INVESTMENT LOSSES WITH FINANCIAL ADVISOR WILLIAM (BILL) KING AT MERRILL LYNCH? CONTACT KLAYMANTOSKES
VERO BEACH, FL, USA, March 14, 2024 /EINPresswire.com/ — National investment loss and securities lawyers KlaymanToskes continues its investigation into financial advisor Bill King, after his alleged unauthorized trading, misrepresentations and unsuitable investment recommendations caused an investor up to $4,000,000 in losses. The law firm urges all current and former customers who suffered investment losses with William (Bill) King at Merrill Lynch to contact the firm immediately at 888-997-9956.
KlaymanToskes recently reported that the firm has filed a FINRA arbitration claim (no. 23-02047) against Merrill Lynch on the behalf of a customer of William (Bill) Worthen King, who is seeking to recover damages up to $4,000,000, in connection with King’s unauthorized and aggressive strategy of selling put options, and unsuitable recommendations to invest in Nuveen Funds.
According to the claim, while the customer had never traded options prior to Merrill Lynch and did not want to speculate with his retirement savings, King falsely stated that the customer had 20 years of experience in options and desired “Speculation” as an investment objective. Bill King also made material misrepresentations to the customer in soliciting the purchase of the Nuveen Quality Municipal Fund (NYSE:NAD) and the Nuveen Municipal Credit Fund (NYSE:NZF).
In April of 2023, King was permitted to resign from Merrill Lynch’s King-Conley Group after receiving numerous customer complaints alleging similar misconduct to that raised by the customer, including unauthorized trading, the selling of put options, unsuitable recommendations, and material misrepresentations. According to FINRA BrokerCheck, King has been hit with a total of 28 customer complaints.
Financial advisors and their firms are responsible for providing suitable investment advice and must act in the best interest of their customers. Investment firms may be held liable for any losses incurred by their customers in the event of unsuitable investment recommendations, misrepresentations or omissions of material facts, and/or an overconcentration of the customer’s portfolio in one particular investment, class, or market sector. Further, financial professionals and their firms cannot disregard a customer’s risk-tolerance when making investment recommendations.
Current and former customers of Bill King and/or any other financial advisor who suffered investment losses at Merrill Lynch are encouraged to contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or by email at lawrence@klaymantoskes.com in furtherance of our investigation.
About KlaymanToskes
KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation 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.
Contact
Lawrence L. Klayman, Esq.
KlaymanToskes, P.A.
+1 888-997-9956
lawrence@klaymantoskes.com