FINRA Lawsuit against Merrill Lynch Alleges High Risk Trading Strategy
The White Law Group announces the filing of a FINRA Arbitration claim submitted on behalf of a Vero Beach, Florida resident, alleging violation of common law fraud, breach of fiduciary duty, negligence, and negligent supervision.
The claim alleges that Merrill Lynch unsuitably invested its client in a high-risk trading strategy. The FINRA claim seeks damages in an amount between $500,000 and $750,000.
It is further alleged that the financial advisor that was involved with the accounts at issue is William Worthen King (Bill King). The claim alleges that King and Merrill Lynch failed to perform the necessary due diligence on these investments prior to recommending them to this investor.
According to his FINRA BrokerCheck Report, King has been the subject of at least twenty-one (21) customer disputes dealing with similar misconduct. Merrill Lynch purportedly terminated King’s employment in April 2023 as an apparent consequence of allegations of unsuitable and unauthorized trading.
Before recommending an investment, a broker-dealer has a fiduciary duty to adequately disclose the risks involved in the investment and to perform the necessary due diligence to determine whether the investment is suitable for the investor.
FINRA Dispute Resolution is an arbitration venue for investors with claims against their brokerage firm or financial professional. ?It provides investors with an opportunity to attempt to recoup their investment losses without filing such claims in court.
FINRA Arbitration Attorneys
The White Law Group, LLC is a national securities fraud, securities arbitration, investor protection, and securities regulation/compliance law firm dedicated to helping investors in claims in all 50 states against their financial professional or brokerage firm. Since the firm launched in 2010, it has handled over 700 FINRA arbitration cases.
Our firm represents investors in all types of securities related claims, including claims involving stock fraud, broker misrepresentation, churning, unsuitable investments, selling away, and unauthorized trading, among many others. With over 30 years of securities law experience, The White Law Group can help you recover your investment losses.
With offices in Seattle, Washington and Chicago, Illinois, the firm reviews securities fraud cases throughout the country.
For more information on The White Law Group and the lawsuit filed against Merrill Lynch, please contact the firm at 1-888-637-5510 or visit?https://whitesecuritieslaw.com.
Last modified: July 28, 2023