Is It Legal for a Broker to Make Unauthorized Trades in a Pennsylvania Account?
When a Broker Trades Without Your Permission Key Takeaways: Unauthorized trading in a Pennsylvania brokerage account is generally illegal and can expose a broker to regulatory discipline and civil liability. Whether a trade is unauthorized depends on your account type, non-discretionary accounts require approval for each trade, while discretionary accounts grant written authority. Brokers must […]
What Is Corporate Takeover Litigation for Stockholders in PA?
Understanding How Pennsylvania Shields Stockholders During Takeovers Key Takeaways: Corporate takeover litigation in Pennsylvania involves stockholders challenging mergers, acquisitions, or control transactions that violate their statutory or fiduciary rights. Pennsylvania courts historically emphasized substance over form through the de facto merger doctrine, which treats an asset purchase as a merger when the deal carries merger […]
What Is Securities Fraud Under Pennsylvania Law?
Securities fraud in Pennsylvania occurs when a broker-dealer, investment adviser, or other registered person engages in dishonest, deceptive, or manipulative conduct in connection with the purchase or sale of securities. Under the Pennsylvania Securities Act of 1972 (70 P.S. §§ 1-401 to 1-409), investors are protected by antifraud provisions that apply broadly to securities transactions […]