New York, NY securities attorney Jenice L. Malecki talks about the necessary evidence to prove that a security or investment is defective. She notes that in defective securities cases, while communications with the broker are relevant, the internal communications within the broker-dealer are even more critical. Surprisingly, emails and correspondence from the risk, structuring, and investment banking departments can be pivotal. These internal communications, which are typically not available in standard securities cases, shed light on the creation and structuring of the product. Unlike conventional securities cases involving established companies listed on stock exchanges—where financial records can be reviewed—these cases often involve new companies with limited track records, meaning investors are placing their funds more in an idea or strategy than in a tangible company.