What are Unauthorized Transactions?

Unauthorized transactions are made when a broker performs a trade in your portfolio without your consent. When you use a brokerage firm or financial institution to manage your portfolio, securities law requires them to obtain prior authorization either at the outset of your advisory agreement or before making certain trades in your account. Typically these authorizations are required in writing.

If your broker or financial institution made trades on your behalf without your permission or without notice, you may be a victim of unauthorized transactions— which may mean you are entitled to financial compensation.

Do you think your broker made an unauthorized transaction?

Speak privately with a securities arbitration lawyer about how to recover your money. All consultations are free and confidential.

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Are There Exceptions to the Rule?

There are a few exceptions to the rule. For example, when you have a margin account, a certain line is set and if the value of your investment falls below it, the broker may trade without notifying you. However, an agreement is requied beforehand, making you aware that you were granting this decision-making power to your broker. Understanding all the exceptions can be tricky, so if you are concerned, it is best to discuss your individual situation with a securities lawyer.

Did Your Broker Make Unauthorized Transactions?

If you believe your broker traded without your knowledge or made unauthorized transactions without notice, contact us for a free and confidential consultation.

Our Reputation for Excellence

Girard Gibbs’ financial fraud and securities lawyers have more than two decades of experience prosecuting fraud. Our attorneys have successfully litigated against some of the largest companies in the United States, and we have recovered more than a billion dollars on our clients’ behalf.

We have fought some of the most complex cases brought under federal and state laws nationwide, and our attorneys have been recognized with numerous awards and honors for their accomplishments, including Top 100 Super Lawyers in Northern CaliforniaTop Plaintiff Lawyers in CaliforniaThe Best Lawyers in America, and rated AV Preeminent (among the highest class of attorneys for professional ethics and legal skills).

Our Securities Arbitration Team

Eric Gibbs

Eric has served in leadership positions in a number of high profile, complex financial lawsuits. He has been recognized as a Daily Journal, among the Top 100 Super Lawyers in Northern California, and a Law360 MVP for Consumer Protection.

David Stein

David’s advocacy has generated major recoveries for consumers impacted by financial fraud. He was named to the Top 40 Under 40 by Daily Journal and a “Rising Star in Class Actions” by Law360.

Michael Schrag

Michael has over 20 years of experience representing individuals in complex cases involving banking credit card and other financial frauds.

Amanda Karl

Amanda represents employees, consumers and investors in complex class action lawsuits throughout the country. She previously served as a law clerk to the Honorable Richard A. Paez, United States Court of Appeals for the Ninth Circuit, and to the Honorable Claudia Wilken, Northern District of California.

Noteworthy Financial Fraud Cases

American Express Financial Advisors Securities Litigation $100 million cash settlement for clients alleging American Express steered them into under-performing “shelf space funds” to reap kickbacks
Chase Bank “Check Loan” Litigation $100 million settlement for consumers alleging Chase offered long-term fixed-rate loans, only to later more-than-double required payments
Peregrine Financial Group Customer Litigation Settlements worth $75 million for futures and commodities investors who lost millions in the collapse of Peregrine Financial Group, Inc.
NantHealth Court-appointed Co-Lead Counsel in a securities class action alleging the company’s founder violated federal securities law and artificially inflated stock prices