FT. LAUDERDALE, Fla., Dec. 03, 2018 (GLOBE NEWSWIRE) -- A claim filed against two brokerage firms, D.A. Davidson & Co. and Raymond James & Associates, Inc. [NYSE: RJF], alleges that these firms recommended BreitBurn Energy Partners LP and LINN Energy LLC, two oil and gas companies, which became nearly worthless and declared bankruptcy.
The claim against D.A. Davidson & Co. and Raymond James & Associates, Inc. was filed with FINRA by the Mark A. Tepper law firm, which is representing the Claimant’s fight for recovery of losses that she suffered.
The claim alleges that the Claimant, a 56-year-old single woman with limited investment knowledge and experience, was dependent on her brokers who took advantage of her trust by making unsuitable recommendations to buy, and then to hold, high risk leveraged oil and gas securities that she did not understand.
“Any person who understood the high risk would not have followed either broker’s high risk recommendations,” the Claim further alleges.
Among the claims alleged, is that D.A. Davidson & Co. failed to supervise its broker, Ralph Hubert Ames and Raymond James failed to supervise its broker, Bill Council. "Respondents are liable for their brokers’ activities, as well as their individual failure to detect and prevent their brokers’ wrongdoing," the Claim contends.
Investors who recovered losses in recent months after Brokers recommended Linn or BreitBurn have praised the Mark Tepper Law firm for its work in representing their claims. For a free case evaluation from the Mark A. Tepper law firm, email attorney Mark Tepper at email@example.com or call 954-961-0096.
About Mark A. Tepper, P.A. (www.marktepper.com)
Attorney Mark A. Tepper is the former Chief Trial Counsel at the New York Attorney General's Bureau of Investor Protection and Securities. He has earned the reputation of "Investor Advocate" while practicing law for over 40 years representing individual investors. FINRA arbitrators have upheld stockbroker fraud claims filed by Mr. Tepper against many brokerage firms. A member of the Florida, New York and California Bars, Mr. Tepper is peer-reviewed for 18 consecutive years as AV PREEMINENT® for ethical standards and legal ability. It's the highest rating of lawyers in the Martindale-Hubbell Law Directory.