Herskovits PLLC is a small firm located in New York City. Our practice areas include securities litigation and arbitration, broker-dealer advisory services, securities industry regulatory defense, securities industry employment litigation, and commercial litigation. Because our attorneys have decades of collective experience in the financial services sector, we have handled a wide range of securities matters. Our office is located in New York City, but we can at times provide legal counsel to individuals in Jackson, Gulfport, Southaven, Hattiesburg, Biloxi, and other locations in Mississippi, 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.
Mississippi "Blue Sky" Laws
At the federal level, the United States Securities and Exchange Commission (SEC) administers and enforces the securities laws. The SEC seeks to encourage capital formation while protecting investors from fraudulent activity. To accomplish these objectives, the SEC requires public companies to disclose particular investment information to the public. Moreover, it oversees the key participants in the financial services industry and can bring civil enforcement actions for violations of the securities laws.
At the local level, each state has its own securities laws, known as "Blue Sky" laws. In Mississippi, the law is called the Mississippi Securities Act, and it is based off the Uniform Securities Act. The Mississippi Securities Act is administered and enforced by the Securities and Charities Division (the "Division") of the Office of the Secretary of State. The Division regulates the sale of securities, as well as the entities that sell them, and it also investigates alleged violations of the securities laws.
A recent Financial Industry Regulatory Authority (FINRA) arbitration proceeding demonstrates the enormous awards possible in securities matters, and thus, it is prudent to obtain the assistance of an experienced securities attorney to handle these matters. In August 2012, an arbitration panel in Jackson awarded Claimant over $265,000 in compensatory damages, interest, $35,000 for attorneys' fees, and $10,000 in costs. [In the Matter of the FINRA Arbitration Between Wells Fargo Advisors, LLC, f/k/a Wachovia Securities, LLC, Claimant, v. William H. Cross, Respondent (FINRA Arbitration 11-00906, August 27, 2012)].
In the above case, Claimant requested damages based off numerous claims, including breach of contract, unjust enrichment, and conversion. Claimant alleged that Respondent, a prior employee, failed to repay a retention bonus loan in violation of the terms of the promissory note. Payment was allegedly due upon Respondent's employment termination.
Herskovits PLLC Can Help You Navigate Federal and State Securities Laws
If you are a broker-dealer, an investment advisor, or another participant in the financial services industry and you are involved in a state or federal securities dispute, you should seek the assistance of an experienced securities lawyer. Herskovits PLLC has the knowledge and experience to resolve your case, and we have successfully handled a wide range of securities matters. Although we are a small firm, our size allows us to provide the highest degree of client service at affordable and predictable rates.
We are located in New York, but we can represent clients from cities throughout the United States. If you would like to find out more about our firm or our practice areas, please contact us by calling 212.897.5410 or by utilizing our contact form.