HOUSTON, Aug. 26, 2015 /PRNewswire/ -- Lawyers with the Securities Law Firm of SHEPHERD SMITH EDWARDS & KANTAS LLP, www.sseklaw.com, are investigating claims of investors and clients of Interactive Brokers LLC who suffered losses as a result of an auto-liquidation of their account. The market turmoil from the last week means that many investors who were trading with margin accounts likely had significant portions of their account liquidated to cover margin calls.
The attorneys with SSEK have represented clients of Interactive Brokers who have claimed that when the firm's software began liquidating the securities in the accounts, the client was not given fair prices, also called the "National Best Bid/Best Offer" price, as is generally required under applicable securities regulations. Having the securities bought or sold at prices less favorable than prevailing market prices then caused further margin calls, resulting in a death spiral for the account(s). At least one such client of SSEK has won an arbitration award against Interactive Brokers, where a FINRA arbitration panel ordered Interactive Brokers to financially compensate the client for losses he incurred from this type of liquidation.
If you or someone you know believes their account at Interactive Brokers suffered losses as a result of a wrongful liquidation or margin call, contact the law firm of Shepherd, Smith, Edwards & Kantas LLP for an evaluation of the account to determine if there might be a claim to attempt to recover some or all of the losses. All communications will be kept strictly confidential, and you will not be billed in any way for the consultation.
Shepherd Smith Edwards & Kantas LLP has a team of attorneys, consultants and staff with more than 100 years of combined experience in the securities industry and in securities law. For more than two decades, our firm has represented thousands of investors nationwide to recover losses. We have represented clients in Federal and state courts and in arbitration through the Financial Industry Regulatory Authority (FINRA), the New York Stock Exchange Inc. (NYSE), the American Arbitration Association (AAA) and in private arbitration actions.
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SOURCE Shepherd Smith Edwards & Kantas LLP