Herskovits PLLC is a small firm with a dedicated focus on the financial services arena. Our practice areas include securities litigation and arbitration, securities industry regulatory defense, broker-dealer advisory services, commercial litigation, and securities industry employment litigation. Because our attorneys have decades of collective experience, we are knowledgeable in a wide range of securities matters and are equipped to handle any state or federal securities dispute. Our office is located in New York City, but we can at times provide legal counsel to individuals in Manchester, Nashua, Concord, Dover, Rochester, and other locations across New Hampshire, 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.
New Hampshire "Blue Sky" Laws
The United States Securities and Exchange Commission (SEC) was created in 1934 after Congress passed the Securities Exchange Act of 1934. This law, as well as the Securities Act of 1933, was passed during the peak of the Great Depression to help restore public confidence in the markets. Thus, one of the SEC's principal goals is to protect investors from investment fraud and unfair dealing. To accomplish this objective, the SEC requires public companies to disclose particular information to the public. It also provides investors with educational materials and has a database, Edgar, where individuals can access the documents that public companies are required to file with the SEC.
At the local level, each state has its own securities laws, known as "Blue Sky" laws. New Hampshire's law is called the New Hampshire Securities Act, and the Bureau of Securities Regulation (the "Bureau") is the state equivalent of the SEC. The Bureau seeks to protect investors while encouraging capital formation, and it registers securities and approves registration exemptions, investigates alleged violations of the securities laws, and has the ability to take administrative action against those who violate the securities laws.
Because of the complexity of the securities laws and the ability of arbitration panels to issue large awards in securities disputes, it is prudent to obtain the representation of an accomplished securities attorney to handle these matters. For example, in a recent proceeding, a Financial Industry Regulatory Authority (FINRA) arbitration panel in Manchester awarded Claimants approximately $2,000,000 in damages. [In the Matter of the FINRA Arbitration Between Frances G. Straccia et al., Claimants, v. Focus Capital, Inc. et al., Respondents (FINRA Arbitration 11-02737, November 27, 2012)].
In this matter, Claimants requested a total of $27,000,000 in damages based off numerous causes of action, some of which include: breach of contract; breach of the covenant of good faith and fair dealing; violation of the securities laws; fraud; and negligence. Although the award does not include much information on the events leading up to the proceeding, the causes of action relate to various trading strategies.
Herskovits PLLC Can Help You Navigate Federal and State Securities Laws
If you are a participant in the financial services industry and you need assistance with a state or federal securities matter, you should contact a firm with the experience and skill to handle your case. At Herskovits PLLC, our attorneys have decades of collective experience in a wide range of securities matters, and our managing partner has handled over 200 FINRA arbitrations with an impressive record of success.
Our firm is located in New York, but we can represent clients from states throughout the country. If you would like to speak to us about a securities matter or find out more about our services, please contact us by calling 212.897.5410. You may also utilize our contact form, and we will promptly respond to your inquiry. We look forward to hearing from you.