Banks, brokers, and other institutions in the financial services industry are experiencing an unprecedented level of scrutiny. Whether trying to comply with increasingly onerous regulations or seeking to successfully navigate government investigation, simply doing business is a minefield. Investors faced with complex investment options often have little choice but to rely on the recommendations and planning provided by investment professionals—reliance that is occasionally misplaced or induced by fraud. Preti Flaherty’s Financial Industry Litigation & Arbitration practice group offers vital representation in financial services disputes, securities litigation, and arbitration. Our trial lawyers represent investors, financial advisors, broker-dealers, registered investment advisors, banks, and other financial institutions on regulatory matters, litigation, arbitration, and compliance counseling.

Capitalizing on Experience

Our experience includes the full gamut of claims and a broad range of investments. We have handled claims of unsuitable investment recommendations, breach of fiduciary duty, churning, unauthorized trading, failure to supervise, elder abuse, negligence, and securities fraud.

Our track record in securities disputes speaks for itself:

  • Jury award of $7.5 million against national bank for failure to provide financial and investment advice to client, Fleet National Bank v. Mayeux, Docket No. CV-03-247
  • Settlement involving financial advisor’s abuse of power of attorney from a cognitively impaired senior investor
  • Award at arbitration for financial advisor’s unsuitable recommendation to mortgage the investor’s home to buy speculative stocks, Gregoire v. Morgan Stanley DW, Inc., NASD-DR No. 04-06425
  • Restitution from an insurance company for unsuitable sale of deferred equity indexed annuity to an elderly widow with few assets
  • Award at arbitration for unauthorized trading and weak data security procedures when investor’s family member gained online access to investor’s retirement account, Landry vs. Fidelity Brokerage Services LLC Co., FINRA Case ID 13-00523
  • Settlement involving insurance agent having induced an senior investor with dementia, to surrender high yield annuities to buy whole life insurance causing capital gains tax liability and income loss
  • Settlement involving brokerage firm responsible for recommending penny stocks and other speculative investments to senior investor
  • Award at arbitration in eight figure securities fraud claim against seller of substantial manufacturing company, Kingspan Holdings US, Inc. v. Daniel R. Baker et al., American Arbitration Association, Case No. 50 T 168 00487 1

Comprehensive Advocacy

We provide sophisticated counsel on a broad array of investment scenarios, including stocks, options, mutual funds, bonds, complex structured products, annuities, life insurance, REITs, private placements, variable life insurance, and variable annuities. We  also assist financial institutions with regulatory investigations and enforcement actions involving state regulators in Maine and New Hampshire.

Any highly regulated industry face challenges. But challenges should not be obstacles to success. They should be opportunities for creative strategy and action that results in long-term returns. Our attorneys know how to turn adversity into advantage. With a mix of diverse experience and innovative tactics, we have built our reputation on delivering for our clients, helping them to leverage every challenge into a chance to prosper.

Firm Highlights

Event

When to Say Goodbye: Navigating Leave and Terminations

As an HR professional, hiring the right talent, addressing employee needs, and managing terminations are just a few of the most challenging problems that arise. During this year's three-part Employment Breakfast Webinar Series, we'll...

Publication

Failure to Follow Your Contract's Notice Requirements Can be Costly

In Kinetic Systems, Inc. v. IPS-Integrated Projects Services, LLC et. al., No.: 20-cv-1125 (D.N.H. February 6, 2024), the U.S. District Court for the District of New Hampshire granted summary judgment for a general contractor...

News

Preti Attorneys File Suit Against Al-Generated Robocalls in the 2024 NH Presidential Primary

Representing the League of Women Voters of New Hampshire, the League of Women Voters of the United States, and individual voters, Preti Flaherty, with co-counsel, filed a federal lawsuit against Steve Kramer, Lingo Telecom...

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Helping Employers Navigate the New Independent Contractor Rule and Compliance Challenges

On March 11 th , the United States Department of Labor’s (DOL) new Independent Contractor Rule goes into effect.  As your organization readies itself for compliance, it’s imperative to scrutinize your independent contractor classifications...

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Important Updates to American Arbitration Association Construction Industry Rules and Mediation Procedures

The American Arbitration Association (AAA) updated its Construction Industry Rules and Mediation procedures (AAA Rules), effective March 1, 2024, marking the first update since 2015. The updates are important because the AAA Rules are...

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Building a Strong Discipline and Performance Management Framework

As an HR professional, hiring the right talent, addressing employee needs, and managing terminations are just a few of the most challenging problems that arise. During this year's three-part Employment Breakfast Webinar Series, we'll...

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Good Energy: Jazz, Cocktails, and Camaraderie

Preti Flaherty and Phelps Dunbar will be hosting an afterhours event: ‘Good Energy: Jazz, Cocktails, and Camaraderie’ at The Oceantic Network’s annual IPF Offshore Wind Conference. The event will be held on April 23...

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Attorney Jeffrey Thaler Named to 2024 Lawdragon Green 500: Leaders in Energy Law

Preti Flaherty’s attorney Jeffrey Thaler has been recognized by  Lawdragon  as one of the top 500 Leaders in Energy Law. This is Jeff’s third time named to this prestigious list since the first publication...

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Benchmark Litigation Names Preti Flaherty 2024 “Maine Firm of the Year"

Benchmark Litigation  has named Preti Flaherty as 2024 Litigation Firm of the Year in the State of Maine. Through extensive peer- and- client reviewed research, as well as analysis of casework; the Benchmark Awards...

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USCIS Announces H-1B Registration Period for FY2025: New “Beneficiary Centric” Registration Process and Increased Fees

USCIS has recently announced a series of changes that will impact the FY2025 H-1B registration system and cap filing season. H-1B Registration Period and Organizational Accounts As in prior years, under this process, prospective petitioners...