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FINRA Securities Arbitration Statistics – October 2009

FINRA recently reported its October 2009 arbitration statistics. As of October 31, 2009, 6,113 claims were filed, compared to only 3,971 as of October 31, 2008, an increase of 54%. FINRA also reported that 3,697 cases were closed through October and that the average turnaround time for cases that go to an arbitration hearing has declined by 9% (14.3 months from 15.8 months).

The most frequent securities and investment claims/controversies involved in arbitration continue to be breach of fiduciary duty, misrepresentation/fraud, negligence, and breach of contract. Mutual funds and common stock also remain the most common type of securities involved in arbitration claims.

Investors have also prevailed in a larger percentage of cases decided (by hearing or on the papers). As of October 31, 2009, 516 cases had been decided and investors prevailed in 236 (46%) of those cases. This does not include cases that settled in favor of the investor.

The Kueser Law Firm represents investors in securities arbitration. If you feel that your investments have been mismanaged, please contact our firm to discuss your rights.

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