KlaymanToskes (“KT”) announces that it recently filed a claim for breach of fiduciary duty seeking $1,000,000 against Merrill Lynch (NYSE: BAC) and RBC Capital Markets (“RBC”) on behalf of investors who had discretionary accounts mishandled by Joseph Ijong Chu (“Chu”). A discretionary account is one that allows an authorized broker, in this case Chu, to buy and sell securities without client consent on each trade and is based on a client consent granting this authorization in writing. This type of relationship is especially one of trust. According to the claim, the investors gave Chu discretion to invest their hard-earned savings…
