The Wisconsin Uniform Securities Law, and specifically, Wis. Stat. Sec. 551.501, concerning “General fraud” states that:

It is unlawful for a person, in connection with the offer, sale, or purchase of a security, directly or indirectly, to do any of the following:

(1) To employ a device, scheme, or artifice to defraud.

(2) To make an untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in light of the circumstances under which they were made, not misleading.

(3) To engage in an act, practice, or course of business that operates or would operate as a fraud or deceit upon another person.

Wis. Stat. Sec. 551.501 General fraud. (Wisconsin Statutes (2016 Edition)).

Civil Liabilities

The Wisconsin Uniform Securities Law, Wis. Stat. Sec. 551.509(2), also provides for certain civil liabilities and states that

A person is liable to the purchaser if the person sells a security in violation of s. 551.301 or 551.501 and, as to s. 551.501 (2), the purchaser did not know the untruth or omission and the seller cannot sustain the burden of proof that the seller did not know and, in the exercise of reasonable care, could not have known of the untruth or omission. An action under this subsection is governed by the following:

(a) The purchaser may maintain an action to recover the consideration paid for the security, less the amount of any income received on the security, and interest at the legal rate under s. 138.04 from the date of the purchase, costs, and reasonable attorney fees determined by the court, upon the tender of the security, or for actual damages.

Wis. Stat. Sec. 551.509 Civil liability. (Wisconsin Statutes (2016 Edition)).

In Wisconsin, FINRA Arbitration hearings are held in Milwaukee

Under the FINRA Code of Arbitration Procedure, the FINRA Securities Arbitration hearing locations will selected based upon the hearing location closest to your residence at the time of the events giving rise to the dispute.

Additional Wisconsin Investor Resources:

Department of Financial Institutions
Division of Securities
201 W. Washington Avenue, Suite 300
PO Box 1768
Madison, WI 53701-1768
http://www.wdfi.org/fi/securities/

Patricia D. Struck
Administrator
(608) 266-1064
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Guiliano Law Group – Securities Arbitration & Investment Fraud Lawyers Serving Wisconsin

Our practice is limited to the representation of investors. We accept representation on a contingent fee basis, meaning there is no cost to you unless we make a recovery for you. There is never any charge for a consultation or an evaluation of your claim.  All consultations are confidential. For more information, contact us at (877) SEC-ATTY.

If you have been the victim of securities fraud or investment fraud you should contact a lawyer. Our services are offered on a contingent fee basis. We will receive payment for services in connection with your case only if there is a recovery.  You will not be required to advance any fees to the firm during the course of the litigation. 
 In the event that a settlement, award, or recovery is not made, clients have no financial or other obligation to us.  Not admitted in all jurisdictions.  The determination for the need for legal services and the choice of a lawyer are extremely important decisions that should not be based solely on advertisements or self proclaimed expertise. The limitation or concentration in any area of practice does not mean that a lawyer is a specialist or expert in a field of law, nor does it mean that the lawyer is necessarily any more expert or competent than any other lawyer.  See Important Disclaimer.

All claims arising under state and federal securities laws must be brought within a specified time from the discovery of these claims, or within the occurrence of the events giving rise to your claims, whichever is shorter.  If you fail to do file an action within this period, your claim may be potentially barred by the statute of limitations.

For more information concerning common claims against stockbrokers and investment professionals, please visit us at securitiesarbitration.com.

To learn more about FINRA Securities Arbitration, and the legal process, please visit us at securitiesarbitrations.com.