Herskovits PLLC is a small firm that focuses exclusively on matters pertaining to the securities industry. Because of our dedicated focus, we have experience in a wide range of securities matters, and our managing partner has handled over 200 FINRA arbitrations with an impressive record of success in the cases that have been tried to verdict. Our office is located in New York City, but we can at times provide legal counsel to individuals in Little Rock, Fort Smith, Fayetteville, Springdale, Jonesboro, and numerous other locations in Arkansas, subject to admission pro hac vice. We are licensed to practice law in New York only and this webpage is for general informational purposes only.
Arkansas "Blue Sky" Laws
The United States Securities and Exchange Commission (SEC) enforces the Securities Exchange Act of 1934, the Securities Act of 1933, and numerous other federal securities laws. It seeks to protect investors from fraudulent activities, and to accomplish this objective, it oversees the key participants in the financial services industry and requires public companies to disclose particular investment information to the public.
At the local level, each state has its own securities laws, known as "Blue Sky" laws. In Arkansas, the securities law is called the Arkansas Securities Act, and the Arkansas Securities Department (the "Department") regulates the securities industry in the state. The Department ensures that the securities bought and sold in Alabama are registered and that industry participants are registered to conduct business in Arkansas. It can also bring enforcement actions against those who violate the securities laws and has the authority to refer cases for criminal prosecution.
Because securities disputes often involve large sums of money, damages in these cases can be substantial. Consequently, you should obtain the assistance of an experienced securities attorney if you are involved in a state or federal securities matter. For example, in October 2012, an arbitration panel in Little Rock awarded Claimant over $286,000 in compensatory damages and approximately $30,000 in attorneys' fees. [In the Matter of the FINRA Arbitration Between BOSC, Inc., Claimant, v. Barry Kellerman, Respondent (FINRA Arbitration 09-02092, October 19, 2012)].
Here, Claimant alleged that Respondent breached a contract and violated internal policies and procedures. Specifically, Claimant asserted that Respondent made an unauthorized capital commitment on its behalf–a commitment to fund Ford Motor Company Series 2008C via a Purchase and Assignment Agreement. Moreover, Claimant alleged that Respondent failed to pay money owed under a promissory note that was due upon his employment termination.
Herskovits PLLC Can Help You Navigate Federal and State Securities Laws
If you need assistance with a state or federal securities dispute, you should contact an experienced securities lawyer. At Herskovits PLLC, we have the knowledge and skill to handle your matter, and we have experience before state and federal courts and in a variety of arbitration and mediation settings. Furthermore, our small size is one of our best assets, and it enables us to provide a degree of client service that can be matched by few firms of our size.
We are located in New York, but we can represent clients from all parts of the country. If you would like to find out more about our services, please contact us at 212.897.5410. You may also fill out a contact form, and one of our attorneys will promptly respond to your inquiry.