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.
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.
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.
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 California, Top Plaintiff Lawyers in California, The Best Lawyers in America, and rated AV Preeminent (among the highest class of attorneys for professional ethics and legal skills).
Our Securities Arbitration Team
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 has over 20 years of experience representing individuals in complex cases involving banking credit card and other financial frauds.
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|
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