Richard Bruce Sladek (also known as Dick Sladek) of Coeur D’Alene Idaho a stockbroker formerly employed by Merrill Lynch Pierce Fenner Smith incorporated is referenced in a customer initiated investment related arbitration claim where the customer requested unspecified damages founded on accusations of false or misleading statements in regard to real estate securities or investments sold to the customer when Sladek was employed by Merrill Lynch. Financial Industry Regulatory Authority (FINRA) Arbitration No. 19-00774 (Apr. 18, 2019).
FINRA Public Disclosure reveals that Sladek has been identified in eight more customer initiated investment related disputes concerning allegations of his misconduct during the period in which he was associated with Merrill Lynch. In fact, a customer initiated investment related civil action brought in the Superior Court of California involving Sladek’s conduct was settled for $37,500.00 in damages based upon allegations of his failure to conduct due diligence on mutual funds purchased for the customer’s trust. Civil Action No. C01035425. Sladek was later named in a customer initiated investment related arbitration claim in which the customer was awarded $672,094.00 in compensatory damages based upon findings of the violation of securities laws as well as NYSE and NASD rules; deceptive or unfair practices against senior citizens; elder abuse; breach of fiduciary duty; and fraud as it pertained to the customer’s equity investments including BLDP, QCOM, SIRI, CPST, CPN, TGX, ICGE, SFE, FMKT, INVN, SWC, ELY, ITXC and NOVN.
Another customer initiated investment related arbitration claim concerning Sladek’s conduct was settled for $80,000.00 in damages based upon accusations that the customer had been recommended stocks by Sladek that failed to be suitable given the customer’s risk tolerance and goals; and that omissions or misrepresentations were made regarding the features and terms of the stocks sold to the customer when Sladek was associated with Merrill Lynch. Also, the stockbroker is the subject of a customer initiated investment related arbitration claim which was resolved for $45,000.00 in damages supported by allegations of omissions and unfounded statements in regard to the over the counter equities or exchange traded funds transactions effected between 2008 and 2016; and bad advice being provided by Sladek which led the customer to sustain unwarranted losses. FINRA Arbitration No. 16-00570 (Nov. 3, 2016).
Another customer initiated investment related civil action filed in the Superior Court of the State of California that involved Sladek’s activities was settled for $625,000.00 in damages founded on accusations that between April of 2006 and March of 2007, false or misleading statements had been made concerning a real estate investment; the customer was not provided critical details about the investment; recommendations by Sladek failed to be suitable given the customer’s tolerance for risk, objectives, needs or overall investment circumstances; and the investment was improperly executed by Sladek away from Merrill Lynch. Civil Action No. C17-00616 (Nov. 29, 2018).
FINRA Public Disclosure confirms that on August 16, 2017, Sladek was discharged by Merrill Lynch based upon allegations that he failed to comply with the firm’s policies by effecting transactions with a customer outside the firm’s auspices and for engaging in an undisclosed outside business activity.
