Herskovits PLLC is a boutique firm in New York City that provides legal assistance to individuals in the financial services industry. Our attorneys have experience representing clients in a wide range of securities matters, both in state and federal court and in a variety of arbitration and mediation settings. We are a small firm, but our size is one of our best assets, and it enables us to provide exceptional client service at reasonable and predictable rates. Our office is located in New York City, but we can at times provide legal counsel to individuals in Las Vegas, Henderson, Reno, Paradise, Sparks, and other areas in Nevada, 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.Nevada "Blue Sky" Laws
The United States Securities and Exchange Commission (SEC) regulates the securities industry at the federal level. The SEC oversees the key participants in the securities industry to protect against fraud, ensure fair dealing, encourage capital formation, and maintain confidence in the securities market. It also investigates alleged violations of the securities laws and has the ability to bring administrative and civil actions against violators.
At the local level, each state has its own securities laws, and these laws are known as "Blue Sky" laws. In Nevada, the law is called the Nevada Uniform Securities Act, and the Secretary of State's Securities Division (the "Division") oversees the securities industry. The Division reviews prospective offerings to ensure that full and accurate disclosure has been made to investors; it also ensures that securities offerings are not fraudulent. Moreover, the Division seeks to keep investors informed on investment risks and provides educational materials to interested individuals.
Because of the complexity of the securities laws and the large damages that can be awarded for violations of the securities laws, it is advisable to seek the representation of an experienced securities lawyer to handle these matters. For example, a Financial Industry Regulatory Authority (FINRA) arbitration panel in Las Vegas recently awarded Claimant $330,000 in compensatory damages, interest, $115,500 in attorneys' fees, and $300 for the initial filing fee. [In the Matter of the FINRA Arbitration Between Brenda Y. Ward Living Trust dtd 2/3/04, Claimant, v. CM Securities, LLC f/k/a CMC Financial Services, Inc. and James L. York, Jr., Respondents (FINRA Arbitration 11-03801, December 27, 2012)].
In this matter, Claimant requested damages based on negligence, breach of contract, and failure to supervise. These actions related to Claimant's investment in a real estate investment trust called Desert Capital. Although Claimant requested $500,000 in compensatory damages, attorneys' fees, and other damages, the arbitration panel decided a lesser award was warranted.Herskovits PLLC can Help You Navigate Federal and State Securities Laws
If you are an investment advisor, broker-dealer, or another industry participant and you are involved in a securities dispute, you should seek the assistance of an accomplished securities attorney. At Herskovits PLLC, our attorneys have decades of collective experience, and our managing partner has participated in over 200 arbitration proceedings with an impressive record of success. We are a small firm, but our size allows us to avoid the conflicts of interest faced by large firms and represent clients with substantial claims.
If you would like to discuss a securities matter or find out more about our firm, please contact us by calling (212) 897-5410 or by utilizing our contact form. We are more than happy to assist you whether you are located in New York or another state across the country.