How do I know if I have a claim worth pursuing?

Suffering losses in the stock market, annuities, or other investments does not necessarily mean that you have a valid arbitration claim.  There are many situations, however, where broker misconduct is the cause of an investor’s losses.  An important first step in knowing whether you have a valid claim is to consult with an experienced securities arbitration attorney.  At Lucking LLC, we offer free consultations to help you determine if you have a claim worth pursuing.

How likely is it that I will win my case?

There are no guarantees with securities arbitration, and it is impossible to predict with certainty the outcome of any particular claim.  Statistics reveal, however, that roughly 88% of all customer cases filed settle before the case proceeds to a final arbitration hearing.

Will I have to pay any up-front attorney's fees to file an arbitration claim?

No.  At Lucking LLC, we offer flexible billing arrangements, including the option to hire the firm on a contingency basis.  For contingency cases, you will not pay any attorney’s fees unless we recover something for you.  You will, however, be responsible for out-of-pocket expenses such as filing fees and arbitration hearing session fees.

How much are FINRA's filing fees?

Your filing fee will depend on the amount of your claimed damages.  For claims under $50,000, the filing fees range from $50 to $600.  For claims between $50,000 and $1 million, the filing fees range from $975 to $1,575.  Claims over $1 million require a filing fee of $1,800.  If the case settles more than 10 days before the arbitration hearing begins, then most of the filing fee will be refunded.

How much are FINRA's arbitration hearing fees?

As with filing fees, FINRA’s arbitration hearing fees depend on the amount of claimed damages, with fees ranging from $50 per day to $1,200 per day.  After a hearing, the arbitration panel assigns the hearing fees in its Award.  The fees can be split or assigned to one side.  Typically, a panel either assigns the fees entirely to the brokerage firm or divides them equally between the parties.

How long will it take to resolve my arbitration claim?

Most claims filed with FINRA are resolved 12 to 18 months after the filing of the Statement of Claim.

Have I lost my right to sue if the stock purchases at issue took place years ago?

Not necessarily.  There are two factors to consider when determining whether you still have time to bring a claim: (1) FINRA eligibility and (2) applicable state and federal statutes of limitation.

  • FINRA eligibility:  Claims are eligible for FINRA arbitration if they are filed within six years of the occurrence or event giving rise to the dispute.  In some cases, the date of the occurrence or event at issue may simply be the date of the disputed stock purchase.  In other cases, however, the event at issue may have occurred well after the date of purchase.
  • Statutes of limitation:  There are a variety of state and federal claims that may be asserted in a securities arbitration.  Some claims have statutes of limitation as short as two years, while others are as long as five years.  Moreover, for some statutes of limitation, the clock does not start ticking until after an investor discovers the misconduct at issue.  Statute of limitation considerations will be discussed up front during your initial consultation.