Date: August 21, 2007 Category: Customer Dispute Allegations: CLIENT ALLEGES THAT FINANCIAL ADVISOR MADE UNSUITABLE RECOMMENDATIONS. NOT SPECIFIED WHEN ACTIVITIES LEADING TO ALLEGATIONS OCCURED. Broker Comment: CLAIM DENIED AND DEEMED TO BE WITHOUT MERIT.
Date: April 11, 2005 Category: Customer Dispute Allegations: CUSTOMER ALLEGES FA MADE UNSUITABLE INVESTMENTS. Damage Amount Requested: $400,000.00 Broker Comment: UPON INVESTIGATION THE COMPLAINT WAS FOUND TO BE WITHOUT MERIT AND WAS DENIED.
Date: May 16, 2003 Category: Customer Dispute Allegations: CLAIMANTS ALLEGE UNSUITABILITY WITH RESPECT TO THE ALLOCATION OF ASSETS IN THEIR ACCOUNTS. Damage Amount Requested: $121,000.00 Settlement Amount: $45,000.00
Date: February 16, 2003 Category: Customer Dispute Allegations: CUSTOMER'S ATTORNEY ALLEGES THAT FINANCIAL ADVISOR MADE UNSUITABLE INVESTMENTS AND WAS NEGLIGENT INTHE HANDLING OF CUSTOMER'S ACCOUNTS. Damage Amount Requested: $153,501.84
Date: October 25, 2002 Category: Customer Dispute Allegations: CUSTOMER ALLEGES HER FINANCIAL ADVISOR MADE UNSUITABLE AND UNAUTHORIZED TRADES IN HER ACCOUNT. NO SPECIFIC DAMAGES ALLEGED. Settlement Amount: $18,831.35
Date: October 14, 2002 Category: Customer Dispute Allegations: CUSTOMER CLAIMS THAT HIS INSTRUCTIONS TO MR. PENZONE TO ENTER STOP LOSS ORDERS WERE NOT FOLLOWED. Damage Amount Requested: $58,000.00 Broker Comment: CUSTOMER'S CLAIMS WERE DENIED IN THEIR ENTIRETY. THE FIRST TIME MR. PENZONE WAS GIVEN STOP LOSS INSTRUCTIONS WAS IN APRIL 2002. THIS WAS AROUND THE TIME OF MR. WHITE'S ORAL COMPLAINT.
Date: June 19, 2002 Category: Customer Dispute Allegations: CUSTOMER ALLEGES UNSUITABLE TRADES. Damage Amount Requested: $64,589.49 Settlement Amount: $36,000.00 Broker Comment: THIS CASE WAS SETTLED TO AVOID THE TIME, EXPENSE AND UNCERTAINTY OF LITIGATION.
Date: February 28, 2002 Category: Customer Dispute Allegations: CLIENT ALLEGES FRAUD, NEGLIGENCE AND BREACH OF CONTRACT Damage Amount Requested: $400,000.00 Settlement Amount: $225,000.00 Broker Comment: SETTLED AT MEDIATION FOR A PORTION OF THE CLIENT'S LOSSES TO AVOID THE COST AND UNCERTAINTY OF PROTRACTED LITIGATION.
Date: December 14, 1992 Category: Customer Dispute Allegations: THAT I HAD FAILED TO ROLL OVER INTO AN IRA APAYMENT OF $150,000 WHICH THE CUSTOMER RECEIVED FROM HER FORMERHUSBAND'S PENSION AND PROFIT SHARING PLAN IN DECEMBER, 1990PURSUANT TO A QUALIFIED DOMESTIC RELATIONS OORDER Settlement Amount: $84,339.00 Broker Comment: MERRILL LYNCH PAID THE CUSTOMER A TOTAL OF$84,339 TO REIMBURSE HER FOR FEDERAL AND STATE INCOME TAXES,PENALTIES AND INTEREST, AS WELL AS PROFESSIONAL FEES INCURREDBECAUSE THE FUNDS WERE NOT ROLLED OVER INTO A IRA. MERRILLLYNCH ALSO AGREED TO INDEMNIFY THE CUSTOMER AGAINST CERTAINOTHER CLAIMS FOR TAXES, PENALTIES AND INTEREST THAT MAY ARISEIN THE FUTURE.SEE ABOVE. IN ADDITION, I SIGNED A NOTE AGREEINGTOD REIMBURSE MERRILL LYNCH, OVER THE NEXT STHREE YEARS, FORTHE AMOUNT IT PAID IN SETTLEING WITH THE CUSTOMER. IF I REMAINAN EMPLOYEE OF MERRILL LYNCH, THE WILL FORGIVE ONE-HALF OF THEAMOUNT.
Date: December 30, 1983 Category: Customer Dispute Allegations: [CUSTOMER], AN ATTORNEY SUEING ON HIS OWN BEHALF,ALLEGED $100,000 COMPENSATORY DAMAGES AND $250,000 PUNITIVEDAMAGES AS A RESULT OF ALLEGED MISREPRESENTATIONS HE CLAIMSINDUCED HIM TO OPEN AN ACCOUNT. ACTUAL LOSSES WERE LESS THAN $25,000 Damage Amount Requested: $100,000.00 Settlement Amount: $15,000.00 Broker Comment: MERRILL LYNCH AND PENZONE SETTLED THE MATTER FOR$15,000 WITHOUT ADMITTING ANY LIABILITY OR WRONGFUL CONDUCT
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