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Practice Area Financial & Securities

Money makes the world go 'round, and someone always is trying to go around a little faster than the law allows.  Our experience handling claims in the financial field includes claims brought in state and federal court, claims pursued through the industry arbitration process—Financial Industry Regulatory Authority (“FINRA”) arbitrations, and class actions involving securities fraud and corporate governance issues.

Banking and lender liability claims

The lawyers at Duffy & Young represent individuals and companies in lawsuits against banks for misleading borrowers and misleading investors. We represent clients who have suffered damages resulting from a bank or other financial institution’s failure to follow regulations and its own policies, such as obtaining all proper identification when opening an account or allowing transfers of substantial assets without proper authorization. For plaintiffs, we look for cases where there is a real injustice and we can help make it right.

We also represent certain banks and financial institutions in defense of lawsuits, including members of the Board of Directors or Officers who are seeking to operate a business in the best interests of its shareholders. Not every foreclosure or every termination of an officer is against the law.

Securities fraud

We represent individuals whose trust in financial advisors proves to have been misplaced and shareholders who lose while officers and directors of the company gain. South Carolina law and federal law demand honest, effective disclosures, but the boilerplate language common in the industry often does not meet those requirements, and at times simply is not intended to. Moreover, the Financial Industry Regulatory Authority (“FINRA”) rules dictate that a registered financial advisor must make decisions in line with the appropriate goals expressed by the client, and not simply press investments on clients because the advisor will earn higher fees. Duffy & Young has employed the FINRA arbitration process as an efficient method for bringing these types of claims on behalf of clients.

We are currently investigating civil claims against George Heckler, an investment adviser in the Charleston area. Read more about our investigation HERE.

Shareholder derivative actions

The derivative action, or action on behalf of the organization, is an underutilized and misunderstood tool for owners of a company. Although the technical details can be exacting, the results can be powerful. Duffy & Young’s attorneys have pursued and defended these derivative actions on behalf of individuals with ownership interests in small companies and as class actions involving large corporations.

Attorneys who can help