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CUSTOMER ALLEGES THAT THE FA RECOMMENDED "BUYING AT HOME ON IT'S (SIC) WAY DOWN" AND THAT THE FA'A REASONING HAS BEEN "THROUGH INSIDE INFORMATION HE IS GETTING FROM AN EMPLOYEE AT AT HOME."
Damage Amount Requested
$105,000.00
Settlement Amount
$14,990.00
Broker Comment
THE CLAIM WAS SETTLED WITH NO ADMISSION OF LIABILITY OR WRONGDOING TO AVOID THE TIME AND EXPENSE OF FUTURE LITIGATION.
12/17/2001
Customer Dispute
Settled
Allegations
THIS COMPLAINT WAS AN ORAL COMPLAINT. CUSTOMERS ALLEGED THAT FINANCIAL ADVISOR INVESTED THEM IN AN UNSUITABLE INVESTMENT. NO DAMAGES SPECIFIED.
Settlement Amount
$32,000.00
Broker Comment
IN ORDER TO AVOID THE COSTS AND UNCERTAINTIES OF LITIGATION, MERRILL LYNCH MADE A BUSINESS DECISION TO SETTLE THIS MATTER.
10/7/1998
Customer Dispute
Denied
Allegations
CUSTOMER`S ATTORNEY ALLEGES THAT CUSTOMER`S ACCOUNT WAS UNREASONABLY CONCENTRATED IN A SPECULATIVE STOCK.
THIS ALLEGEDLY OCCURRED AT MERRILL LYNCH. NO SPECIFIC DAMAGES ARE ALLEGED.
ARE ALLEGED.
Broker Comment
RESPONDED NO MERIT. CUSTOMER IS AN EXPERIENCED INVESTOR AND PRESIDENT AND CEO OF HIS OWN COMPANY. AS CUSTOMER HAS A SUBSTANTIAL NET WORTH AND AGRESSIVE RISK TOLERANCE, CUSTOMER`S HOLDING OF THE STOCK IN QUESTION WAS RELATIVELY SMALL. CUSTOMER PURCHASED THE STOCK IN QUESTION FOUR TIMES, EVIDENCING HIS ENTHUSIASM FOR THE STOCK AT THE TIME. WE BELIEVE CUSTOMER`S COMPLAINT AT THIS TIME TO BE SOLELY PERFORMANCE DRIVEN.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.
Disclosures can be customer complaints or arbitrations, regulatory actions, employment terminations, bankruptcy filings and certain civil or criminal proceedings that they were a part of.