Erez Law is currently investigating Merrill Lynch, Pierce, Fenner & Smith Inc. broker Stephen Medina (CRD# 2614773) related to allegations of unsuitable investment recommendations. He has been registered with Merrill Lynch, Pierce, Fenner & Smith Inc. in Corpus Christi, Texas, since 1995.
Stephen Medina Customer Complaints
He has been the subject of six customer complaints between 2002 and 2023, one of which was denied, according to his CRD report. The most recent complaints were regarding:
September 2023. “Client alleges misrepresentations and unsuitable investments between February 2022 and December 2022.” The customer is seeking $782,500 in damages, and the case is currently pending. The complaint was regarding common and preferred stocks and equity OTC, and it took place while he was registered with Merrill Lynch, Pierce, Fenner & Smith Inc.
June 2016. “The Customer alleges unsuitable investment recommendations, unauthorized trading and misrepresentation from April 2013 to August 2015.” The customer sought $3,571,815 in damages, and the case was settled for $270,000. The complaint was regarding master limited partnerships (MLPs) and options, and it took place while he was registered with Merrill Lynch, Pierce, Fenner & Smith Inc.
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, Merrill Lynch, Pierce, Fenner & Smith Inc. may be liable for investment or other losses suffered by Stephen Medina’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.
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