Prosecuting And Defending Fraud Claims
In a breach of contract case, somebody makes a promise and later fails to keep it, but in a fraud case, somebody makes a false statement designed to make their victim act in a specific way that ultimately damages the victim.
A fraud also takes place when a person with a duty to disclose information omits that information in order to make their victim act in a specific way that ultimately damages the victim. Victims of a fraud are entitled to recover their actual damages, attorney’s fees, and sometimes punitive damages from the fraudster they relied upon. Ordinary (or “common law”) fraud is a claim under state law that cannot be the basis for bringing a case in U.S. federal court.
Securities fraud is a subset of fraud that involves a material misrepresentation or omission in connection with the purchase or sale of securities. Securities fraud claims can be litigated in federal court in a so-called 10b-5 claim. However, recent Supreme Court decisions have muddied the jurisdictional waters where securities fraud claims involve foreign litigants, and events that take place abroad.
The trial attorneys of Ford O’Brien Landy LLP have significant experience litigating claims of securities fraud, and common-law fraud in state and federal courts. Our lawyers will provide you with detailed information regarding the options available to you, and act immediately to help you obtain results.