UM law school launches investor rights clinic

University of Miami School of Law has launched a clinic to help investors who believe they were victimized by a broker.

The University of Miami 
 

University of Miami
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School of Law is launching an investor rights clinic. It will serve as a resource to investors who might have claims against a broker that are so small that the investors cannot find an attorney willing to take the case.

“Investors with modest claims … are often unable to obtain legal representation because the claim is too small for an attorney to accept it on a contingency basis, and the investor cannot afford to pay hourly legal fees,” clinic director Teresa Verges said in a news release. “That’s where the clinic may be able to help.”

The clinic expects to handle claims including allegations that the broker recommended investments that were not suitable for the investor, improper “churning” of investors’ accounts to generate fees, misrepresentation and unauthorized trading.

The clinic is funded by a grant from the Financial Industry Regulatory Authority’s Investor Education Foundation and the UM School of Law.

Second- and third-year law students, under faculty supervision, will meet with potential clients and file claims if they are determined to be legitimate.

The clinic will not charge attorney’s fees. However, because of limited resources, preference will be given to South Florida residents and senior citizens.

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