I traded precious metals ETF's, Stocks, and Options from 2008 and 2014 and lost over $364,000 because JP Morgan, Deutsche Bank, Merrill Lynch, Bank of America and other banks employed corrupt traders that spoofed the precious metals market and were all found guilty of fraud by the DOJ.
Unless this revelation was within the past few years, you would have a statute of limitations problem for acts and omissions that happened 6-12 years ago.
But a criminal verdict would markedly aid a civil suit. Do an internet search to see if there are any class actions suits arising from this, and if not, identify and approach plaintiff securities litigators with a summary of your potential claim.
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Your matter would require arbitration through FINRA, not litigation. When you opened accounts with these broker-dealers you would have agreed to such arbitration. This is might actually benefit you. In most states, the statute of limitations only applies to civil matters, which arbitration is not. FINRA has an eligibility requirement (which is like a statute of limitations) of six years, but there is a strong argument that only the last offending action in a series of offending actions need to occur in the last six years. So it is possible that the entire matter could be timely, depending on the last offending act.
You should speak to an attorney that specializes in FINRA arbitration.
Please keep in mind that we do not represent you and that more information would be needed to fully and accurately evaluate your case. Further, you should seek representation because your matter is governed by strict time limits.
This is a claim probably under the Commodities Futures Trading act.
It is true that the statute of limitations is short and your investments in the market before 2014 have expired almost certainly.....but place the emphasis on "almost"....there could be facts here that would bring those claims into life.
There have been law suits on spoofing that have been brought in the securities markets, of which I am aware.
There are some excellent lawyers in this part of the country that do commodities work. Call one.
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