ELLIS LUKEN is currently employed as a Broker and/or Investment Adviser at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED located at 300 CONSHOHOCKEN STATE RD, 300 FOUR FALLS CORP CTR, WEST CONSHOHOCKEN, PA, 19428.
ELLIS LUKEN has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since April 24, 2009
ELLIS LUKEN has 3 Disclosure Event(s).
Date: March 06, 2018 Category: Customer Dispute Allegations: The customer alleges unsuitable investment recommendations from 2008 until 2017. Damage Amount Requested: $250,000.00
Date: February 13, 2009 Category: Customer Dispute Allegations: CLIENT ALLEGES INVESTMENTS WERE NOT CONSISTENT WITH HER RISK TOLERANCE AND THAT FA MISREPRESENTED THE SAFETY OF THE INVESTMENTS - 5/2008. DAMAGES UNSPECIFIED. Settlement Amount: $15,000.00
Date: March 30, 1981 Category: Customer Dispute Settlement Amount: $100,000.00 Broker Comment: CIVIL ACTION NO. 81-1224, 3/30/81, U.S. DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA, [CUSTOMER'S] VS. ELLIS LUKEN AND ELKINS & CO. THE COMPLAINT ALLEGES LUKEN MAY HAVE CAUSED UNSUITABLE TRANSACTIONS TO BE EXECUTED IN THE [CUSTOMER'] ACCOUNT AND TO HAVE CAUSED EXCESSIVE TRANSACTIONS TO BE EXECUTED IN THEIR ACCOUNT, BOTH IN SIZE AND FREQUENCY, IN VIEW OF THEIR REPORTED AGES, INVESTMENT GOALS, FINANCIAL RESOURCES AND THEIR REPORTED SECURITIES EXPERIENCES. THE NEW YORK STOCK EXCHANGE HAS INVESTIGATED THE MATTER IN THE ABOVE COMPLAINT AND HAS ADVISED LUKEN OF HIS RIGHTS TO CONSULT WITH AND BE REPRESENTED BY LEGAL COUNSEL UNDER EXCHANGE RULE 476(H). IN MARCH, 1981, [CUSTOMER'S] COMMENCED AN ACTION AGAINST ELKINS AND LUKIN IN THE UNITED STATES DISTRICT COURT FOR THE EASTERN DISTRICT OF PENNSYLVANIA, WHICH ACTION WAS ENCAPTIONED: [CUSTOMER] V. ELLIS LUKEN, ET AL. AND DOCKETED AS CIVIL ACTION NO. #81-1224. THE COMPLAINT IN THE ACTION CHARGED THAT, BY REASON OF VARIOUS WRONGFUL CONDUCT OF LUKEN AND ELKINS, WHICH CONDUCT WAS CLAIMED TO CONSTITUTEVIOLATIONS OF THE FEDERAL SECURITIES LAW AND THE COMMON LAW, THE [CUSTOMERS] SUSTAINED LOSSES IN AN AMOUNT IN EXCESS OF TWO HUNDRED TWENTY-FIVE THOUSAND DOLLARS ($225,000.00). THE COMPLAINT SOUGHT RECOVERY IN THAT AMOUNT, PLUS VARIOUS ADDITIONAL DAMAGES AND PUNITIVE DAMAGES. ELKINS AND LUKUN IN THEIR ANSWER, DENIED THE ALLEGATIONS OF THE COMPLAINT. ELKINS FILED A COUNTERCLAIM IN THE ACTION, MAKING CLAIM FOR VARIOUS AMOUNTS WHICH IT ALLEGED WERE OWED BY THE [CUSTOMERS] TO IT. THE [CUSTOMER'S] HAVE DENIED THAT THEY OWE THE DEBIT BALANCES CLAIMED BY ELKINS. ELKINS AND LUKEN, ALTHOUGH DENYING LIABILITY, HAVE CONCLUDED THAT IT WOULD BE IN THEIR BEST INTERESTS TO SETTLE *SEE FAQ #1*
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