Published On: February 9, 2017

Were you recommended Breitburn Energy by your Merrill Lynch broker? If so, the attorneys at Stoltmann Law Offices are interested in speaking with you. Recently, a Financial Industry Regulatory Authority (FINRA) arbitrator upheld a claim for damages against the firm, after a broker at Merrill Lynch recommended Breitburn to a retiree client. The arbitrator awarded compensatory damages, pre-judgment interest, expert fees, attorneys fees and the filing fee to be awarded to the client. Breitburn Energy was delisted from the Nasdaq and filed for bankruptcy. Typically, oil and gas and energy investments are high-risk and illiquid ones that are not suitable for many investors, especially elderly ones. A broker at Merrill Lynch or other brokerage firm such as Wells Fargo must take into account the client’s age, net worth, investment objectives and investment sophistication before recommending or selling an investment. If he does not, his firm can be held liable for investment losses. If you were a victim of a broker at Merrill Lynch recommending or selling unsuitable oil, gas and energy investments, please call our securities law firm today. One of our attorneys will give you a free consultation as to whether we may be able to help you bring a claim against Merrill Lynch for unsuitable investments. We take cases on a contingency fee basis. We are based in Chicago, Illinois.

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If you have suffered financial losses because of the negligence or fraud of your financial advisor or broker through unsuitable investment recommendations, over-concentration, churning, misrepresenting risks, conversion or selling away, you have legal rights and options to pursue recovery of those losses.

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