Robert C. Port’s Answers

Robert C. Port

Atlanta Securities / Investment Fraud Attorney.

Contributor Level 6
  1. I put $100k into an investment - after 9 months he admitted he lost the money. Is a demand letter necessary b/f filing fraud?

    Answered about 1 month ago.

    1. David P Neuman
    2. Robert C. Port
    3. Nicholas M. Alcock
    4. Richard A Stephens
    5. Denise P. Erlich
    6. ···
    12 lawyer answers

    Generally, you do not have to write a demand letter before pursuing civil or criminal charges. In fact, given that this has been going on for 2 years, I'd be a little concerned that you might be bumping up against a statute of limitations problem. Each state has its own statutes of limitations for various civil and criminal claims (and federal law, if applicable, also has its own statutes of limitation), so you need to consult with an attorney or the DA as soon as possible to evaluate your...

    4 lawyers agreed with this answer

  2. As a matter of law, can an arbitrator confirm, modify and/or vacate the Award of another arbitrator under the FAA?

    Answered about 2 months ago.

    1. Robert C. Port
    2. Kris K. Skaar
    3. Brett A. Borah
    4. Richard A Stephens
    4 lawyer answers

    In general, unless the parties agree to another arbitration in which the new arbitrator is specifically empowered to confirm, modify and/or amend a prior arbitration award, I do not believe that another arbitrator can do so. Once an arbitration award is issued, the power to confirm, modify and/or amend usually rests with a court before whom the issue is subsequently brought. Keep in mind that any answer to a legal question depends on the specific facts and circumstances of the case, as well...

    2 lawyers agreed with this answer

  3. Can I sue my broker for selling me risky stocks?

    Answered about 1 month ago.

    1. Robert V Cornish Jr.
    2. Debra Lynn Fein
    3. Robert S. Banks
    4. David Michael Kasell
    5. Jeremy Scott Hyndman
    6. ···
    10 lawyer answers

    Whether you have a claim depends on an evaluation of your needs, risk profile, investment experience, net worth, and other personal and financial circumstances that the broker knew or should have known. The fact that one or more investments in a portfolio lost money does not, standing alone, give you a claim. All investments recommended by the broker need to have been "suitable" at the time recommended (in light of the types of facts and circumstances just mentioned), and I would further...

    1 lawyer agreed with this answer

  4. Can a custodial firm be held liable for losses by an investment firm?

    Answered 1 day ago.

    1. Matthew James Casebolt
    2. Jeffrey Pederson
    3. Peter Mathis Spett
    4. Howard Robert Roitman
    5. Robert V Cornish Jr.
    6. ···
    6 lawyer answers

    There are lots of issues your question raises, including whether any claims you might have might be barred by applicable Statutes of Limitations. I am presuming this happened a number of years ago, because a prosecution leading to jail sentences, and whatever actions were taken to secure the 1/3 recovery, often take some time. In addition, to more fully and properly answer your question, it is necessary to know what duties the custodian was performing. I suspect it unlikely that they had...

  5. This has to do with professional negligence.

    Answered about 1 month ago.

    1. Douglass C. Lawrence
    2. Jeremy Scott Hyndman
    3. Jonathan Alexander Karon
    4. Robert V Cornish Jr.
    5. Lee McHarg Holland
    6. ···
    8 lawyer answers

    If in fact your advisor failed to follow your explicit directions to execute a trade, he/she may be liable for the damages caused. My first question to you would be whether your instructions were clear and had no ambiguity. Additionally, unless there is some contemporaneous record of your instructions (such as a recording, a fax or other written document), this may become what lawyers call a "swearing contest": you will swear you told the advisor to sell by a certain date, and he/she will...

  6. My broker lost money on unauthorized trades

    Answered about 2 months ago.

    1. Jeffrey Steven Feinberg
    2. John Sheridan Burke
    3. Jeremy Scott Hyndman
    4. Debra Lynn Fein
    5. David P Neuman
    6. ···
    13 lawyer answers

    Whether you have recourse will depend on a number of factors, including your age, your investment objectives, your risk tolerance, your other financial assets, and other factors that where known or should have been known by the RIA. The fact that you have lost money is not, by itself, and indication that you have a legal claim. Generally, the question of whether you have sustained damages and have a legal claim is assessed by comparing how a properly managed portfolio for someone in your...