HEMPSTEAD, N.Y. — As a direct result of the economic collapse, Hofstra Law School’s seven clinics expect a tide of cases in the coming months, as the effects of the crisis rumble through New York communities.
“Our clients are newly worried over the ability of the brokerage firms, against whom they have claims, to survive,” said Curtis Pew, Associate Clinical Professor and Attorney-in-Charge of the Securities Arbitration Clinic, a resource for clients who lost money on investments due to mishandling by brokers.
As attorney-in-charge, Pew supervises law students in representing securities investors, subject to certain income, residency and size-of-claim restrictions, who pursue claims arising from retail securities investments. The claims are pursued in either arbitration or mediation before the Financial Industry Regulatory Authority.
“We expect that as a result of the recent tumult, there will be an increase in cases in about three to six months. The financial problem I expect to be most confronted with will be investments made for retirements and now the inability to have enough income,” Pew said.
A pioneer in clinical programs, Hofstra Law School is home to clinics for Child Advocacy, Community and Economic Development, Criminal Justice, Law Reform Advocacy, Mediation, Political Asylum and Securities Arbitration.
Assistant Clinical Professor of Law Lisa Hershman says she expects the other clinics to be affected as well. “If people lose their jobs and their health insurance, they will turn to the government to provide services that they might have been able to provide for themselves previously. Historically, the juvenile justice system and the courts in general, are often used as gateways to services,” she said.
Hershman holds a bachelor’s degree from University of Pennsylvania as well as a Master of Social Work and a Juris Doctor from New York University.
Pew holds a bachelor’s degree from Tulane University, a Master of Public Policy Administration from University of Wisconsin and a Juris Doctor from The George Washington University.
