PIABA, the group of investor-attorneys that are beloved by all financial advisors, have had their Foundation release a “study” ripping the current expungement process to shreds. Yes, the same niche of investor-attorneys known for their billboards along the highway trying to Jedi Mind Trick the next elderly investor into manufacturing frivolous allegations, have gotten self-righteous.
Since we are the only firm exclusively representing advisors, we figured it was our duty to point out some of the problems with their rant.
- Given the inconsistencies in their arguments, perhaps they should be giving attention to the fact that a single PIABA member has requested $1 in monetary damages eleven times since 2015. The very same practice which their manifesto describes as abusive “and possibly fraudulent.”
- Calling for an investigation to uncover “collusion” would perhaps be most fruitful by launching an inquiry into how one attorney was able to complete in under two-months, a process which typically takes eight or nine months.