Beginning in the early 1900s, state legislatures bowed to pressures to regulate the sale of securities.  In 1911, Kansas led the way; it passed the first state securities laws.  State securities laws thereafter became known as “blue sky” laws.  Reportedly, that peculiar phrase is derived from the observation that innocent investors had been enticed to buy nothing more than a piece of the big blue sky.

With the passage of time, blue sky laws sprang up throughout the country.  Unfortunately, they proved to be ineffective in many respects.  The merits of federal legislation became the subject of numerous debates, but no action was taken.  The market crash of 1929, followed by the Great Depression, turned the tide.  Taken together, they served as the straw that broke the camel’s back.  The economic and financial carnage enveloping the country ushered in the enactment of far-reaching federal securities laws.  The Securities Act of 1933, which primarily regulates the offer and sale of newly-issued securities, came first.  It was followed by the Securities Exchange Act of 1934, the scope of which extends to numerous facets of the overall securities industry.  Suffice to say, the Exchange Act has a far more universal reach than does the Securities Act.  Section 10(b) of the 34 Act, combined with Rule 10b-5, serve as the bulwark in the fight against fraud.  On a basic, fundamental level, they coalesce with one another so as to prohibit fraud in connection with the purchase or sale of a security.

Recognising that a failure to disclose certain information can be just as misleading as an outright falsity, the text of Rule 10b-5 leaves no doubt that it encompasses both untrue statements as well as material omissions.  The materiality threshold is met so long as there is a substantial likelihood that a reasonable investor would consider the underlying information important in deciding whether to buy or sell the securities in question.

The discussion set forth above is not confined to the academic realm.  Day after day, week after week, slick financial advisors fleece ordinary investors via outright falsities and half-truths.  If you believe that you have been tricked or deceived in connection with a securities transaction, reach out to a first rate investment fraud attorney.  Most attorneys will set aside a block of time to discuss your fact pattern at no cost.  Summarize the events that have taken place — and then allow the attorney to provide you with an overview of his or her assessments.  While that conversation unfolds, be alert to signs that the lawyer with whom you are speaking is not “on top of the details.”  After all, the vast majority of lawyers possess little or no understanding of the FINRA rules governing conduct within the securities industry.  If you develop such concerns, call Chris Bebel.  He is an experienced securities litigation attorney who has been practicing law in Texas for decades.  In the process, he has represented scores of securities fraud victims residing in Texas — and throughout the country.  Along the way, Mr. Bebel has developed a proven record of success, to the extent that numerous law firms located across the nation have retained him for his securities fraud expertise.

Over the course of his highly-successful career, Mr. Bebel has worked in numerous capacities that are connected with the successful pursuit of securities fraud cases — regardless of whether those cases are docketed in court vis-à-vis FINRA arbitration.  In that regard, he has served as a U.S. Department of Justice attorney, an SEC lawyer, a trial advocacy instructor, a published author of scholarly securities fraud articles, a plaintiff’s attorney, an appellate lawyer, and an acclaimed securities law lecturer.  Plus, leading newspapers — such as the NY Times, the Los Angeles Times, and the Wall Street Journal — have featured his analysis on a wide array of securities industry topics.

 

While assessing Mr. Bebel’s background, it is important to recognize that his understanding of the practices which take place within the securities industry go far beyond the language of the governing regulations and statutes.  Simply put, he understands how stock brokers operate in “real life.”  He is keenly aware of the deceptive, deceitful, and dishonest tactics and strategies the most dangerous elements of the securities industry routinely employ.  Framed in more colloquial terms, Mr. Bebel knows “the tricks of the trade.”  Time and time again, he has been able to take advantage of this strength by “getting inside the mind” of a financial adviser who has been accused of fraud.  Indeed, Mr. Bebel’s extensive knowledge of securities industry compliance and supervisory standards has regularly provided him with a “leg up” on his opponents.  In short, his grasp of those crucial subjects will generally be far in excess of the broker’s understanding.  Having served as a financial fraud prosecutor, a securities industry regulator, a plaintiffs’ lawyer, and a defense attorney in a litany of cases, Mr. Bebel has repeatedly leveraged his substantial experience in order to build a stronger case, and thereby advance the interests of the investment fraud victims he represents.  By way of example, in recent years Mr. Bebel has called upon these attributes so as to construct blistering cross-examinations of financial advisors.  The same holds true for the expert witnesses they have retained.

