Legal Question in Securities Law in Montana

Bad Broker Advice

I recently lost a very large amount of money with the market crash in July. I was talked into holding almost all my stocks in one company, total value before crash about $700,000. I had a margin account and when I wanted to sell everything to save it my broker kept telling me to hold up as the stock would go back up very soon. It ultimately wiped out the entire account as the stock declined to 50% of its prior value. The broker seems to have some special interest in the involved company. I would like to try to recover this with a law firm that would accpet a contigency fee.


Asked on 9/23/02, 11:37 am

1 Answer from Attorneys
Michael Paradise Law Offices of Michael S. Paradise

Re: Bad Broker Advice

It sounds like you have an undue concentration claim and a claim for unsuitability, among others. If you would like a free consult, please contact me.

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Answered on 9/23/02, 12:26 pm


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