Merrill Lynch Phil Scott Team Income Portfolio
McCabe Rabin, P.A. Investigating Merrill Lynch in Light of Two Recent FINRA Awards Finding the Firm Liable to Investors for Damages
The securities law firm of McCabe Rabin, P.A. is investigating claims on behalf of investors regarding possible misconduct in connection with the Phil Scott Team Income Portfolio offered by the Phil Scott Team out of the Bellevue, Washington branch of Merrill Lynch, Pierce Fenner & Smith (“Merrill Lynch”).
Recently, two FINRA arbitration panels found Merrill Lynch liable for investor losses and awarded more than $2 million in damages to the customers. In June 2011, a New York panel awarded $880,000 in compensatory damages to investors (FINRA No. 09-06762) and on January 13, 2012, a Detroit panel awarded $1.2 million, including costs and attorney’s fees, to former Boston Red Sox catcher Doug Mirabelli and his wife (FINRA No. 10-03400). In both instances, the investors had been placed in the Phil Scott Team Income Portfolio, which was concentrated 100% in equities.
Investors nationwide, who suffered losses in the Merrill Lynch Phil Scott Team Income Portfolio, may contact McCabe Rabin, P.A for a review of their potential claim.
McCabe Rabin, P.A.
1601 Forum Place, Suite 301
West Palm Beach, Florida 33401
Toll Free (877) 915-4040