Northampton, MA asked in Stockbroker Fraud for Utah

Q: I paid for public stock and never received it. What should we do?

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1 Lawyer Answer
Zaven Andranik Sargsian
Zaven Andranik Sargsian
  • Salt Lake City, UT
  • Licensed in Utah

A: This is a situation where you should indeed speak with a lawyer in Salt Lake City, or wherever you are located. A few things, however, are not clear about your situation: firstly, when you state "public stock," do you mean you purchased shares of a publicly traded corporation? Also, since stocks nowadays are generally not physically held, but are electronically accounted for, I am not sure what you mean when you say that you never "received it."

In any case, without the benefit of research, you would likely have a breach of contract claim -- a seller, in other words, promised to deliver stock to you, you paid money (or something of value), but the stock was never delivered. Any other claims you may have will depend on the facts and circumstances surrounding your purchase, including what documents you may have evidencing your purchase. Again, you should consult a Utah attorney; ideally one that is familiar with securities law.

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