The Colorado Uniform Securities Act, Colorado Revised Statutes 11-51-501, with respect to “Fraud and other prohibited conduct” provides that:
1) It is unlawful for any person, in connection with the offer, sale, or purchase of any security, directly or indirectly:
a) To employ any device, scheme, or artifice to defraud;
b) To make any untrue statement of a material fact or to omit to state a material fact necessary in order to make the statements made, in the light of the circumstances under which they are made, not misleading; or
c) To engage in any act, practice, or course of business which operates or would operate as a fraud or deceit upon any person.
Colo. Rev. Stat. § 11-51-501 Fraud and other prohibited conduct. (Colorado Revised Statutes (2016 Edition)).
Colo. Rev. Stat. § 11-51-604, with respect to Civil liabilities provides that:
(4) Any person who sells a security in violation of section 11-51-501 (1) (b) (the buyer not knowing of the untruth or omission) and who does not sustain the burden of proof that such person did not know, and in the exercise of reasonable care could not have known, of the untruth or omission is liable to the person buying the security from such person, who may sue to recover the consideration paid for the security, together with interest at the statutory rate from the date of payment, costs, and reasonable attorney fees, less the amount of any income received on the security, upon the tender of the security, or is liable for damages if the buyer no longer owns the security. Damages are deemed to be the amount that would be recoverable upon a tender, less the value of the security when the buyer disposed of it, and interest at the statutory rate from the date of disposition.
Colo. Rev. Stat. § 11-51-604 Civil liabilities. (Colorado Revised Statutes (2016 Edition)).
In Colorado, FINRA Arbitration hearings are held in Denver
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.
Guiliano Law Firm – Securities Arbitration & Investment Fraud Lawyers Serving Colorado
Our practice is limited to the litigation of securities related matters and securities arbitrations against stockbrokers, brokerage firms and investment professionals for fraud, the sale of defective investment products, failure to conduct due diligence, negligence, the sale of unsuitable investments, churning or excessive activity, failure to supervise, breach of fiduciary duty, and the sale of unregistered securities.
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. 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.
Additional Colorado Investor Resources:
Division of Securities
Denver, CO 80202
(303) 861-2126 (Fax)
The investment fraud attorneys at the Guiliano Law Firm serve clients throughout Colorado!