Reasonable-Basis Suitability

New York Attorney Skilled in Pursuing Securities Litigation Nationwide

While all investments carry some degree of risk, investors should be able to rely on a broker’s or financial advisor’s advice when weighing whether to buy or sell securities. When a broker or financial advisor provides an investor with false or incomplete information regarding an investment, it may constitute fraud or misrepresentation. Securities fraud and misrepresentation can result in significant financial losses. If you were financially harmed because of an investment professional’s misrepresentation or fraud, New York securities fraud lawyer Irwin Weltz can assess your case to determine whether you may be able to pursue damages from the party that caused your harm. He regularly represents parties in arbitration and will work aggressively to help you pursue compensation for your financial losses.

Proving Fraud by an Investment Professional

Brokers and financial advisors must act in the best interests of their clients. One of the essential elements of this duty is the obligation to provide investors with thorough and accurate information regarding investments. Furthermore, a broker or financial advisor should complete a securities transaction only if the transaction comports with the client’s financial goals and resources. When brokers and investment advisors breach the duties owed to their clients by engaging in deceptive practices, they may be committing fraud. Examples of actions that may constitute fraud include providing inaccurate information to a client regarding an investment, engaging in overtrading, running a Ponzi scheme, and embezzlement. A securities fraud attorney in New York or elsewhere can help determine whether a certain action constituted fraud.

Rule 10b-5 of the Securities Exchange Act specifically prohibits brokers and financial advisors from engaging in fraudulent practices or making untrue statements, and courts have held that Rule 10b-5 grants individuals a private right to sue for fraud or misrepresentation. An investor seeking to hold an investment professional liable for fraud must first prove that the investment professional knowingly made a false representation of a material fact. A material fact is any information that is essential for weighing the appropriateness of an investment. The investor must then show that the investment professional made the misrepresentation with the intent of committing fraud or misleading the investor. Lastly, the investor must show that they relied on the false information in making an investment decision and that they suffered financial harm as a result of the reliance.

Proving that an investment professional intentionally defrauded an investor can be challenging. If you were harmed by securities fraud, you should consult a New York securities fraud attorney to analyze whether you may be able to pursue a claim against the investment professional who misled you.

Proving Harm Caused by Misrepresentation

Even if the evidence is insufficient to prove that a broker or financial advisor meant to defraud an investor, an investor who was provided with incomplete or inaccurate information from a broker or financial advisor may be able to pursue a misrepresentation claim. The elements of a misrepresentation claim are the same as a fraud claim, except that an investor alleging misrepresentation does not need to prove that the broker or financial advisor acted with the intent to defraud or mislead the investor. A securities attorney can analyze your accounts and documents regarding your transactional history to determine your best option for seeking damages.

Suitability Supervision?

Explore Your Options with a Skilled Attorney

Proving that an investment professional should be held liable for harm caused by fraud or misrepresentation is complicated and requires a thorough analysis of the relevant facts and law. Attorney Irwin Weltz has more than 25 years of experience representing parties in FINRA arbitration proceedings and securities litigation. Attorney Weltz is mindful of the dramatic impact that financial losses can have on a person’s life and will work tirelessly to help you recover any compensation that you may be owed for your losses. Weltz Law can be contacted at 877-935-8952 or through the online form to schedule a meeting with a securities fraud lawyer in New York and discuss your options for seeking recourse.

Client Reviews

I was introduced to Irwin when facing a regulatory issue which, at the time, felt overwhelming. From my first meeting with him, Irwin gained my trust and explained all options and potential outcomes in a way I could comprehend. He was there to talk me through any questions and concerns I had until we decided on the best option for me. On top of that, he is a genuinely caring person and has remained someone I go to for guidance throughout the years. I could not recommend him highly enough!

- Securities Industry

I found Irwin to be my advocate, in the best sense of the word. He truly cares about his clients, and because of his work ethic and perceptiveness, was an exceptional litigator in my lengthy and complicated case.

- Business Owner

I was referred to Irwin by a colleague who is in the securities business. I cannot thank him enough!. Irwin has been amazing…my case was complicated but Irwin has a way of looking at situations through different lenses and gets results. I can’t say enough about his “bedside manor”. As good as he is as an attorney, he’s an equally good person. He actually cares.

- Securities Industry

Irwin is a rare breed of lawyer, he’s honest, straightforward, smart and doesn’t over bill


Irwin has been my go-to lawyer for arbitration and regulatory matters for years. He’s smart, cost-efficient and gets results. I highly recommend him.

- B.D.