Investor Alert: Klayman & Toskes, P.A. Launches Investigation into Merrill Lynch's Sale of Strategic Return Notes in Wake of ...
June 22 2016 - 02:12PM
Business Wire
The Securities Arbitration Law Firm of Klayman & Toskes,
P.A. (“K&T”), www.nasd-law.com, announced today that it has
launched an investigation into Merrill Lynch (NYSE: BAC) sales of
strategic return notes in wake of the SEC’s probe.
K&T’s investigation has commenced as a result of the SEC’s
preparation of a civil enforcement case against Merrill Lynch,
stemming from structured note investments purchased by clients that
declined up to 95% in value. Two former Merrill Lynch financial
advisers filed a whistleblower complaint in connection with the
investments, one of which stated that the structured notes were
marketed to the public in a way that was “borderline crooked.”
According to securities attorney Lawrence L. Klayman, “Investors
may not have understood the risks associated with these structured
notes and Merrill Lynch is responsible for disclosing these risks
to its customers before making any recommendations to purchase
them.”
Merrill Lynch underwrites, manages and markets billions of
dollars in structured notes to its customers, including the
strategic return notes that are the subject of the SEC’s probe. SEC
official Amy Starr commented on structured note investments during
a speech last year, “how many brokers and advisers who sell these
products to retail investors actually understand what they are
selling.”
The sole purpose of this release is to investigate Merrill
Lynch’s conduct with respect to unsuitable recommendations,
misrepresentations and omissions, and failure to supervise. Current
and former customers of Merrill Lynch who purchased strategic
return notes that have information relating to the manner in which
the firm represented these products, are encouraged to contact
Lawrence Klayman, Esq. or Raymond Gentile, Esq. of Klayman &
Toskes at (888) 997-9956, or visit our website at
www.nasd-law.com.
About Klayman & Toskes, P.A.
K&T is a leading national securities law firm which
practices exclusively in the field of securities arbitration and
litigation, on behalf of retail and institutional investors
throughout the world in large and complex securities matters. The
firm represents high net-worth, ultra-high-net-worth, and
institutional investors, such as non-profit organizations, unions,
public and multi-employer pension funds. K&T has office
locations in California, Florida, New York and Puerto Rico.
Destination:
http://nasd-law.com/notice-to-merrill-lynch-customers-who-invested-in-strategic-return-notes-investigation-launched-in-wake-of-sec-probe/
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version on businesswire.com: http://www.businesswire.com/news/home/20160622006288/en/
Klayman & Toskes, P.A.Lawrence Klayman, Esq. or Raymond
Gentile, Esq., 888-997-9956www.nasd-law.com
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