Merrill Lynch Sued By Investors For Bad Investment Advice

Heather Peterson Weber (also known as Adrienne Weber) of Tampa Florida a stockbroker employed by Merrill Lynch Pierce Fenner Smith Incorporated has been referenced in a customer initiated investment related arbitration claim where the customer sought $350,000.00 in damages founded on accusations that (1) misrepresentations and omissions had been made in regard to the terms and conditions of investments sold to the customer and (2) recommendations of common or preferred stocks were unsuitable for the customer in view of the customer’s objectives for investing and tolerance for risk. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-02789 (Sept. 24, 2019).

FINRA Public Disclosure reveals that Weber has been referenced in ten customer initiated investment related disputes concerning accusations of his improprieties when the stockbroker was associated with securities broker dealers including Merrill Lynch. Particularly, a customer filed an investment related arbitration claim in reference to Weber’s conduct where the customer sought $1,000,000.00 in damages based upon accusations that when Weber was associated with Merrill Lynch, transactions were unsuitable given the customer’s investment profile, the customer was poorly advised, and untrue statements were made by the stockbroker concerning the risks of investments including options which caused losses for the customer’s account. FINRA Arbitration No. 17-00599 (Mar. 10, 2017).

Another customer initiated related arbitration claim pertaining to Weber’s conduct has been settled for $265,000.00 in damages supported by allegations that when Weber was employed by Merrill Lynch Pierce Fenner Smith Incorporated, information relating to options transactions had been concealed from the customer by the stockbroker, and transactions that were facilitated in the customer’s account failed to be suitable because of the customer’s investment circumstances or risk aversion. FINRA Arbitration No. 16-01835 (Dec. 21, 2017).

Weber is also referenced in a customer initiated investment related arbitration claim which was settled for $95,000.00 in damages based upon allegations that misrepresentations were made to the customer by the stockbroker regarding the terms, conditions, risks, or status of options transactions effected when Weber was associated with Merrill Lynch, and investment recommendations or transactions made by the stockbroker were not suitable for the customer and had caused the customer to experience losses. FINRA Arbitration No. 17-00600 (Aug. 13, 2018).

An additional customer initiated related arbitration claim concerning Weber’s activities has been resolved for $92,500.00 in damages founded on accusations that when Weber was employed by Merrill Lynch, options transactions were wholly inappropriate for the customer, and false or misleading statements had been made in regard to the terms and conditions of those transactions. FINRA Arbitration No. 17-00613 (Dec. 12, 2018).

Weber has been registered with Merrill Lynch since March 17, 2006.