Erez Law is currently investigating B. Riley Wealth Management broker Murray Roark (CRD# 1041803) for investment losses. Roark has been registered with B. Riley Wealth Management in Dallas, Texas since 2011.
Roark has been the subject of five customer complaints between 1999 and 2019, two of which were denied and one was closed without action, according to his CRD report:
May 2019. “Account open from June 2013 to April 2017, allege monetary loss, breach of fiduciary duty, negligence, negligent supervision, unsuitable recommendations and concentration in the energy sector.” The customer is seeking $300,000 in damages and the case is currently pending. The complaint took place while Roark was registered with B. Riley Wealth Management (Wunderlich Securities, Inc) and was regarding equity OTC and oil and gas investments.
February 2016. “Arbitration alleges lack of diversification, over concentration, and misrepresentation. The dates of alleged activities are October 2014 through December 2015.” The customer sought $303,950 in damages and the case was settled for $275,000. The complaint took place while Roark was registered with WUnderlich Securities, Inc. and was regarding equity OTC, common and preferred stocks, and oil and gas investments.
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, B. Riley Wealth Management may be liable for investment or other losses suffered by Roark’s customers.
Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and 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.