Merrill Lynch to Pay $500,000 Penalty Due to Acts of Broker John David
Merrill Lynch has agreed to pay New Hampshire regulators $500,000 to settle allegations that its broker, John David, used high pressure sales tactics to sell speculative stocks that, in some cases, rapidly fell in value.
As part of the settlement, customers of John David may file an arbitration claim to recover their losses. Investors found to have been wronged will receive their money back plus 10% interest.
Source: Wall Street Journal, July 19, 2002
|
Sponsored by James J. Eccleston. 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 adviser when building and protecting your wealth.
All content Copyright © 2010 Advocate Compliance Partners, Inc. except where noted. All rights reserved.
One North Franklin Street, Suite 2620, Chicago, IL 60606
Telephone 312-332-0000 | Fax 312-332-0003
|
|
