The Nevada Securities Act, and specifically, Nev. Rev. Stat. 90.570, relating to the “Offer, sale and purchase: of securities states that:
In connection with the offer to sell, sale, offer to purchase or purchase of a security, a person shall not, directly or indirectly:
1. Employ any device, scheme or artifice to defraud;
2. Make an untrue statement of a material fact or omit to state a material fact necessary in order to make the statements made not misleading in the light of the circumstances under which they are made; or
3. Engage in an act, practice or course of business which operates or would operate as a fraud or deceit upon a person.
Nev. Rev. Stat. 90.570 (Nevada Revised Statutes (2016 Edition)).
The Nevada Securities Act, with respect to civil liability provides that:
1. A person who offers or sells a security in violation of any of the following provisions:
(a) Subsection 1 of NRS 90.310;
(b) NRS 90.460;
(c) Subsection 10 of NRS 90.500;
(d) Subsection 2 of NRS 90.570;
(e) Subsection 2 of NRS 90.610; or
(f) A condition imposed in subsection 8 or 9 of NRS 90.500,
is liable to the person purchasing the security. Upon tender of the security, the purchaser may recover the consideration paid for the security and interest at the legal rate of this State from the date of payment, costs and reasonable attorney’s fees, less the amount of income received on the security. A purchaser who no longer owns the security may recover damages. Damages are the amount that would be recoverable upon a tender less the value of the security when the purchaser disposed of it, plus interest at the legal rate of this State from the date of disposition of the security, costs and reasonable attorney’s fees determined by the court.
Nev. Rev. Stat. 90.660 Civil liability. (Nevada Revised Statutes (2016 Edition)).
In Nevada, FINRA Arbitration hearings are held in Reno and Las Vegas
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 Nevada
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. 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.
Additional Nevada Investor Resources:
Secretary of State
555 East Washington Avenue
Las Vegas, NV 89101
The investment fraud attorneys at the Guiliano Law Firm serve clients throughout Nevada!