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Damages Related to Private Placements & Illiquid Securities - Transcript

The damages in these cases are interesting so in an annuity let’s say that the annuity was improperly sold you could seek damages relating to any penalties for withdrawing the money out of the annuity for example and you could argue well managed damages so you know I should have gotten XYZ income or interest during the period that I didn’t get or that I should have gotten there’s also a risk for those that you know don’t know how to annuitize an annuity and that means at some point in the annuity’s life sometimes there are ongoing benefits post uh the lock-up period and you can annuitize that at an optimal time if your broker or advisor has not advised you how to do that most people don’t know how to do that these contracts are extremely complicated there may be damages for the law loss of future benefits in these contracts with private placements and liquid Securities you know what one of the things that you’re usually seeking is a rescission you still hold the investment you want you can’t get out of the investment that’s why it’s a liquid and you seek to give it back to the broker dealer or the investment advisor and make them pay you make you whole for all the money you put in and potentially interest and well-managed uh damages for the period that you were in that investment and shouldn’t have been in that investment there are possibilities to go to a secondary Market but you know again a secondary Market may cause you to lose 30 to 50 percent of the current value which may not be the full value the essence of the Securities laws is to make the investor whole and that is the goal.

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