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Dow Jones Business News
A National Association of Securities Dealers arbitration panel ordered the nation’s largest brokerage firm, Merrill Lynch & Co., to pay one of its investors $331,004 for breaching its fiduciary duty and not supervising one of its representatives. In a press release Thursday, the law firm representing the investor said the award represents a full return […]
Reuters
Merrill Lynch & Co. (NYSE:MER – News), the biggest U.S. brokerage, will pay $331,000 to a former client in Los Angeles to settle claims that a broker mishandled his investments, according to a NASD arbitration document. Gene Hines, a writer-producer, filed a claim against Merrill on Nov. 26, 2001, which accused the firm of breach […]
Newsweek
Just in case you weren’t steamed enough about the losses in your stock portfolio, securities regulators served up a fresh helping of outrage last week. In announcing their record settlement with 10 Wall Street firms accused of misleading investors with bogus recommendations, they also released new e-mail records showing stock experts chortling about how they […]
Forbes
NEW YORK – Lawyers for jilted Wall Street investors have been anxiously waiting months for regulators to finalize their stock research settlement. Now that they have, and the supporting documents are public, plaintiff attorneys say it offers little help in pressing claims against allegedly crooked brokers, analysts and securities firms. Among the omissions: any mention […]
Business Week
Arbitration battles to recover losses will be tough, but fresh ammo from regulators may help When Harold and Reather Weathers, a retired couple living in the Atlanta suburbs, sold some inherited property for more than $600,000 in 1999, they hoped the proceeds would carry them through their golden years. The couple, then in their late […]