Stock Loss Recovery Claims Process

1. Statement of Claim: A written statement prepared on behalf of the claimant and filled with the Financial Industry Regulatory Authority(“FINRA”), in which the claimant must state the relief sought and the facts supporting the claims against the respondents.

2. Respondent’s Answer: Answer is due 45 days from the date of service of the Statement of claim. The Answer typically refutes the allegations found in the Statement of Claim.

3. Initial Pre-hearing Conference: The arbitrators and the parties(typically via phone) will select dates for the completion of discovery, the filing of any discovery related motions, or other motions(motions to dismiss), and the dates of any phone hearings or conferences with respect to these motions, the filing of pre-hearing briefs or memoranda, and the final hearing dates.
4. Discovery: Parties are required to exchange relevant documentation to the other party in support of their position.  Motions are typically exchanged to compel the release of information that a party is reluctant to provide.
5. Provide Arbitrators Rankings List: Parties are provided 20 days to submit their arbitrator rankings to FINRA.
6. FINRA Hearing: Hearings usually last 2-3 days; however, it is not uncommon for a hearing to last several weeks depending on scheduling issues.
7. Award: Awards are typically issued within 30 days after the hearing.

It can take anywhere from 10 to 15 months to complete the securities arbitration process.  We aim to process our claims faster than any other firm because of our unique approach.  Claimant’s usually receive their award within a year from when it is filled or accept a settlement in a fraction of that time.

We accept representation on behalf of investors on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. Please contact us at (516) 737-1462 for a free consultation.