Securities Litigation

Pullman & Comley's litigators have experience with claims under the federal and state securities laws and common law, including claims of unauthorized trading, suitability, breach of contract, breach of fiduciary duty, fraud and misrepresentation, failure to supervise, churning, and other allegations.  Securities cases almost invariably involve complicated financial transactions and often turn on who knew what and when.  We pride ourselves on our ability to determine the answers to those questions and fashion a strategy tailored to our client’s needs, the litigation venue, and our opponent’s motivations.

The firm’s securities litigators frequently represent securities professionals and market participants in the state and federal courts, before arbitral tribunals, and in private and judicially-supervised mediation proceedings.  In addition, we offer knowledge and insight into the Financial Industry Regulatory Authority (the successor to NASD, the National Association of Securities Dealers) and frequently represent broker-dealers, investment advisors, and institutional and individual investors in FINRA’s specialized arbitration and mediation proceedings.

Representative Experience

  • Defended investment advisory client against common-law and Blue Sky claims by institutional advisee whose former officer had diverted assets under management. After expert discovery and limited motion practice, the matter was successfully resolved by private mediation in advance of trial.
  • Represented one of New England's leading liberal arts colleges, which claimed that its financial broker had failed to make trades of stock gifted to the college in accordance with their long standing agreement, resulting in significant losses after the market collapse.  A FINRA panel arbitrated and found in favor of client, awarding nearly 100 percent return on losses. 
  • Defended financial advisory client in lawsuit brought by individual who claimed significant losses with the market crash and that her account opening agreement was a contract of adhesion; secured dismissal of case.
  • Successfully represented a brokerage client sued by customers claiming more than $100,000 in losses during the market downturn; after a five day hearing, FINRA arbitration panel rejected bulk of claims and limited its award to out-of-pocket costs.
  • Defended a publicly traded company accused of back-dating stock options in derivative cases brought in state and federal court, securing a dismissal of the federal action for failure to make adequate demand.

Case Studies