Gary Kahn Stern of New York New York a stockbroker currently registered with Merrill Lynch Pierce Fenner Smith Inc. is the subject of a customer initiated investment related written complaint on October 24, 2018 where the customer requested unspecified damages based upon accusations that between August 14, 2017 and October 24, 2018, the customer’s investment instructions were not followed for the customer’s managed accounts.
Financial Industry Regulatory Authority (FINRA) Public Disclosure reveals that Stern is referenced in two more customer initiated investment related disputes pertaining to allegations of his violative conduct during the time that he was associated with Merrill Lynch Pierce Fenner Smith Inc. Specifically, on April 13, 2009, a customer initiated investment related complaint regarding Stern’s conduct was resolved for $50,000.00 in damages supported by accusations that that the customer suffered unwarranted investment losses on auction rate securities.
Thereafter, a customer initiated investment related civil action involving Stern’s conduct brought in the Connecticut Superior Court in Hartford, Connecticut was settled for $3,500,000.00 in damages founded on allegations that misrepresentations had been made to the customer; the customer’s assets had been misappropriated; fiduciary duties owed to the customer had been breached; options and stock transactions were effected in the customer’s account that were in no way suitable for the customer; and trades were executed in the customer’s account on an excessive basis. Civil Action No. CV-11-6026660-S (Feb. 7, 2014).
Stern has been employed by Merrill Lynch Pierce Fenner Smith since March 19, 1985.
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