A Florida securities attorney settles the majority of cases through arbitration for many reasons. While similar to a court hearing, arbitration is more fluid in structure, allows more evidence to be presented, and allows more dialogue between parties in order to come to an agreeable decision that satisfies all individuals involved. Securities attorneys settle many cases in this manner because the litigation involved with such cases can oftentimes be complicated, time consuming, and expensive. It is usually easier and, more importantly, cheaper to come together outside the court of law and decide on a compromise. This process is utilized so that it can be confined to the offices of an arbiter. While certain requirements make the process semi-public, it is much easier to keep embarrassing disclosures and confidential numbers private.
The primary reason that arbitration is so common to securities law is that this particular field of law can be very complicated with lots of figures and numbers, deal with several individual entities, and span numerous state, local, and federal laws. It is, therefore, more expedient to dispatch all of that complicated nonsense and come to resolution between concerned parties outside the court of law. Because the parties do away with a number of the more entangling legal aspects of the field, they can quickly negotiate a settlement thereby saving all of those involved time and money.
Additionally, a Florida securities attorney might chose to enter into arbitration to make sure the process is more fluid. While the rules of evidence that guide a court room still technically apply to out of court discussions, this process allows for a bending of those laws. For example hearsay – a form of communication in which information is related to the court through a third party - is not allowed during court proceedings. However, this particular example is often allowed in arbitration proceedings. This means that information can be deal with on a much more liberal level, thereby allowing a conclusion to be reached much more quickly than a lawsuit would.
Finally, arbitration is a common manner to reach a decision because it is much more private and an open court lawsuit. Guaranteed in the Constitution is the right to a speedy and public trial. For many individuals involved in securities lawsuits, it is the ‘public’ part of that guarantee that worries them. They would much rather keep their financial numbers, dealings, and settlements as private as possible. They, therefore, choose to enter into discussions outside of the purview of the judge and all the attached documentation. It is important to note, however, that, by law, decisions made through arbitration have to be presented to the public. This information though is not widely recognized in public circles.
In the end, arbitration is a conflict resolution process in which participating parties agree to come together outside the purview of a judge or jury and present their cases to a an arbiter or group of arbiters. This decision is legally binding and permanent – very few courts ever review or overturn arbitration. A Florida securities attorney deals with this methodology more often than not because it is a quicker process, more private, and less complicated a lawsuit.
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