Broker Complaints: BlackRock Investments, LLC (CRD# 38642)

The securities and investment fraud law firm Fitapelli Kurta is interested in hearing from investors who have complaints regarding New York-based brokerage firm BlackRock Investments, LLC (CRD# 38642).

Formed in Delaware in 1994, BlackRock Investments is headquartered in New York, New York and registered with 53 US states and territories. Laurence Fink is Chairman and Director; Joseph Mark Thomas Linhares is Chief Executive Officer; Matthew Mallow is General Counsel; Gene Montenecourt is Chief Compliance Officer; Saurabh Pathak is Chief Financial Officer and Financial Operations Principal.

According to the firm’s BrokerCheck report, BlackRock Investments is the subject of one customer complaint that evolved into arbitration.

In 2007 a customer alleged BlackRock Investments omitted material facts related to an investment in mutual funds. The complaint resulted in an award to the customer of more than $1,100.

FINRA rules and federal securities law require broker-dealer firms like BlackRock Investments to uphold a fiduciary duty to act only in their clients’ best interests. This means, for example, that firms may only recommend suitable investments that weigh the client’s investment experience, investment goals, net worth, income, age, risk tolerance, and other factors. Broker-dealer firms are not permitted to misrepresent or omit material facts related to an investment, as this might induce an investor to make unsuitable investments. Brokers and firms who violate applicable rules and regulations may be subject to disciplinary action from FINRA, the Securities and Exchange Commission, or state authorities.

According to InvestmentNews, in 2014 BlackRock Investments was named in a complaint alleging the firm breached its fiduciary duty by “charging exorbitant fees.” The complaint was filed in the U.S. District Court for the District of New Jersey in Trenton, N.J.

If you have suffered losses resulting from investments made with BlackRock Investments, you may be able to collect a recovery of lost funds. Call the securities and investment fraud law firm Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis: we only receive payment if and when you recover money. You may have a limited window to file your claim, so we suggest you avoid delay. Call 877-238-4175 now to speak to an attorney for free.