JOSEPH JOHN VALDRINI is currently employed as a Broker and/or Investment Adviser at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED located at 1201 MARKET ST, WILMINGTON, DE, 19801.
JOSEPH JOHN VALDRINI has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since June 21, 1979
Disclosure History
JOSEPH JOHN VALDRINI has 1 Disclosure Event(s).
Date: September 23, 1999 Category: Customer Dispute Allegations: CUSTOMERS ALLEGE UNSUITBAILITY REGARDING THE WRITING OF CALLS FOR AMAZON.COM. CUSTOMERS CLAIMED DAMAGES IN EXCESS OF $230,000.00. CUSTOMERS WERE FULLY FAMILIAR WITH OPTIONS AND HAD BEEN APPROVED FOR NAKED OPTIONS. CUSTOMERS HOWEVER, WERE UNPREPRARED FOR THE VIOLATILITY OF AMAZON.COM. CUSTOMERS REFUSED TO TAKE LOSS IN OPTIONS AND POSITION EXERCISED INTO SHORT EQUITY POSITION. CUSOTMER REFUSED TO CLOSE SHORT POSITION WHICH RESULTED IN EVEN LARGER LOSS. MATTER SETTLED TO AVOID COST AND UNCERTAINTY OF LITIGATION. Damage Amount Requested: $230,000.00 Settlement Amount: $133,000.00
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