Why More Don’t Come Forward
Most investors don’t realize that they do have recourse for recovery. The average investor you know retiree perhaps is still in shock and and oftentimes they don’t realize that the losses they’ve sustained in their retirement portfolios or their investment accounts may very well have been due to improper conduct. So what PIABA has done what our organization has done is to have an outreach through various means nationally to make known to the investing public that arbitration. Yes it is a remedy it is available and we’re trying to educate the public to quite frankly we’re also trying to educate the public as to how to avoid getting in trouble in the first place and to avoid doing business with disreputable or dishonest financial professionals. Well it’s estimated that only a fraction of those who are victimized in the financial markets really come forward and pursue recovery. A lot of it is embarrassment a lot of it is shame and a lot of it is that people just don’t realize that attorneys will work with victimized investors in fact many attorneys in the victimized investor context will work on a contingency fee basis. Which means that you’re not paying on an hourly rate but rather you make a contract with the attorney and which means that ultimately if there is a recovery the attorney would get paid out of those proceeds but that the client would not be responsible for attorneys fees if the case does not prevail by way of a settlement or an arbitration award.
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