had lost over 6 figures because of illegal activity the FBI charged him with. We were devastated since my husband and I were in retirement. I researched for many hours before deciding on Lars Soreide to handle the case against our broker to try and recover some of our losses. He was professional and did an outstanding job. He knew how to reach a settlement when another legal firm representing a large group could not reach a settlement due to the size of that groups claim. We are so happy we did not go with the large group and chose someone that would concentrate on our loss and our settlement. We are very satisfied with the way he handled and settled our case.
ANN HODY • CLIENT
The Soreide Law Group was of great help to us. They are true professionals in the field of the SEC law and in our case they won a satisfactory settlement.
KRISTINA HALL • CLIENT
Extremely Knowledgeable, professional, and prompt. No communication issues whatsoever and, of course, the desired best possible outcome was achieved.
BRIAN FERY • CLIENT
Soreide Law Group helped my wife and I recover a portion of what we lost with an Atlanta brokerage firm. Soreide stayed in touch every step of the way and concluded our claim in the amount of time they originally stated. Very good experience.
KEN MILLS • CLIENT
Lars Soreide is a fantastic litigator and helped me recover 90% of my losses through my broker. After a sick wife, i took my eyes off my brokerage account – turns out the guy was running trades that were substantially more aggressive than the conservative basis i had established my portfolio under. He helped me arbitrate my case and litigated the matter. What do you know, they wound up firing the broker and paid me almost 100% of my losses. This guy is fantastic and will fight harder than any other lawyer I’m convinced to regain your money. He doesn’t get paid unless you do!!
JEFFREY K • CLIENT
Excellent Attorney, Trustworthy, Knowledgeable and Responsive.
I have many years experience in the legal field and I found Lars to be among the best attorneys that I have had the pleasure of dealing with. I have never had the need to file an action on behalf of myself or my family before. My mother’s life savings was lost to an investment which involved some unscrupulous dealings. I decided that I needed to do something to help my mother recover some of her savings as this investment devastated her financially. After investigating and speaking with several attorneys I was most impressed with Lars. I have dealt with many attorneys over the years due to my work and I found Lars to be extremely intelligent, compassionate and very knowledgeable in this field of litigation. Lars was on top of every detail of the process. Due to his prowess my mother was able to recover a good portion of her lost investment. I cannot say enough about his straight forward dealings with us as well as his compassion towards my mother and her situation. He truly believed in what he was doing for us and he brought this attitude in to the case. If I ever had to file suit again I would not hesitate to contact Lars again in a second. I cannot recommend him enough. He does not relegate you to his staff but he speaks with you directly every time. I was most impressed with his attitude, responsiveness, knowledge and compassion. I cannot thank him enough for helping our family in our time of need.
JOHN C • CLIENT
Thank God for this Guy! Lars Soreide is amazing. He recovered over a half a million dollars of my funds from my churn and burn broker who actually counter sued me after filing the lawsuit. I didn’t even know it was possible to bring this type of lawsuit through FINRA to recover. Glad I went through with it. Would recommend Lars to anyone.
Michael M • CLIENT
Mr. Soreide is very honest, he never promised an outcome but took the case when everyone said there was no case. I was very pleased with the outcome and how we recovered our losses and he saw it through until the end.
Marissa Nugent • CLIENT
I hired Lars Soreide to represent me against my stock broker who was running a ponzi scheme. Soreide Law sued the firm for not catching the fraud he was running. The case went to a full trial before 3 arbitrators and they awarded us back every dollar I lost in the Ponzi scheme. My wife and I felt this was totally hopeless because the stock broker was in jail and had no money but we collected every penny back from the firm. We owe a huge THANK YOU to Soreide Law Group.
Dominic M. • CLIENT

Recover Your Losses.  No Fee If No Recovery.  We Advance All Costs Because We Believe In Your Case.

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