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Each state, within the United States, has its own statutory framework that generally governs various relationships between its citizens. In the s4tate of Florida, these statutes are codified in, what else, the Florida Statutes. Because of the fact that this website primarily deals with securities, commodities and precious metals matter, this post will focus on Florida Statute 517, which is known as the Florida Securities and Investors Protection Act. To demonstrate how complicated some of these statutes are, even within Chapter 517, there are various statutory claims that can be made. It is for this reason that it is advisable for the reader to consider retaining experienced trial counsel.
Before reading the following post, please keep in mind that this information is being provided for educational purposes only and should not be considered as legal advice.Florida Statutory Security Claims
In order to understand the breadth of the Florida statutory remedy for securities fraud, one needs to look no further than the language of the statute itself.
To supplement the statutory provisions of Chapter 517, the Florida Office of Financial Regulation has adopted various regulations as codified in the Florida Administrative Code, which provides guidance for customers and broker-dealers of their duties, obligations and rights under Chapter 517.
There is a plethora of state and federal court cases that discuss various factual circumstances under which a violation of Florida Statue 517.301 has been found to exist. Whether or not your unique factual situation would form the basis of such a violation requires your consultation with experienced securities counsel. This is especially important for the reason that Florida Statue 517.211(2), which details the remedies available to investors for violation of Florida Statute 517.301, in subsection (6) provides that “in any action brought under this section, including an appeal, the court shall award reasonable attorneys’ fees to the prevailing party unless the court finds that the award of such fees would be unjust.
Additionally, there may be other provisions of Florida Statue 517 such as sections 517.07 (Registration of Securities) and 517.12 (Registration of dealers, associated persons, investment advisors and branch offices, which may be relevant to you matter.Other Frequently Utilized Florida Statutory Claims
For guidance in claims involving allegations of state law violations, clients turn to attorney Russell L. Forkey in Boca Raton. To arrange your free initial consultation with an experienced securities litigation lawyer, contact the firm online or by telephone at 561-406-4644.