Stephen Marchelo Medina, of Corpus Christi, Texas, a stockbroker registered with Merrill Lynch Pierce Fenner Smith Incorporated, is the subject of a customer initiated investment related Financial Industry Regulatory Authority (FINRA) securities arbitration claim filed on September 27, 2023. The customer alleged misrepresentations, and that Medina made unsuitable investment recommendations. The customer sought $782,500.00 in damages. This case is currently awaiting a resolution. FINRA Arbitration No. 23-02604.
According to FINRA Public Disclosure, on May 12, 2018, a different customer filed an investment related complaint alleging unsuitable investment recommendations from December 2017 until May 2018. On May 15, 2018, Merrill Lynch denied the customer’s complaint.
On June 15, 2016, a customer initiated investment related FINRA securities arbitration claim was filed alleging unsuitable investment recommendations, unauthorized trading, and misrepresentation between 2013 and 2015. On October 20, 2017, Merrill Lynch agreed to pay $270,000.00 to the customer to resolve the case. FINRA Arbitration No. 16-02982.
On July 17, 2003, a customer initiated investment related civil action alleged that Medina made unsuitable recommendations. The customer requested $200,000.00 in damages. On October 7, 2004, the dispute was settled, as Merrill Lynch paid $400,000.00 to the customer. Civil Action No. 03-61336-3.
On July 14, 2003, another customer initiated investment related complaint alleged that Medina made unsuitable recommendations and misrepresented material facts regarding their investment account. The case was settled on December 13, 2005, with Merrill Lynch paying $175,000.00 to the customer.
Medina has been associated with Merrill Lynch Pierce Fenner Smith Incorporated since May 16, 1995, as both a stockbroker and investment advisor representative.
