Retail Securities Litigation & Consulting

With over 165 financial industry experts and consultants, Bates Group is one of the nation's leading financial services litigation consulting and expert witness firms. Applying our extensive industry experience, we are uniquely positioned to assist broker-dealers and investment advisers, State and Federal Regulators, and retail and institutional investors, providing effective solutions in pre-litigation and litigation settings for our clients and their counsel. Our quantitative analysis and qualitative case strategy, advice, and expert testimony cover the full spectrum of the retail investment industry. We work closely with our clients to examine the issues, markets, industry, regulatory context, historical analogy, and other experts’ work product to develop thoughtful, precise, and dispassionate analysis and testimony based on experience and judgment.

Bates can play an integral role in helping counsel understand the nature, and assess the validity, of allegations, and present the results of that assessment in a format which counsel can easily interpret and explain. 

Our accomplished team of former SEC and industry regulators, former senior in‐house legal and compliance officers, former brokers, advisors and managers, Chartered Financial Analysts (CFAs), Certified Fraud Examiners (CFEs), and Certified Public Accountants (CPAs) has decades of experience and is proficient at assisting clients with the case issues at all stages of the legal process: providing early case assessments, preparing P/(L) analyses, preparing damage analyses and “what if” scenarios,  providing expert consultation in mock arbitrations or in mediation & settlement discussions, and expert witness testimony if the need arises.

Issues We Address

Sales Practice

  • Supervision
  • Suitability
  • Regulation Best Interest - Reg BI
  • Diminished Capacity

Employment Related Disputes

  • Wrongful or Constructive Ttermination of Advisors
  • U4/U5 Disclosure
  • Promissory Note Disputes
  • Advisor Transition/Broker Protocol
  • Advisor Employment Disputes [Link]

Data Analysis

  • P/(L) Analyses
  • Damages Assessment & Calculations
  • Market Analyses (Macro and Micro)
  • Product Analyses
  • Business Valuations

Operation of Trusts

  • Breach of Fiduciary Responsibilities
  • Portfolio Management
  • P/(L) Analyses
  • Damages 

Trading Related Issues 

  • Insider Trading
  • Market Manipulation
  • Currency Trading
  • Failure to Hedge Concentrated Positions 
  • Unauthorized Trading 
  • Margin Calls 
  • Churning
  • Selling Away
  • Best Execution
  • Clearing

Due Diligence

  • Adequacy of Disclosures
  • New Product Due Diligence
Products We Have Addressed
  • Real Estate Investment Trusts (REITs)
  • Tenancy In Common Investments (TICs)
  • Oil & Gas Limited Partnerships (LPs) and Master Limited Partnerships (MLPs)
  • Business Development Companies (BDCs)
  • Puerto Rico Closed-End Bond Funds
  • Puerto Rico Bonds
  • Special Purpose Acquisition Companies (SPACs)
  • Life Insurance and Annuities
  • Collateral Calls
  • Options
  • Exchange-Traded Funds (ETFs)
  • Fixed Income Securities
  • Equities
  • Domestic and International Securities
  • Employee Stock Ownership Plans
  • Foreign Currency
  • Yield Enhancement Strategies (YES)
  • Structured Products
  • Volatility Linked/Leveraged Products
  • Non-Purpose Loans
  • Margin Loans
  • Auction Rate Securities
  • Callable Yield
  • Disbursements
  • ETRACS
  • Futures
  • Government Sponsored Entities
  • Hedge Funds
  • High Yield Bonds
  • Managed Distribution Programs
  • Mutual Funds
  • Non-Publicly Traded Alternative Investments
  • Preferred Securities
  • Research/Rating Agencies
  • Sub Prime Mortgages
Clients we Serve and Forums in Which We Operate

Clients We Serve

  • Broker Dealers
  • Independent Broker Dealers
  • Investment Advisors
  • SEC
  • NASAA
  • State Regulators
  • Retail Investors
  • Insureds
  • Insurance Agents
  • Insurance Carriers
  • Insurance Coverage Firms
  • Insurance Claims Departments

Forums in Which We Operate

  • FINRA
  • AAA
  • State Court
  • Federal Court
  • Mediation

Additional Resources

Retail Securities Experts

Case Examples

Arbitrator Evaluator™ - Independent Arbitrator Rankings