Securities fraud attorneys specialize in representing individuals and/or business entities when they are charged with violations of state and/or federal securities laws. One common type of securities fraud includes insider trading, which occurs when a person or company uses non-public information in order to manipulate the stock market for personal financial gain. Another common securities fraud situation involves corporate or shareholder fraud. This sort of securities law violation happens when the directors and/or corporate officials of a company misrepresent the company's assets, profits and/or net worth in an attempt to mislead investors. Corporate fraud can result in major losses not only to routine investors and shareholders, but also to employees of the company who have invested in the company through 401(k) plans and employee shareholder programs. Yet another common type of securities fraud occurs when a stockbroker or financial advisor commits investment or brokerage fraud, by intentionally giving investors biased, conflicting, or imprudent advice regarding investments.