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UNSUITABLE RECOMMENDATION OF A MUTUAL FUND
THAT IN MEXICO, UNTRUE AND UNCLEAR STATEMENTS OF RISK IN THE
PROSPECTUS. DAMAGES UNSTATED.
Settlement Amount
$33,089.00
Broker Comment
PAYMENT BY MERRILL LYNCH TO CUSTOMERS OF
$33,089.
THIS CASE WAS ORIGINALLY FILED AS A CLASS ACTION.
MERRILL LYNCH SETTLED WITH THE INDIVIDUAL CUSTOMERS TO AVOID
THE MASSIVE COSTS INVOLVED IN DEFENDING A CLASS ACTION. THE
UNDERLYING CLAIM FOR THESE CLIENTS DID NOT HAVE MERIT CLIENTS
HAD AN AGENT WITH POWER OF ATTORNEY WHO WAS EXPERIENCED IN
GLOBAL INVESTING AND CURRENCY MATTERS THE PROSPECTUS CLEARLY
SET FORTH RISKS. LOSS WAS CAUSED BY RECENT SURPRISE DEVALUATION
OF MEXICO PESO.
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.