Firm brings elder abuse and financial fraud case against Merrill Lynch

October 8, 2015 – Partner Randy Erlewine today filed a case in Los Angeles County Superior Court for firm client Suzanne Schwartzman in connection with losses sustained in her investment portfolio at Merrill Lynch.  The client hails from the Central Valley, and is an 86-year old widow and 40-plus year customer of Merrill.  She says that despite her conservative investment history and direction, a Merrill broker newly-assigned to her account funneled a significant portion of that portfolio into risky and volatile investments to reap ill-gotten commissions and fees, leading to several hundred thousand dollars in losses.  Ms. Schwartzman has sued Merrill and its broker for elder abuse and related financial improprieties, seeking recovery of those losses as well as for her emotional distress as a result thereof.  A response from the defendants to Ms. Schwartzman’s complaint is due next month.