Merrill Lynch, Pierce, Fenner & Smith Incorporated Broker Juan Barreras Investment Losses

Posted on Tuesday, February 11th, 2020 at 4:48 pm    

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Erez Law is currently investigating Merrill Lynch, Pierce, Fenner & Smith Incorporated broker Juan Guillermo Herrans Barreras (Juan Barreras) (CRD# 1742910) regarding unsuitable investment recommendations. Barreras has been registered with Merrill Lynch, Pierce, Fenner & Smith Incorporated in Guaynabo, Puerto and Miami, Florida since 2010.

Barreras has been the subject of five customer complaints between 2015 and 2019, according to his CRD report:

August 2019. “The Customer alleges unsuitable investment recommendations and misrepresentation.” The customer is seeking $800,000 in damages and the case is currently pending. This complaint was regarding mutual funds.

January 2019. “The Customer alleges unsuitable investment recommendations and misrepresentations.” The customer is seeking $600,000 in damages and the case is currently pending. This complaint was regarding mutual funds.

August 2016. “Unsuitable investment recommendations, misrepresentation and omission of material facts from January 2011 to December 2016.” The customer was seeking $500,000 in damages and the case was settled for $125,000. This complaint was regarding municipal debt.

June 2015. “Customer alleges misrepresentation and omission of material facts, and unsuitable investment recommendations from December 2011 to February 2015.” The customer sought $500,000 in damages and the case was settled for $250,000. This complaint was regarding municipal debt.

April 2015. “The customers allege unsuitable investment recommendations and misrepresentation and omission of material facts.” The customer sought $300,001 in damages and the case was settled for $55,000. This complaint was regarding municipal debt and closed-end funds.

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, FIRM may be liable for investment or other losses suffered by Barreras’ 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.