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DJ Merrill Loses $2M to Two It Says Copied Film Exec Picks

Dow Jones Newswires

Merrill Lynch & Co. (MER) lost $2.14 million in an arbitration case to two Los Angeles brothers who the firm claims tried to mirror the trading strategies of Hollywood director Michael Bay. The brothers, Aleks and Michel Horvat, accused the firm of churning their accounts and placing them in unsuitable stocks, including Broadcom Corp. (BRCM) […]

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Merrill Lynch Ordered to Pay $2.1 Million in Arbitration

PR Newswire

An NASD arbitration panel ordered Merrill Lynch (NYSE: MER-news) to pay two former customers more than $2.1 million stemming from the company’s sale to them of unsuitable securities, excessive trading of their accounts and failure to supervise. Brothers Alex and Michel Horvat alleged that Win Troung, a broker in the Merrill Lynch Beverly Hills office, […]

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Can You Afford To Trust Your Stockbroker?


LOS ANGELES — Marilyn and Dean Aspinal of Orange County are having a financial crisis after losing nearly a quarter of a million dollars in the stock market. They claim their stockbroker recommended investments inappropriate for people about to retire. “He said, ‘I’m going to put you in some technology stocks. We’re going to make […]

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Disgruntled Investors Face Tough Choices as Arbitration Bogs Down

Los Angeles Times

When Oscar Bugarini was downsized into early retirement from Boeing Co.’s Long Beach aircraft plant in 1999, he turned his $240,000 in retirement savings over to brokerage Salomon Smith Barney, asking in writing for a conservative portfolio balanced among “value” stocks, bonds and cash. Instead, Bugarini says, he wound up with technology stocks and Salomon-managed […]

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Arbitration Cases Target Use For Stocks and Home Mortgages

Investment News

A common Wall Street practice to encourage clients to take out margin loans has come under fire from plaintiff’s lawyers who claim brokers put their own financial interest ahead of their clients’. To boost margin-loan business, the lawyers claim, some brokerage houses changed the wording on new client account forms while others boosted their broker […]

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