Are there any civil remedies for victims of securities fraud?
Yes, there are civil remedies for victims of securities fraud in California. The California Corporations Code provides that any person who is injured by a violation of securities law is entitled to a court-ordered recovery of damages. This means that if someone has been a victim of securities fraud, they may be able to sue the person or company who committed the fraud and seek money damages or other remedies. In California, the Department of Business Overseeing (DBO) can also conduct investigations into possible securities fraud and provide civil remedies to victims. In some cases, the DBO might seek an injunction to stop a person from continuing to engage in fraud and may impose civil penalties or order restitution to victims. In addition to the remedies available under state law, a victim of securities fraud may also be able to seek remedies under the federal securities laws. The U.S. Securities and Exchange Commission (SEC) can bring civil enforcement actions against individuals or entities who violate the federal securities law. The SEC can seek monetary penalties and other remedies such as disgorgement of profits from the person or company who committed the fraud. If you think you have been a victim of securities fraud, it is important to contact a qualified securities attorney who can help you understand your legal rights and pursue your legal remedies.
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