Lawrence Merl (CRD #: 2443190), a broker registered with David Lerner Associates, has a third disclosure related to an unsuitable investment, according to his BrokerCheck record, accessed on December 8, 2020. Details of those disclosures are provided below.
On October 14, 2020, a client alleged that Lawrence Merl had made an unsuitable investment recommendation of Energy 11 securities. These investments focus on oil and gas-producing properties. Many investors have alleged that they did not realize the potential for losses until they lost money in the wake of the covid-19 pandemic. The clients are seeking $999,999; the dispute is pending.
On April 29, 2004, Lawrence Merl entered into an Acceptance, Waiver, and Consent (AWC) agreement with the National Association of Securities Dealers (NASD). Mr. Merl consented to the findings that he made unsuitable margin purchases of illiquid Real Estate Investment Trusts (REITs). Lawrence Merl also consented to a five-month suspension and a fine of $52,000.
On November 26, 2002, the Securities and Exchange Commission initiated an investigation into Lawrence Merl. The SEC investigated various investors’ purchases of REITs, which are notoriously risky investments.
Lawrence Merl has passed the Series 63 Uniform Securities Agent State Law Examination, the Securities Industry Essentials Examination, and the Series 7 General Securities Representative Examination. He is a registered broker in Connecticut, Florida, Kentucky, Maryland, Nevada, New Jersey, New York, North Carolina, Pennsylvania, South Carolina, Vermont, and Virginia.
During his 26 years of experience, Lawrence Merl has only worked at one firm.
- David Lerner Associates (CRD #: 5397)
If Lawrence Merl was your broker and you have questions about your investments, don’t hesitate to contact the securities attorneys of Fitapelli Kurta. Call (877) 238-4175 or email email@example.com for a free case consultation with a securities attorney.