Legal Question in Civil Litigation in Texas
Investment fraud and private casue of action
I was defrauded of approximately $35,000 by an investment company that misapproriated my funds and made material
misrepresentations to me regarding liquidity, rate of return, etc. These allegations are corroborated by a recent SEC civil action/order against the company and its principle officers wherein the SEC accused them of similar violations of the law against various elderly investors such as myself.I made a demand for my funds however I have not heard from this Company in over a year and a half.
How can I find out if a private civil action would be worth pursuing? I appear to have a legitimate claim under the various securities laws, but how can I best determine if the potential defendants have sufficient assets as to warrant my hiring an attorney to recover the funds?
At the time of the SEC action the potential defendants resided in Dallas county. I'm unsure as to the best way to investigate any other private actions incidental to the SEC action; I trust that the evidence of other civil actions may indicate the existence of assets on the part of the potential defendants; hence the complaint, provided those plainitffs and their attorney did their homework.
Any advise in this regard would be greatly appreciated!
1 Answer from Attorneys
Re: Investment fraud and private casue of action
SEC violations are federal actions and are prosectuted either in federal district courts or through the SEC itself. There is no way to guarantee what assets may be available for a future judgment. Your best course of action would be to do your own investigation (yourself or through an attorney) to ascertain what lawsuits have been filed and the general status of the defendants. They may have insurance which could be used to pay your claim as well. You may want to contact an attorney who specializes in SEC actions.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
