|
|
Merrill Lynch Fined $750,000 For Activities of Massachusetts Broker Richard Greene
Merrill agreed to pay the fine for alleged customer abuses that triggered losses of $30 million from about 400 clients.
The losses are attributable to Mr. Greene’s putting investors in little known stocks that later plunged in value, such as Genesis Health Ventures, Inc., Eldertrust, Inc., Indymac Mortgage Holdings, Inc., and Orbital Sciences, Corp.
Importantly, investors suffering losses may be able to recover. Mediation (at Merrill’s cost) will be available for investors who have lost more than $25,000 and had more than 50% of their money in those four stocks. Otherwise, investors may pursue arbitration remedies.
Source: Wall Street Journal, May 16, 2000
|
About Us
|
News
|
Alerts
|
Articles
|
Caveat Emptor
|
SNSFE News
|
Contact
|
Search
Register
|
Free Opinion
Sponsored by James J. Eccleston, an attorney representing stockbrokers, financial planners and
investors nationwide in arbitration, litigation and regulatory matters, and a shareholder with the law firm
Shaheen, Novoselsky, Staat, Filipowski & Eccleston
P.C.(www.snsfe-law.com). This Web site contains material
of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment advisor when building and protecting your wealth.
All content Copyright © 2008 Advocate Capital Management, Inc. except where noted. All rights reserved.
20 North Wacker Drive, Suite 2900, Chicago, Illinois 60606
Telephone: 312-621-4400 | Fax: 312-621-0268
|
|
|
|
