Currently involved in a pending dispute alleging misrepresentation of variable annuities
Did you lose money investing with Bernie Adair? Under FINRA Rules, brokerage firms are liable for their brokers’ misconduct and investors may be able to their investment through FINRA arbitration. Contact Sonn Law Group today or call us at 866–827–3202 for a free consultation.
Merrill Lynch broker Bernie Adair, (CRD#: 1535429) is currently involved in a pending dispute alleging misrepresentation of variable annuities, with requested damages totaling $550,000.
According to his FINRA BrokerCheck profile, Adair has 32 years of industry experience, and has been with Merrill Lynch of Jupiter, FL, from 1991-present.
He has nine disclosures in his FINRA record.
- In July 2019, the power of attorney for one of Adair’s clients alleged unsuitability, misrepresentation, and improperly completed account documentation concerning a variable annuity. The POA is alleging $550,000 in damages. The complaint is pending.
- FINRA records show that Adair had a civil lien filed against him in 2017 for $44,540.
- In May 2009, one of Adair’s clients alleged that Adair made unauthorized trades, unsuitable investment recommendations, and failed to follow instructions, alleging damages of $750,000. Merrill Lynch settled the claim for $45,000.
- A customer alleged in June 2004 that Adair made unauthorized transactions regarding her account, with unspecified damages. Merrill Lynch settled the claim for $13,845.
- In August 2003, a claimant in arbitration alleged Adair made unsuitable recommendations, investments and unauthorized transactions. Customer also alleged overconcentration in equities, alleging unspecified damages. Merrill Lynch settled the claim for $22,500.
- A client alleged unsuitability in arbitration in October 1996, requesting $100,000 in damages. Merrill Lynch settled for $75,000.
- A customer dispute was filed in April 2002, alleging overexposure to risk, with unspecified damages. The claim was denied.
- In another claim denied by the firm, in June 1999 a customer alleged misrepresentation, with requested damages of $31,785.
Jeffrey R. Sonn is an experienced investor losses attorney. If you suffered losses because a financial professional or corporate executive misappropriated funds, Mr. Sonn will protect your rights and interests. Please do not hesitate to contact the Sonn Law Group today for a free review of your claim.