Michael JOSEPH Kelleher is currently employed as a Broker and/or Investment Adviser at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED located at 5143 PALM PASSAGE, CHARLOTTE AMALIE, SAINT THOMAS, VI, 00802.
Michael JOSEPH Kelleher has worked at MERRILL LYNCH, PIERCE, FENNER & SMITH INCORPORATED since April 03, 2009
Disclosure History
Michael JOSEPH Kelleher has 5 Disclosure Event(s).
Date: October 17, 2011 Category: Customer Dispute Allegations: CLAIMANT ALLEGES THAT FA FAILED TO "APPROPRIATELY IDENTIFY AND REPORT TO MANAGEMENT CLAIMANT'S IGNORED DIRECTIONS TO LIQUIDATE ALL HIS HOLDINGS", TIME FRAME: 2008. Damage Amount Requested: $6,000,000.00 Settlement Amount: $790,000.00 Broker Comment: I DENY ANY AND ALL OF THE ALLEGATIONS CLAIMED BY THE CLAIMANT.FURTHERMORE, THIS MATTER WAS SETTLED FOR ONLY 10% OF THE CLAIMED DAMAGE AMOUNT BY THE CLIENT AND THIS SETTLEMENT DOES NOT REFLECT ANY ACKNOWLEDGEMENT OR ADMISSION OF ANY LIABILITY OR MISCONDUCT ON MY PART WHATSOEVER. FURTHERMORE, UBS, WHICH DENIED ALL OF THE CLAIMS ASSERTED BY THE CUSTOMER RESOLVED THIS ISSUE STRICTLY FOR BUSINESS REASONS TO AVOID THE POTENTIAL COST AND UNCERTAINTIES OF THE ARBITRATION FORUM. FINALLY, I DID NOT, NOR WAS I ASKED TO PERSONALLY CONTRIBUTE ANY AMOUNT TOWARDS THE SETTLEMENT OF THIS CASE.
Date: May 14, 1998 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT WHILE I.E. WAS EMPLOYEDBY PAINEWEBBER, THE 1995 PURCHASE OF VIACOM WARRANTS WASUNSUITABLE GIVEN THE CLIENT'S INVESTMENT OBJECTIVES. CLIENTALLEGES APPROXIMATELY $24,000 OVERALL LOSS IN THE ACCOUNT. Damage Amount Requested: $24,000.00 Broker Comment: PAINEWEBBER DENIED THE CLAIM.NOT PROVIDED
Date: January 05, 1995 Category: Customer Dispute Allegations: CLIENT ALLEGES MISREPRESENTATIONS ANDUNSUITABILITY REGARDING LIMITED PARTNERSHIP INVESTMENT OF$38,000 INCLUDING 11/24/87 GEODYNE 2C $20,000 AND 5/26/88 CPA 8$18,000 Settlement Amount: $13,000.00 Broker Comment: PAINEWEBBER AGREED TO PAY THE CLIENT THE SUM OF$13,000 IN EXCHANGE FOR A FULL RELEASE OF ALL CLAIMS.WE BELIEVEF CLIENT WAS SOLICITED BY GOODMAN &NEKVASIL TO ASSERT CLAIM THAT THIS FIRM HAS OBTAINED MANY OFOUR LP LISTS AND HAS SOLICITED PW CLIENTS AROUND THE COUNTRY,THAT NEITHER PAINEWEBBER NOR THE BROKER BELIEVE THAT ANYMISREPRESENTATIONS WERE MADE TO THE CLIENT. THE FIRM MADE THEDECISION TO SETTLE TO AVOID THE VAGARIES OF LITIGATION, MR.KELLEHER WAS NOT ASKED TO CONTRIBUTE.
Date: August 16, 1994 Category: Customer Dispute Allegations: AS REPORTED BY PRIOR FIRM, CUSTOMER SOUGHTREMUNERATION FOR LOSS ON THE ALLEGED SOLICITATION OF ERDBF (AFOREIGN LISTED SECURITY) WHICH TRADED OTC IN THE U.S., PRIOR TOAPPROVAL Settlement Amount: $42,528.32 Broker Comment: ALTHOUGH THE FIRM'S RECORDS REFLECT THAT THETRADE WAS UNSOLICITED. A BUSINESS DECISION WAS MADE TO SETTLETHIS AGED MATTER FOR $42,528.32 AN AVOID THE COSTS ANDUNCERTAINTIES OF LITIGATION.Not Provided
Date: June 07, 1994 Category: Customer Dispute Allegations: CLIENT ALLEGES SUITABLE RECOMMENDATION ANDMISREPRSENTATION REGARDING $40,000 INVESTMENT IN LIMITEDPARTNERSHIPS INCLUDING 7/22/87-GEODYNE 2B- $5,000; 9/26/88GEODYNE 2B-$10,000; 12/31/87-PWIMP A1-$5,000; CPA8-7/6/88-$5,000; PEGASUS-1/25/89-$5,000; GEODYNE2G-$5,000-2/27/89 AND PWILMF- 6/20/89-$5,000. Settlement Amount: $16,000.00 Broker Comment: PAINEWEBBER AGREED TO PAY $16,000 IN EXCHANGEFOR A RELEASE OF ALL CLAIMS.THE [CUSTOMERS] STATED THAT THEIR OBJECTIVE WAS TOPURCHASE AN INVESTMENT VEHICLE PROVIDING LONG TERM INCOME.AFTER A CAREFUL REVIEW WITH CLIENTS, THE INVESTMENTS NAMEDABOVE SEEMED PRUDENT AND CONSERVATIVE. THE [CUSTOMERS] WEREPROVIDED A PROSPECTUS FOR EACH PURCHASE AND FULLY UNDERSTOODALL RELEVANT FACTS INCLUDING THE LIQUIDITY AND TIME FRAME OFTHE INVESTMENTS. THE MULTIPLE PURCHASES WERE MADE AT THECLIENTS' REQUEST. CASE WAS SETTLED TO AVOID THE VAGARIES OFARBITRATION. THESE CUSTOMERS WERE SOLICITED TO BRING THEIRCLAIM AND I DO NOT BELIEVE THEY WOULD HAVE MADE ANY ALLEGATIONSABSENT THE SOLICITATION. FOR FURTHER INFORMATION PLEASE CALL[THIRD PARTY] AT: (201) 902-6669.
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