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3 Reasons to Hire a NJ Securities Arbitration Lawyer
If you have taken a financial hit due to the misconduct of a brokerage firm or stockbroker, you can hire a securities arbitration lawyer to represent you. Many people believe they can represent themselves throughout the arbitration process. In reality, the process can be more complicated than you think. While there are numerous reasons to hire a New Jersey securities arbitration lawyer, three stand out.
Why People Hire a NJ Securities Arbitration Lawyer
Before going to court, most NJ security cases begin with arbitration. One to three arbitrators may be appointed to the case, depending on the amount of money at stake. A securities arbitration lawyer can represent either party and maximize their chances of obtaining remuneration for their losses.
1. Find Out If the Claim Is Viable
People typically feel emotional when they feel defrauded. However, emotion is not the same as evidence. A NJ securities arbitration lawyer will look over the evidence to determine if the person has a valid claim. If there is not enough supporting evidence to move forward, the attorney can advise the claimant to drop the process. Alternatively, if there is a viable claim, the attorney can begin devising the best course of action.
Any discussions about the case will be kept confidential due to attorney-client privilege. In other words, any information shared cannot be used without the client’s consent. This encourages clients to speak candidly during the process, allowing attorneys and clients to develop a strategy when determining a case’s validity.
2. Help Selecting an Arbitrator
Before the arbitration hearing, the Financial Industry Regulatory Authority (FINRA) will provide both sides with a list of arbitrators. Both parties will get to select arbitrators from the list. Just as with jury members, arbitrators may exhibit personal biases that may interfere with a case. A NJ securities arbitration lawyer can help the client narrow down the best possible options, maximizing the chances of success.
3. Help Navigating the Complicated Process
The state of New Jersey uses simplified arbitration procedures for claims under $50,000. Under this process, only one arbitrator is appointed and the sides might not need to attend a hearing. Still, both parties will need to submit documents for the arbitrator to review. A competent attorney can assist in collecting evidence and drawing up said papers.
Furthermore, the process is more complicated when the amount is $50,000 or higher. Both parties will have to attend an in-person hearing and provide testimony. Legal counsel can provide much-needed advice and evidence to use during the hearing.
Hiring a NJ Securities Arbitration Lawyer
Representing yourself during the arbitration process is tempting but may lower your chances of success. If you are about to go to arbitration, consider consulting with an attorney. The attorney can let you know if you have a valid case, help select arbitrators, and navigate the complicated process.
Call us at (732) 449-0449 for more information from Anthony J. Cafaro, P.C. or to schedule a consultation in our office in Sea Girt. NOTE: This is for informational purposes only and does not constitute legal advice.
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