Debra Rae Lambert of The Villages Florida a stockbroker formerly registered with Merrill Lynch Pierce Fenner Smith is the subject of a customer initiated investment related FINRA securities arbitration claim which was settled for $42,500.00 in damages supported by accusations that misrepresentations had been made by the stockbroker and that her investment recommendations were not suitable for the customer. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-03198 (Mar. 7, 2020). The claim alleges that excessive trades were executed in the customer’s account by the stockbroker during the period that she was associated with Merrill Lynch.
FINRA Public Disclosure confirms that Lambert has been identified in two more customer initiated investment related disputes concerning allegations of her wrongdoing. On July 17, 2017, a customer initiated investment related FINRA securities arbitration claim involving Lambert’s conduct was settled for $47,000.00 in damages founded on accusations of excessive and unauthorized trades by Lambert at Merrill Lynch. FINRA Arbitration No. 16-00228. According to the claim, the customer received bad investment advice from the stockbroker.
Lambert is also the subject of a customer initiated investment related FINRA securities arbitration claim in which the customer sought $135,000.00 in damages based upon allegations that the customer’s Raymond James account was churned and that the stockbroker’s negligence resulted in the customer’s damages. FINRA Arbitration No. 18-03198 (Sept. 13, 2018). The claim alleges breach of contract and breach of fiduciary as it pertained to the customer’s fixed income and municipal debt investments. According to the claim, misrepresentations and omissions had also been made by the stockbroker, and investments were unsuitable for the customer.