FT. LAUDERDALE, Fla., July 18, 2016 /PRNewswire/ -- Merrill Lynch is facing a claim for damages from a retiree for recommending BreitBurn Energy Partners LP.
The claim, filed with FINRA by the law firm of Mark A. Tepper, P.A., alleges that Merrill Lynch put a retired customer of the brokerage firm "in harm's way by making unsuitable recommendations that exposed [the retiree] to a risk of loss that exceeded his risk tolerance and was inconsistent with his financial situation and needs."
"On May 25, 2016, [the retiree] sold his BreitBurn units for $.0836 per unit, for nearly a total loss," the claim alleges.
"Respondent recommended that [the retiree] use a portion of his irreplaceable funds to buy, hold and buy more BreitBurn Energy Partners LP," the claim asserts.
The Mark A. Tepper securities law firm recently announced that it is investigating alleged claims against Merrill Lynch and other brokerage firms for recommending BreitBurn Energy Partners LP and/or LINN Energy LLC, LinnCo LLC.
How Investors May Recover BreitBurn, LINN or LinnCo losses
Investors who were inappropriately recommended oil and gas investments like BreitBurn Energy Partners LP [BBEPQ], LINN Energy LLC [LINEQ] or LinnCo LLC [LNCOQ], may be eligible to file a claim for recovery.
Did your broker fail to explain the risk of loss in these or other MLPs?
Did your broker recommend a high concentration of these or other MLPs in your accounts?
If you answer "yes" to either question, you may have a claim against your brokerage firm to recover losses, you sustained.
For a free case evaluation from the Mark A. Tepper law firm, email attorney Mark Tepper at [email protected] or telephone 954-961-0096.
About Mark A. Tepper, P.A. (www.MarkTepper.com)
Attorney Mark A. Tepper is the former Chief Trial Counsel at the New York Attorney General's Bureau of Investor Protection and Securities. He has earned the reputation of "Investor Advocate" while practicing law for over 35 years representing individual investors. FINRA arbitrators have upheld stockbroker fraud claims filed by Mr. Tepper against many brokerage firms. A member of the Florida, New York and California Bars, Mr. Tepper is peer-reviewed for 16 consecutive years, AV PREEMINENT® for ethical standards and legal ability, the highest rating of lawyers in the Martindale-Hubbell Law Directory.
MEDIA CONTACT: Mark Hopkinson
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SOURCE Mark A. Tepper, P.A.