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ALLEGED UNAUTHORIZED SALE OF ML FED SEC TRUST
IN SEPTEMBER 1986 INSOFAR AS THE TIMING OF THE SALE PRECLUDED
RECEIPT OF A DIVIDEND OF APPROX. $1,500. ALSO, CUSTOMERS ALLEGE
UNSUITABILITY IN THE PURCHASE OF TWO LIMITED PARTNERSHIPS.
CUSTOMERS SEEK APPROX. $144,000 IN ACTUAL DAMAGES.
Damage Amount Requested
$144,000.00
Settlement Amount
$83,447.64
Broker Comment
LIMITED PARTNERSHIPS SOLD. CUSTOMERS' ACCOUNT
WAS ADDITIONALLY CREDITED WITH $83,447.64.
SALE OF ML FED SEC TRUST WAS AUTHORIZED AND
CUSTOMERS RECEIVED THE DIVIDEND. ALL CLAIMS OF UNSUITABILITY
ARE DENIED. CASE SETTLED TO AVOID THE EXPENSES AND
UNCERTAINTIES OF LITIGATION.
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.
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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.