JACKSONVILLE, FL / ACCESSWIRE / August 17, 2023 / National investment loss attorneys KlaymanToskes encourages customers of Merrill Lynch who suffered losses due to high-risk positions in BlackRock Innovation and Growth (NYSE:BIGZ) to contact the firm immediately at 888-997-9956.
KlaymanToskes reports the firm has filed a FINRA arbitration claim (no. 23-02235) seeking to recover damages over $100,000 against Merrill Lynch, on the behalf of a group of investors whose portfolios were overconcentrated in high-risk alternative investments, including BlackRock Innovation and Growth (NYSE:BIGZ) and the Neuberger Berman Next Generation Connectivity Fund Inc. (NYSE:NBXG).
While the investors were only interested in safe, income-producing investments that would avoid taking risks with their retirement savings, Merrill Lynch and its broker, Fred Moss (CRD# 1143601), continually misrepresented and failed to disclose the investments’ risks to the customers.
Merrill Lynch and Fred Moss represented to the customers that the investments would provide a safe source of steady income in addition to yielding a good dividend. While making the recommendation that the customers invest in BlackRock Innovation and Growth (“BIGZ”), Moss discussed Blackrock’s good track record and showed them other Blackrock funds that increased in value.
Further, even after the investments initially declined, Moss represented that the investments were still high quality and advised the customers not to sell. As a result of entrusting their broker and brokerage firm with providing suitable investment recommendations, the customers lost the majority of their principal investments.
Investors who suffered losses due to unsuitable investment recommendations at Merrill Lynch and/or any other brokerage firm, should contact attorney Lawrence L. Klayman, Esq. at (888) 997-9956 or lawrence@klaymantoskes.com for a free and confidential consultation to discuss legal options. We do not collect attorney’s fees unless we are able to obtain a financial recovery for you.
About KlaymanToskes
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.
Contact
KlaymanToskes, P.A.
Lawrence L. Klayman, Esq.
888-997-9956
lawrence@klaymantoskes.com
www.klaymantoskes.com
SOURCE: KlaymanToskes, P.A.