Broker Arbitration

Hulett Harper Stewart LLP represents select individuals who have been victimized by careless, reckless or even criminal stock brokers. Virtually all persons who buy and sell stocks or mutual funds and who have lost money due to stock broker error, neglect or fraud, are required to file an arbitration claim instead of filing a lawsuit. This is so because most brokers refuse to handle an account unless one first agrees to resolve all conflicts which may arise with a broker in this less formal, but equally binding forum.

Instead of a jury of your peers deciding your case, you will have a panel of up to three experts, some of whom are industry specialists. The type of claims most typically brought against brokers are:

  • Failure to act according to the client’s needs or requests;
  • Directing clients into “unsuitable” investments; and
  • The over-trading or “churning” of an account in order to generate excessive fees for the broker.

Hulett Harper Stewart has successfully represented victims of alleged broker abuses, including recently representing a victim of one of Wall Street’s largest broker fraud cases in U.S. history. In that case, the broker misappropriated from his clients over $300 million in stocks and bonds. Hulett Harper Stewart was successful in achieving a very sizeable recovery for an individual victim of the fraud.