Small Claims 

Simplified Arbitration.

No formal hearing, No testimony, Swift Justice. 

If you lost $50,000 or less, this is the forum for you.

I want to tell you about a little known process that has recently has been modified – Simplified Arbitration, otherwise known as Small Claims arbitration.  Many small investors can’t afford to spend the time and expensive of preparing for, traveling to and participating in a FINRA arbitration.  In response to the needs of the small investor, FINRA has expanded its Simplified Arbitration process so that it now includes losses of $50,000 or less.

What does this mean for the small investor – those with losses of $50,000 or less?  It means that the small investor now has the right to bring an action before FINRA at a significant reduction in cost and time.   And best of all, you will not have to attend an arbitration hearing.   Small Claims arbitration is considered a special procedure under the FINRA code.  Under these special rules, an investor can file a claim without having to present evidence at an arbitration hearing.  You will not have to pay for the cost of travel, hotel or other expenses associated with an arbitration hearing.

You will be assigned one arbitrator who will decide your matter based upon the pleadings, and in some instances, documentary evidence that you may wish to attach to your claim.  Once you have filed your claim, the brokerage firm will respond with their answer to your claim and in a relatively short time, the arbitrator will render a decision.

The time from the filing of your claim to the arbitrator’s decision is usually less than seven months – an extraordinarily short time in the legal world.  There are some instances in which very limited discovery can take place, but this is not the norm.

Should you file a claim without the help of an attorney?  I would strongly suggest that you hire a knowledgeable FINRA securities attorney to prepare your claim for you.  This is the only opportunity you have of convincing one arbitrator that you are entitled to get back the monies you have lost.  You don’t want to leave your argument to an amateur.  Writing a well crafted claim is both art and science.  Let an expert do his or her job.

One problem you will face is paying for the cost of preparing your statement of claim.  Any competent attorney will have to gather the necessary documents, analyze them, interview you and then draft a statement of claim for your approval.  This will cost many thousands of dollars, depending upon the hourly rate of the attorney you choose.  It is doubtful that you will be able to hire a competent attorney on a contingent fee basis because contingent fee lawyers usually require a client to have losses in excess of $50,000 before they will represent them.  This leaves the small investor with little hope of hiring a competent attorney to prosecute their claim.

I have developed a method to fill this gap.  If you have lost between $10,000 and $50,000 my firm can help you.  The small claims process that I have created is user friendly, cost effective and very quick.  You will not have to pay any hourly fees and you will be surprised just how inexpensive it is.

If you wish to learn more about my small claims process, I have listed the steps from beginning to end so you will know what to expect.  Just click on the “LOSSES < $50,000″ tab and then click on “Small Claims (Steps)“.  I am excited about the process that I have created because for the first time ever, small investors can receive highly competent legal help without having to pay a prohibitive hourly fee.

If you believe that you have been the victim of brokerage fraud or that your stockbroker was merely incompetent, contact our firm today for a free consultation and find out whether can get back the monies that you have lost. We are the experienced broker fraud attorney group.  The law firm of John Lawrence Allen – your securities fraud attorney  – would be honored to have you as a client, and help you reach a successful outcome.  For assistance, call us or complete our online form for a free case evaluation.