Securities law firm Carmel, Milazzo & DiChiara LLP (CMD) is investigating claims against Dennis Albert Mehringer Jr. and Western International Securities Inc. for churning (excessive trading), unsuitable recommendations and failure to supervise.
According to FINRA, Mr. Mehringer made unsuitable recommendations that caused a customer to engage in excessively expensive short-term trading and intra-day switching of mutual fund Class A shares. The FINRA complaint alleges that Mehringer recommended the short-term mutual fund trading and the intra-day mutual fund switching without reasonable grounds to believe that the recommendations were suitable for the customer in light of the frequency and nature of the transactions, including the associated sales loads, based on the customer’s investment objectives. Given the long-term nature of Class A mutual fund share investments, along with the sales loads incurred in connection with frequent trading and switching between the relevant mutual funds and mutual fund families, Mehringer’s short-term trading and switching was also unsuitable for any customer. Mehringer received $169,735 in commissions from these transactions.
If you or someone you know lost money investing with Dennis Albert Mehringer Jr. or Western International Securities Inc., you may be entitled to recover your investment losses through FINRA arbitration. CMD accepts cases on a contingency fee basis, which means we only get paid if you get paid. Your time to file a claim may be limited, so contact us today at (212) 658-0458 or email@example.com for a free and confidential case evaluation.