National investment loss lawyers KlaymanToskes is investigating Michael McKnight (CRD# 7161229) of MML Investors Services, following the filing of a customer complaint that alleged $30,000 in damages due to the unauthorized sale of stocks in the customer’s account, and the purchase of a new investment model.
Investors that suffered losses with Michael McKnight may be entitled to a financial recovery. Contact attorney Lawrence L. Klayman, Esq., for a free consultation to discuss recovery options at 888-997-9956 or lawrence@klaymantoskes.com. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
According to FINRA BrokerCheck, Michael McKnight is currently registered as a broker and investment advisor with MML Investors Services in Newtown Square, PA. Michael McKnight has one customer complaint disclosed. The complaint alleged that McKnight sold the customer’s existing stocks without authorization and purchased a new investment model. The investor further alleged $30,000 in damages.
The complaint was denied by the firm, however, investors should be aware that the denial of a customer complaint by a brokerage firm does not mean that their complaint does not have merit. It is in a brokerage firm’s best interest to deter customers from filing complaints with the Financial Industry Regulatory Authority (“FINRA”). Investors may still pursue a FINRA arbitration claim to recover their investment losses by contacting KlaymanToskes.
Unauthorized trading is a securities violation which occurs when a broker/financial advisor buys or sells a security or securities in a non-discretionary customer account, without prior customer authorization. This represents a sales practice violation and includes a broker/advisor’s misuse of “discretionary” authorization to make transactions on the behalf of their customer.
KlaymanToskes believes a FINRA arbitration claim is generally the best solution for investors that have sustained realized or unrealized losses at the hands of their full-service brokerage firms. FINRA arbitration is usually the most cost-effective process for investors seeking to recover investment losses, and occurs with the added benefit of increased efficiency over a court proceeding.
KlaymanToskes can help you determine if you should bring a FINRA arbitration claim against your brokerage firm and/or financial advisor. Contact attorney Lawrence L. Klayman, Esq., at (888) 997-9956 or lawrence@klaymantoskes.com for a free consultation. Our firm offers legal services on a contingency fee basis, meaning we do not collect attorney’s fees unless we are able to obtain a financial recovery for you..
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $250 million in FINRA arbitrations and over $350 million in other securities litigation matters. KlaymanToskes has office locations in California, Florida, New York, and Puerto Rico.
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lawrence@klaymantoskes.com
www.klaymantoskes.com