Frequently Asked Questions
1. Is my lawsuit being filed with a particular court?
No. The claims our firm is handling on behalf of Lehman Note holders are not being filed in state or federal court, but rather with the arbitration department of the Financial Industry Regulatory Authority, also known as FINRA. FINRA is a self regulatory organization which governs the securities industry in the United States. Brokerage firms in the United States are members of FINRA and subject to its jurisdiction.
2. I do not live in Florida, New York or California. Can Klayman & Toskes still represent me?
Yes. Because your case will be filed in the arbitration forum rather than state or federal court, we can provide legal representation for clients from virtually all over the world.
3. Is my broker or financial advisor going to be sued?
No. We believe that brokerage firms which misrepresented the Lehman Notes to their customers are responsible for losses their customers sustained in the Notes. In fact, our investigation has revealed that in some cases, financial advisors and brokers were not properly trained to sell and explain the Lehman Notes.
4. How does arbitration differ from traditional court litigation?
Arbitration is an expeditious, fair and relatively inexpensive method of dispute resolution. Interrogatories are not allowed, and the use of depositions is extremely limited. In court, litigation can drag on for 4 or 5 years, even before reaching the appellate level. Arbitration typically concludes within 2 years, and the rights of appeal are virtually non-existent.
5. How does Klayman & Toskes get compensated?
Our law firm represents clients on a contingent basis. In other words, if we do not recover money for you, we don't get paid.
If you have any additional questions, please contact us, toll free, at 1-888-997-9956.