Merrill Lynch Sued By Investors For Bad Investment Advice
Christopher David Sadaka of Jupiter Florida a stockbroker currently employed by Merrill Lynch Pierce Fenner Smith Incorporated is referenced in a customer initiated investment related arbitration claim where the customer sought unspecified damages supported by accusations that between May of 2014 and March of 2017: (1) false or misleading statements had been made concerning oil and gas master limited partnership investments sold by Sadaka and (2) investment recommendations made by Sadaka failed to be suitable for the customer and resulted in unwarranted investment losses. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-02459 (Aug. 9, 2018).
FINRA Public Disclosure confirms that Sadaka is referenced in three additional customer initiated investment related disputes that concern allegations of his violative conduct during the period in which he was employed by Merrill Lynch. In particular, a customer initiated investment related arbitration claim concerning Sadaka’s activities was resolved for $160,000.00 in damages founded on accusations that the customer was placed into bad common and preferred stocks between May of 2015 and April of 2016; and false or misleading statements had been made concerning the equities held in the customer’s account. FINRA Arbitration No. 16-01595 (Oct. 25, 2017).
Sadaka is also the subject of two customer initiated investment related arbitration claims in which the customers requested unspecified damages based upon allegations that the customers had been provided poor investment advice concerning the transactions placed in their in-house Money Manager accounts during the time that Sadaka was associated with Merrill Lynch.
Sadaka has been registered with Merrill Lynch since September 9, 2013.