• July 16, 2018
• Merrill Lynch

The Wolper Law Firm, P.A. is currently investigating claims against Erik Littlejohn, a Financial Advisor at Merrill Lynch in Houston, Texas.  Erik Littlejohn first entered the securities industry in the 1980s and previously worked for UBS Financial Services and Morgan Stanley.

According to publicly available records released by the Financial Industry Regulatory Authority (FINRA), on January 10, 2018, a customer filed a complaint against Erik Littlejohn for recommending unsuitable investments “in the energy sector [that] were risky and concentrated and that they were not adequately warned about the risks associated with these investments.”  The alleged damages are $499,999 and the matter remains pending.

https://brokercheck.finra.org/individual/summary/1910841#disclosuresSection

Through 2014, energy sector investments were recommended by Financial Advisors because they generally paid high dividends and were appreciating in tandem with the price of oil, which peaked in 2014.  When the price of oil came declined sharply, so too did the value of stocks and bonds issued by companies in the energy sector.

Financial advisors have a legal and regulatory obligation to recommend only suitable investments that are appropriate for their clients’ needs and objectives.  Their employing brokerage firm has a legal and regulatory obligation to supervise the Financial Advisors’ sales practices and dealings with clients.  To the extent any of these duties are breached, the customer may be entitled to a recovery of his or her investment losses.

If you or someone you know was a customer of Samuel Rankin and you experienced investment losses, please contact the Wolper Law Firm, P.A. at 800.931.8452 to discuss your specific situation and the legal options available.  The Wolper Law Firm, P.A. represents investors nationwide in securities litigation and arbitration.

Matt Wolper, the Managing Principal of the Wolper Law Firm, P.A., is a trial lawyers who has handled hundreds of securities cases during his career involving a wide range of products, strategies and securities.  Prior to representing investors, he was a partner with a national law firm, where he represented some of the largest banks and brokerage firms in the world in securities matters.  Simply put, he knows how the other side evaluates cases, which gives you a competitive advantage.