Joseph Chu, Broker with RBC Capital Markets, Facing Over $2M in Customer Disputes Involving Energy Sector Losses

Chu currently has two pending customer disputes.

The Sonn Law Group is investigating allegations that Joseph Chu made unsuitable investment recommendations. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Joseph Chu (CRD#: 4546805) is currently registered as a broker and investment adviser with RBC Capital Markets, where he has been employed since August 2018. Previously, Chu was registered as a broker and investment adviser with Merrill Lynch from 2002 until 2018.

Chu has three disclosures on his BrokerCheck report.

August 2020 Customer Dispute

• Status: Pending
• Allegations: Claimant contends Respondent recommended unsuitable investments in oil-producing and industrial metals & materials stocks leading to an over concentration in those sectors which was outside of their investment objectives. Claimants allege the accounts declined in value from September 2018 through January 20, 2020.
• Damage Amount Requested: $1,600,000.00

July 2020 Customer Dispute

• Status: Pending
• Allegations: Claimants allege that the Financial Advisor misrepresented the risk of allocation in Energy and Material sectors investments and over concentrated the Claimant’s accounts in highly volatile investments.
• Damage Amount Requested: $500,001.00 

May 2008 Customer Dispute

• Status: Denied
• Allegations: Client  alleges that the financial advisor made unsuitable investment recommendations.
• Settlement Amount: $90,000.00
• Broker Comment: Client opened accounts in August of 2007. In 2007 the client’s account experienced a positive rate of return. In 2008 the client lose some of the gains made in 2007. Still the client’s overall rate of return was positive. The firm is of the opinion that the investments made by the investment manager were suitable. Firm responded “no merit” to client’s claims.

Contact Us Today

The Sonn Law Group is currently investigating allegations that Joseph Chu made unsuitable investment recommendations. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.