Were you the victim of David Lerner Associates, Inc. broker Lawrence Merl (CRD# 2443190) who is alleged to make unsuitable investment recommendations? He has been registered with David Lerner Associates, Inc. in White Plains, New York since 1994.
In 2004, He faced a NASD regulatory suspension regarding illiquid real estate investment trusts (REITs).
Lawrence Merl Customer Complaints
He has been the subject of two customer complaints between 2020 and 2021, according to his CRD report:
November 2021. “Unsuitability, omissions.” The customer is seeking $100,000 in damages and the case is currently pending.
October 2020. “unsuitability, misrepresentation in connection with Energy 11.” The customer sought $999,999 in damages and the case was settled for $750,000.
Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, David Lerner Associates, Inc. may be liable for investment or other losses suffered by Lawrence Merl’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If you have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.