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Securities Fraud

Can An Out-Of-State Lawyer Participate In Indiana FINRA Actions?

All states have laws about the unauthorized practice of law, including Indiana. These laws prevent those without a law license issued from the state of Indiana from representing individuals legal matters in this state, with some exceptions allowed for temporary admission for those with out of state licenses based on certain guidelines. However, with the rise of alternative dispute resolution, including arbitration with the Financial Industry Regulatory Authority (FINRA), many people have questioned whether out of state investment fraud lawyers can participate in these actions held in Indiana, or whether that would be considered the unauthorized practice of law. FINRA itself...

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Indiana’s New Class Action Rule Helps Low Income Hoosiers

In late September 2010 the Indiana Supreme Court announced an amendment to Indiana Trial Rule 23, concerning class actions, which goes into effect on January 1, 2011. This amendment added a new subsection (F) concerning the disposition of residual funds from the class action award or settlement, and the most interesting thing about it is that it mandates that a minimum of 25% of those funds go towards funding for pro bono legal assistance for low income Hoosiers. Residual funds can be quite common in class actions, especially consumer class actions, with large classes of people, each of whom has suffered...

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