Strategic Return Notes – Cease and Desist Order Filed by SEC Against Merrill Lynch

Strategic Return Notes – Cease and Desist Order Filed by SEC Against Merrill Lynch | Goodman & Nekvasil P.A. May Recover Investor Losses

According to the SEC Findings:

These proceedings involve Merrill Lynch’s failure to adequately disclose certain fixed costs in a proprietary volatility index linked to structured notes known as Strategic Return Notes (“SRNs”) of Bank of America Corporation (“BAC”). Merrill Lynch offered and sold approximately $150 million of these volatility notes to approximately 4,000 retail investor accounts in 2010 and 2011. The disclosures made it appear as if the volatility product had relatively low fixed costs. The offering materials emphasized that investors would be subject to a 2% sales commission and a 0.75% annual fee. The offering materials failed to adequately disclose a third fixed, regularly occurring cost included in its proprietary volatility index known as the “Execution Factor” (distinct from “holding” or “decay” costs associated with daily calculation of the underlying index which are variable and depend upon market conditions). As a result, the disclosures in the offering materials of the fixed costs associated with the SRNs were materially misleading.

Investors in Strategic Return Notes May Recover their Losses with Goodman & Nekvasil, P.A.

If you invested in Strategic Return Notes, Goodman & Nekvasil, P.A. may help you. Goodman & Nekvasil, P.A., a Clearwater, Florida, law firm with a national practice representing victimized investors, has recovered more than $180 million dollars on behalf of victimized investors. 

All our cases are handled on a purely contingency fee basis by Kalju Nekvasil, Esq., formerly regional counsel with the NASD, now known as FINRA. Kalju Nekvasil, Esq. has practiced in this area of the law for more than 35 years. 

There is no charge for an evaluation of your case. Further, we handle our cases on a contingency fee basis. This means that unless we recover money for you, we charge no attorney’s fee. Unless you recover any money, you pay us nothing, not even the costs and expenses which the firm will advance on your behalf.

If you incurred investment losses in Strategic Return Notes would like your case evaluated by a securities attorney (again, there is no charge for an evaluation and all cases are handled on a purely contingency fee basis), please contact us. 

Strategic Return Notes, Unsuitable Investment Advice, Investment Fraud, Churning, Misrepresentation and Omission of Material Facts, Elder Fraud, Unauthorized Trading, Theft, Selling Away, Unapproved Outside Business, Nationwide, SEC, Strategic Return Notes

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