A Miami securities litigation lawyer reads the offering documents, the subscription papers and the account statements to decide whether an investor can undo the purchase or recover damages, and whether the dispute belongs in court or in arbitration. Law Offices of Aaron Resnick represents investors and the companies and officers they sue. Attorney Aaron Resnick has handled business disputes in Miami since 1998 and works hands-on on every case.
Aaron knows the law. He knows both sides. And he knows Miami. That is why Miami business owners know Aaron.
Call 305-672-7495 Speak to Aaron
Can an Investor Undo a Securities Sale That Broke Florida Law?
Chapter 517, Florida Statutes, allows an investor to seek rescission for specified unlawful securities sales, or damages after selling the security. The remedy covers the registration violations listed in the statute, not every administrative defect. Review the security, registration status, exemptions and each participant's role before deciding whom to sue.
A seller and a director, officer, partner or agent who personally participated or aided in the sale can be jointly and severally liable. Certain branch office renewal and address amendment violations are excluded from this registration remedy.
A compliant written offer can cut off this registration remedy if the purchaser does not accept within 30 days after receiving it. If the purchaser still owns the security, the offer takes it back and refunds the purchase amount. If it was sold, the offer pays the difference between purchase and sale amounts.
In either case, the offer must also apply the statutory interest and investment income adjustments. Review the offer immediately; the 30 day rule concerns this registration remedy, not every possible fraud or federal claim.
Aaron Resnick reviews the offering documents, any registration filing for the security and the date any written offer was received.
What Counts as Securities Fraud Under Florida Law?
Chapter 517, Florida Statutes, prohibits fraud in investment advice and securities transactions, including schemes to defraud, material misstatements and material omissions that make statements misleading. An investor's documents, communications and transaction history help show what was represented, what was withheld and how the alleged conduct affected the investment.
The private remedy provisions can allow rescission or damages for a qualifying unlawful purchase or sale. The transaction, parties and statutory requirements must fit; an allegation of poor investment advice does not automatically entitle every claimant to a refund.
Depending on the transaction and the facts, federal securities claims under section 10(b) of the Securities Exchange Act and SEC Rule 10b-5 may also apply, with their own elements and deadlines.
Aaron Resnick reads the offering documents, the communications and the transaction history together.
How Long Does an Investor Have to Sue Under Florida's Securities Law?
Chapter 95, Florida Statutes, generally requires a chapter 517 claim within two years after the relevant facts were discovered or should have been discovered through due diligence, and no more than five years after the violation. Identify each transaction and potential claim promptly; other claims and arbitration rules can have different clocks.
Aaron Resnick reviews the date of each transaction and the date the facts were discovered.
My Broker Lost My Money. Do I Go to Court or to Arbitration?
Often arbitration. A brokerage customer agreement is likely to include an arbitration clause. For disputes covered by FINRA Rule 12200, arbitration is also required when the customer requests it. FINRA generally applies a six year eligibility period measured from the occurrence or event giving rise to the claim.
That rule does not extend applicable statutes of limitations. Review the arbitration agreement, state and federal claims, eligibility rule and any tolling provisions separately rather than treating the six years as a universal filing deadline.
Aaron Resnick reads the customer agreement, its arbitration clause and the date of each transaction.
What Should I Send Before a First Meeting About an Investment Loss?
The offering memorandum or prospectus, the subscription agreement and any side letters, account statements and trade confirmations, every email and text in which someone described the investment, and any rescission offer or demand received. A short timeline of who said what, and when, helps identify the disputed point and the next deadline.
Aaron Resnick reviews those documents first.
Other Securities Disputes
The firm also handles shareholder class and derivative claims, disputes among the owners of closely held companies over how an investment was raised or used, and the civil side of matters that begin with a securities regulator. See business disputes, partnership and shareholder disputes and breach of fiduciary duty.
Send the parties, the problem and the next date; the firm reviews every inquiry and tells you whether it can help.
We Don't Make Promises. We Have Results to Prove It.
Aaron Resnick has handled business disputes in Miami since 1998 and is a fourth generation Miami attorney. He works hands-on on every case; the client gets Aaron on every major litigation issue, not a junior partner. The Law Offices of Aaron Resnick represents investors, companies and their officers in Miami Dade, Broward and Palm Beach counties in securities and investment disputes. Call 305-672-7495 or request a consultation.
This page provides general information and is not legal advice. Prior results do not guarantee or predict a similar outcome.
