On October 10, 2019, the Securities and Exchange Commission’s (“SEC”) Office of Investor Education and Advocacy and Retail Strategy Task Force issued an investor alert and bulletin (“Investor Bulletin”) titled, “Don’t Fall for an Investment Scam – Investor Alert.” The SEC issued several tips including the following: (1) avoid get rich quick schemes; (2) check the background of those selling or offering you an investment; and (3) look out for common tricks used by con artists to attract investors, such as fake testimonials or a sense of urgency. The SEC’s Investor Bulletin also includes several videos to show actual examples of strategies scammers use to lure in investors. A common theme in the SEC’s advice is that “[i]f it seems too good to be true, it probably is.”
The full Investor Bulletin is linked below:
https://www.sec.gov/oiea/investor-alerts-and-bulletins/ia_dontfallscam
About Faruqi & Faruqi, LLP
Faruqi & Faruqi, LLP focuses on complex civil litigation, including securities, antitrust, wage and hour and consumer class actions as well as shareholder derivative and merger and transactional litigation. The firm is headquartered in New York, and maintains offices in California, Georgia and Pennsylvania.
Since its founding in 1995, Faruqi & Faruqi, LLP has served as lead or co-lead counsel in numerous high-profile cases which ultimately provided significant recoveries to investors, direct purchasers, consumers and employees.
To schedule a free consultation with our attorneys and to learn more about your legal rights, call our offices today at (877) 247-4292 or (212) 983-9330.
Faruqi & Faruqi
New York office
Tel: (212) 983-9330
Fax: (212) 983-9331