Legal Question in Investment Law in Illinois

Dear Sir, I'm a widow since 1996. I invested the inheritance with a financial advisory firm. I was under the understanding that I was paying a fee of 1%. However, after loosing a lot of money, I moved the money and found out I was actually paying closer to 8%. I heard that this may be called "Churning." I spoke to friends who also had their money with this same firm and they lost over $200,000.00. She has never kept any paperwork but I have. Shouldn't we have this looked into. I moved mine to Country Financial June 2009 and my friend last Monday. Is there a statute of limitations that I'd have to file a claim or should we place a lein against his home or what action if any can we take?


Asked on 9/22/10, 1:47 pm

2 Answers from Attorneys
Adam S. Tracy Securities Compliance Group Ltd

Thank you for your question. I am a licensed financial advisor and an attorney. I represent people who have lost money through stockbrokers. It souks seem that you have a timely claim. Please feel free to contact me directly. [email protected]

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Answered on 9/27/10, 10:46 pm
Andrew May May Law, PC

Dear Sir,

I am happy to speak to you about your situation.

I focus my practice on securities law and used to do nationwide defense for several "wire house" Fortune 500 companies. I have also continued my studies and am a few credits shy of receiving my L.L.M. (Masters of Law) in financial services law. Moreover, I am former General Counsel to a broker-dealer and registered investment advisor.

I have succesfully represented many investors such as your self. I encourage you to contact me before an limitations period runs and bars your claim. You can reach me at [email protected] or (847) 675-1052. Please feel free to check out our website at www.maylawpc.net for more information.

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Answered on 9/28/10, 8:14 am


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