Legal Question in Securities Law in New York

margin sellout

My brokers sold securities on a margin call without giving me any notice notice Do I have any recourse

How do I get an attorney to rep me in arbitrration

Asked on 4/18/09, 2:37 am

3 Answers from Attorneys

Lawrence R. Gelber Lawrence R. Gelber, Attorney at Law

Re: margin sellout

The margin agreement you signed in all likelihood granted the firm the right to sell you out without notice. However, there may have been wrongful acts that led up to having the margin position in the first place. Gather your documents and consult with a lawyer that handles securities arbitration to learn if you have any viable claim. You can get a lawyer to represent you by entering into an agreement for such services with the lawyer. Please visit Thank you and good luck.

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Answered on 4/19/09, 3:19 pm
William Pinzler william M. Pinzler

Re: margin sellout

Perhaps. If the only grievance that you have is that you did not receive notice, it is a tough case, but it depends on the facts. Regardless, you should certainly consult an attorney. There are many attorneys who have experience in representing claimants in securities arbitrations, including yours truly.

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Answered on 4/18/09, 12:07 pm
Warren Markowitz Warren R. Markowitz, Esq

Re: margin sellout

You dont. There is no notice on a margin sellout. If you dont pay your margin calls you have already been notified that the account will be sold to cover the debit.

If this is your only grievance then you dont have a leg to stand on in arbitration.

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Answered on 4/18/09, 3:32 pm

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