The Law Firm of David Chase, headed by stock broker fraud lawyer David Chase, is reviewing a customer’s allegations leveled against Dallas, Texas-based Merrill Lynch broker Matthew Ashley. The customer complaint, filed in May 2017, alleges misconduct involving: misrepresentation, unsuitable recommendations, misappropriation of funds and excessive trading, and seeks $5 million in damages. The complaint is pending.
Excessive trading, commonly referred to as churning, takes place where a stock broker controls the customer’s account and engages in securities trading for the purpose of generating commissions to enrich himself at the direct expense of the customer.
Misrepresentation involves the stock broker making materially false statements and/or omissions to a customer in connection with the purchase or sale of a security.
Stock brokers and financial advisors are required to recommend only suitable investments to their customers. This requires that the stock broker investigate the investment’s attributes, including its benefits, risks, tax consequences and other relevant factors, in order to form a reasonable basis for the recommendation. The broker must then appropriately match the investment with the customer’s coded investment profile: which includes risk tolerance, investment objectives, income needs, age and other relevant factors.
FINRA arbitration is a fast, efficient way to recover your lost investment funds due to stock broker misconduct, including excessive trading, unsuitable investment recommendations, selling away and unauthorized trading. SEC attorney David Chase works on a contingency fee basis, meaning you pay it nothing unless it recovers money for you.
If you invested with Matthew Ashley and Merrill Lynch and have lost money doing so, you may be able to recover some or all of your losses. David Chase is an experienced securities lawyer, and for years has represented investors in cases to recover their losses due to stock broker misconduct.
The Law Firm of David Chase represents stock brokerage customers and investors around the country, fighting to recover their investment losses. If you have questions about your ability to recover your investment losses due to stock broker misconduct, please contact David Chase, a stock broker fraud lawyer, for a free consultation at email@example.com or toll-free at (800) 760-0912.