Mark:
All claims arising under state or federal law have deadlines, are time sensitive and will be forever barred or lost if not brought within a specified period of time after these events occurred or should have been discovered. Under the federal securities laws, all such claims must be brought within two (2) years from the date of discovery of any such claim, or five (5) years from the date of the occurrence of the events giving rise to the claim(s), whichever is shorter.
Under state law, generally, all claims for common law fraud, breach of fiduciary duty, or other tort claims, must be brought within two (2) years of the date of discovery upon the exercise of reasonable diligence. If you fail to bring your claims within these proscribed times, your claims may be forever lost or time barred. So you need to act quickly.
Also, because the person is an "investment advisor" they may not be subject to the jurisdiction or arbitration before FINRA (the Financial Industry Regulatory Authority), and instead the investment advisory agreement may require submission before the American Arbitration Association (which is often placed in these agreements as a deterent because AAA so so costly).
If you are interested in pursuing this matter, you should contact qualifed counsel, and you may want to contact us or find an attorney at www.piaba.org (the Public Investors Arbitration Bar Association).
Nick