Chris Bebel graduated from Georgetown Law School, where he earned an LL.M. in Securities Regulation.  While attending Georgetown, the school hired him to tutor first and second year law school students.  An educator in his own right, Mr. Bebel has written a collection of scholarly publications dealing with an array of securities law principles.  He has also served as a visiting lecturer at various Texas law schools.  In addition, Mr. Bebel has delivered numerous presentations dealing with a host of securities litigation topics at seminars and meetings situated throughout the nation.  Mr. Bebel works in concert with Bradley Ellison, a retired U.S. Air Force master sergeant.  Mr. Ellison is a conscientious, intellectual paralegal who has earned six degrees, including three graduate degrees.  A gifted and talented writer, Mr. Ellison has frequently “rolled up his sleeves” to enhance the quality of pleadings, motions, responses, and discovery requests.  By combining his sincere, conscientious qualities with his editorial and cerebral talents, Mr. Ellison has repeatedly pulled a large laboring oar.  In doing so, he has advanced the underlying case, while simultaneously furthering the interests of the firm’s clients.  In recent years, Mr. Ellison has played an instrumental role in connection with major victories that have been earned through the dogged pursuit of state court litigation encompassing private offering fraud, which is sometimes referred to as private placement fraud.

It is important to understand that neither Chris Bebel nor Bradley Ellison can offer any express or implied guaranty or promise of success.  Basic ethical standards do not allow for such reckless and irresponsible conduct.  Likewise, it must be recognized that Mr. Bebel has traditionally declined a substantial percentage of the cases investors have presented.  That being said, investors may rest assured that a decision to accept or reject a given case will necessarily be fact intensive; it will turn on a detailed analysis of the particulars.  As a courtesy to prospective clients, Mr. Bebel charges no fee for initial consultations.

If you are the victim of financial fraud, it may be to your advantage to confer with a securities litigation lawyer.  Assuming the attorney with whom you speak is a veteran investment fraud lawyer, he or she should be able to promptly identify the potential rights and remedies which exist under state and federal law.  Significantly, however, investors who endeavor to arrange for a conference with an investment fraud attorney must proceed carefully and thoughtfully.  Vast differences exist among securities lawyers.  Investors who retain the services of an untested novice attorney may trigger yet another level of grief and frustration.  To state the obvious, it will usually be more productive and beneficial to hire a knowledgeable and experienced securities fraud lawyer, such as Mr. Bebel.  On a pragmatic level, Mr. Bebel’s knowledge, understanding, expertise, and skill can scarcely be questioned — as demonstrated by the numerous occasions on which securities lawyers situated across the country have retained him as an expert.  In sum, Mr. Bebel’s trial experience, coupled with his repeated retention as a securities fraud expert, render him uniquely qualified to serve as an advocate for investors who have suffered financial losses as a result of stock broker fraud and investment adviser fraud.  Although Mr. Bebel is based in Texas, it is important to understand that his representation is not limited to Texas investors.  Over the years, he has established a record of success while representing investors residing throughout the country.

If you suspect that you may have been subjected to financial adviser fraud, don’t settle for an inexperienced securities law attorney.  Instead, call Chris Bebel and explain the circumstances of your particular situation.  Put his experience, skill, and expertise to work for you.  Even if he does not accept your case, he may be able to offer you valuable securities fraud insights.

Above all, it is essential that you not stand idle.  Depending on the circumstances, there may be a need to act quickly.  For instance, statutes of limitations and other time constraints may bar a recovery if a lawsuit is not promptly filed.  To speak with Chris Bebel, call Tefteller Law, PLLC, a respected securities law firm, today.