Public records published by the Financial Industry Regulatory Authority (FINRA) on September 9, 2016 indicate that Florida-based Merrill Lynch broker Robert Yahney is the subject of a pending customer complaint. The securities and investment fraud law firm Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Yahney (CRD# 4038119).
Robert Yahney has spent 16 years in the securities industry and has been registered with Merrill Lynch in Tampa, Florida since 1999. He has no previous registrations. He is a registered broker and investment adviser with 27 US states and territories.
According to his BrokerCheck report, Robert Yahney has received one pending customer complaint and one denied customer complaint.
In June 2016, a customer alleged Robert Yahney, while employed at Merrill Lynch, made “unsuitable investment recommendations and misrepresentation and omission of material facts from February 2011 to November 2014.” The customer is seeking $500,000 in damages in the pending complaint.
In 2005, a customer alleged Robert Yahney, while employed at Merrill Lynch, omitted material facts related to a variable annuity investment. The customer sought unspecified damages in the complaint, which was denied.
Federal securities law prohibits brokers like Robert Yahney from making untrue or false statements that can mislead their clients — an act referred to as “misrepresentation.” Nor may they omit material facts regarding an investment, or the effect that an investment could have on the client’s finances. A “material fact” is a piece of information that would be a significant consideration for a reasonable investor in making a decision about an investment. Some examples include the risk level of a stock, the potential return on an investment, or the fees involved with the transaction. Brokers and investment advisers who misrepresent material facts may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.
If you or someone you know has a complaint regarding Robert Yahney, call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. You may be eligible to recoup losses. Fitapelli Kurta accepts every case on contingency: we only get paid if and when you collect money. Time to file your claim may be limited, so we recommend you avoid delay. Call 877-238-4175 now to speak to an attorney for free.