As media giants like Facebook work hard to now rid themselves of fake news centered around political postings it appears that a number of security law firms continue to adopt this practice in the hope of generating new business leads.
These securities lawyers and firms troll and cite public regulatory records, using even minor administrative offences as fodder to support their content marketing strategies.
Internet search engines like Google and Bing rank content such as news articles, video and blog posts based on the originality of content, frequency of new postings, popularity and authority of websites they are typically posted on. (. i.e. an article posted on CNN.com is likely to rank higher in search results than articles posted on a small blog website). Savvy online marketers employed by securities law firms adopt these strategies to generate online coverage, which in turn can generate business leads.
Unfortunately, taking a leaf from ‘ambulance chasers’ of old, some unscrupulous securities lawyers are so desperate for business, they manipulate and abuse the otherwise useful Internet ranking system by posting multi and frequent video adverts and written reports disguised as story-line content marketing.
These articles and videos are made on the back of others misfortune by naming names from the FINRA listings and using the word ‘fraud’ in all their fake news which they publish through multiple websites and video post channels. They ask that you contact them inferring that this person is being investigated and is listed on FINRA for a fraudulent matter. It amounts to an outrageous mischaracterization of all minor administrative infractions that may merit disciplinary action but certainly does not necessarily represent a fraud. These odious and contemptuous lawyers flippantly tar all with the same harsh brush.
The practice is opportunistic at best and malicious at worst. FINRA does its job of listing small administrative and large infractions, but these offending law firms make no distinction.
Using a cookie-cutter approach to gain business these Securities Lawyers don’t care to differentiate between the genuine mistake or human error and the legitimate cases of security fraud that deserve to be prosecuted to the fullest extent of the law. They churn out video adverts and standard online articles, regardless of the truth, causing massive reputation damage. As a consequence of their public naming, a company can be subject to all manner of difficulties resulting in a loss of clients and trouble attracting new ones.
These odious and contemptuous securities law companies, who daily troll the FINRA site for such listings, create video ads naming people and asking anyone with a problem with this person or his company to immediately contact them for a class action suit. The inference is clear! Andrew Stoltmann, Investment Fraud Attorney from Chicago for instance, always uses the word ‘fraud’ in each of his videos, thus implying that everyone he mentions is a fraudster. Surely this is illegal? These video ads, reports and posts appear on their sites and on video channels such as YouTube. They imply the person is being investigated for far more than a mere financial speeding ticket-type infringement. Stoltmann advertises for business in this manner without any concern or consideration or thought about investigating or presenting the truth to suit their agenda.
Where do we draw the line where ethics are involved? Where is the practice related to the moral sense of the Bar? When did ambulance chasing online become acceptable for supposed reputable lawyers?
Be careful you don’t retain a lawyer with this habit – any representation you seek needs to be of a different metal. There are plenty of reputable lawyers and firms who practice law as it was intended to be. They don’t need terror tactics and fear factors in their advertising to gain business – proper lawyers have a good healthy reputation based on their ethical practice of the law and a reverence and implementation of a moral sense of the Bar.