{"id":253,"date":"2007-10-22T17:53:58","date_gmt":"2007-10-22T17:53:58","guid":{"rendered":"https:\/\/www.stockbrokerfraudblog.com\/2007\/10\/merrill_liable_for_6_million_t_1"},"modified":"2021-09-20T15:41:21","modified_gmt":"2021-09-20T20:41:21","slug":"merrill-liable-for-6-million-t-1","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/merrill-liable-for-6-million-t-1\/","title":{"rendered":"Merrill Liable for $6 Million to Estate of Elderly Couple"},"content":{"rendered":"

\t\t\t\tA Florida jury has ordered Merrill Lynch & Co. Inc. to pay $6 million to the daughters of a New Jersey philanthropist and his wife. The claims against Merrill Lynch included that its broker took advantage of the elderly couple’s deteriorating mental condition in order to convert their money into investments that paid he and the firm higher commissions.<\/p>\n

The suit also claimed the Merrill broker falsely told Mr. Rothman in three letters that the investments carried no fees or sales commissions. An attorney for the heirs said that Merill and its brokers made at least $2.5 million in fees on the Rothmans’ $32 million investment in variable annuities, while the investors only made $600,000.<\/p>\n

“The verdict is astonishing in light of the undisputed fact that the Rothmans, who were wealthy, sophisticated investors, made $10 million on the annuities at issue, and did not lose money,” a Merrill spokesman said. “The verdict is unjustified by the facts and law.”<\/p>\n

Continue Reading \u203a<\/a><\/div>\n","protected":false},"excerpt":{"rendered":"

A Florida jury has ordered Merrill Lynch & Co. Inc. to pay $6 million to the daughters of a New Jersey philanthropist and his wife. The claims against Merrill Lynch included that its broker took advantage of the elderly couple’s deteriorating mental condition in order to convert their money into investments that paid he and […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3800],"tags":[],"class_list":["post-253","post","type-post","status-publish","format-standard","hentry","category-merrill-lynch"],"yoast_head":"\nMerrill Liable for $6 Million to Estate of Elderly Couple — Investor Lawyers Blog — October 22, 2007<\/title>\n<meta name=\"description\" content=\"A Florida jury has ordered Merrill Lynch & Co. Inc. to pay $6 million to the daughters of a New Jersey philanthropist and his wife. The claims against — October 22, 2007\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/merrill-liable-for-6-million-t-1\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Merrill Liable for $6 Million to Estate of Elderly Couple — Investor Lawyers Blog — October 22, 2007\" \/>\n<meta name=\"twitter:description\" content=\"A Florida jury has ordered Merrill Lynch & Co. Inc. to pay $6 million to the daughters of a New Jersey philanthropist and his wife. The claims against — October 22, 2007\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Shepherd Smith Edwards & Kantas, LLP\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Merrill Liable for $6 Million to Estate of Elderly Couple — Investor Lawyers Blog — October 22, 2007","description":"A Florida jury has ordered Merrill Lynch & Co. Inc. to pay $6 million to the daughters of a New Jersey philanthropist and his wife. 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