The Securities Law Firm of Menzer & Hill, P.A. www.suemyadvisor.com, announced today it filed an arbitration claim against Comerica Securities, Inc., a subsidiary of Comerica Bank (NYSE: CMA) on behalf of an 81 year old retired investor and his wife.
The claim alleges that the Respondent and several of its brokers were negligent in the management of Claimants’ portfolio, originally worth over $1 million. The claim further alleges violations of Michigan Uniform Securities Act, unsuitability, breach of fiduciary duty and breach of contract. Claimants’ losses exceed $100,000.
Michael Hill, Managing Partner with the Securities Law Firm of Menzer & Hill, P.A. says, “the investors wanted a safe and conservative growth portfolio for the remainder of their retirement and instead received an actively traded account that exposed them to unnecessary market risks.”
For a free case evaluation or to discuss this matter, please contact the Securities Law Firm of Menzer & Hill, P.A. at 888-923-9223, or visit us on the web at www.suemyadvisor.com.