Unlawful Sales Of Unregistered Securities
—Section 5 of the federal Securities Act of 1933 and Chapter 517 of the Florida Statutes prohibit the sale or resale of unregistered securities unless a specific exemption applies. Otherwise, the sale of unregistered securities is unlawful. This law was enacted in order to protect investors from lack of information, fraud and misrepresentation.
If You Purchased Unregistered Securities, We Can Help
A key component of these statutes is that investors who discover they have purchased unregistered securities are eligible to file either individual or class action lawsuits in order to demand the return of their investments plus damages that could include attorneys’ fees.
If you may have purchased unregistered stock, bonds, futures, options, debt, investment contracts, CDs or other securities, it is important to act quickly. The attorneys of Warren Gammill & Associates, P.L. are knowledgeable about securities law and may be able to help you recover your investment.
If you purchased unregistered securities or purchased securities through an unregistered dealer, you may be entitled to a refund and money damages, even if there is no evidence of fraud or misrepresentation. Contact us today and let us help you recover your investment.
Knowledgeable and Sophisticated Securities Law Counsel
There are fewer than 20 relatively narrow exemptions to the Florida requirement that securities be registered. Nevertheless, many individuals and organizations acting as dealers fail to register securities before selling them — and may even have failed to register themselves as dealers.
It often occurs when securities are sold in offshore transactions, because sellers do not fully understand the applicability of U.S. law to those transactions.
Often, sellers try to claim the investment was subject to an exemption. Our lawyers have found though that this is often untrue. Securities law requires either registration or the application of an appropriate exemption before the securities can be sold.
We Know the Law — We Know How to Protect Your Rights
Under securities law, it does not matter if the failure to register was inadvertent. The law and its remedies are available regardless of whether any fraud was committed. In fact, even if the purchaser has signed an agreement acknowledging his or her awareness that the securities are or could be unregistered, this is no defense.
In other cases, of course, the lack of registration is part of an overall scheme involving stock fraud or misrepresentation. In addition to securities registration violations, Warren Gammill & Associates, P.L. has handled securities fraud litigation. We especially litigate issues concerning the constitutional validity of some exemptions to the registration statute.
There Are Time Limits to Obtain a Refund
In order to rescind your investment transaction and recover your investment or damages, your lawsuit must be filed very promptly or else you may lose your legal rights.
Contact Us in Miami for an Initial Consultation
If you have purchased unregistered securities or through an unregistered dealer, the time available to file a claim is already running. Contact us today to see if you have a viable claim.