Investor Rights Blog

The Law Firm of David Chase is investigating the circumstances surrounding the suspension and subsequent termination of Aurora, Indiana-based broker Daniel Doogs by Ameriprise Financial, which allegedly involved a violation by Doogs of Ameriprise’s policy relating to borrowing from, and lending money to, customers. Ameriprise Financial, on the Form U-5 of Doogs, stated the following as to the basis for his suspension and ultimate termination: “The registered representative was suspended on May 5, 2017 and...Read More

The Law Firm of David Chase is reviewing multiple customer allegations of stock broker misconduct, including unsuitable investments and excessive trading, made against Las Cruces, New Mexico-based Wells Fargo broker Jeffery Wilson. In one arbitration case, a FINRA arbitration panel awarded damages of $357,000 in favor of Wilson’s customer on allegations of unsuitable investments. In another customer complaint alleging excessive trading and unsuitability, Wells Fargo settled for $275,000. Wilson is currently employed by Wells Fargo...Read More

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...Read More

The Law Firm of David Chase, headed by stock broker fraud lawyer David Chase, is reviewing a customer’s allegation made against Boston, MA-based Janney Montgomery broker Richard A. Baum concerning the recommendation of an unsuitable, overconcentration of energy securities. Filed in August of 2017, the customer complaint asserts that the improper overconcentration took place over a time period spanning from 2006 – 2014. Baum has been employed by Janney Montgomery Scott at its Boston, MA...Read More

The Law Firm of David Chase is reviewing a customer’s allegations of unsuitability and misrepresentations of material facts made in 2016 against former Frederick, Maryland-based Merrill Lynch broker James Merkel. The complaint, which clams $1 million in damages, is currently pending. In August 2017, Merrill Lynch discharged James Merkel for conduct involving selling away. Selling away is when a stock broker sells an investment to his customers without the knowledge and consent of his employing...Read More

The Law Firm of David Chase is reviewing multiple customer allegations of misrepresentation, unsuitable recommendations, excessive trading and over concentration made against Coral Gables, Florida-based Morgan Stanley broker David Garcia Cirilo. According to FINRA’s BrokerCheck Report, there are several customer complaints that have been made against David Garcia Cirilo in the last few years, which involve allegations of misconduct, including unsuitability, misrepresentation, breach of contract and overconcentration. Morgan Stanley has paid substantial settlements to resolve...Read More

Stock Broker Fraud Attorney David Chase from David R. Chase, P.A. is reviewing allegations of improper discretionary trading against former Los Angeles, CA-based Morgan Stanley broker Joel D. Davidman following a FINRA enforcement action against him that alleged such misconduct. According to FINRA’s BrokerCheck report, Morgan Stanley terminated Davidman as a result of allegations concerning his improper exercise of discretion in client accounts. Davidman was employed by Morgan Stanley at its Beverly Hills, CA location...Read More