80-Year-Old Retired Secretary Sues RBC Capital Markets

The law firm of Securities Fraud Attorney Mark A. Tepper, Esq., has filed claim against RBC Capital Markets for allegedly taking advantage of an 80-year-old retired secretary's vulnerability by repeatedly violating FINRA rules and state law.

The Claim, filed with FINRA, alleges that RBC Capital Markets broker, James M. Earl, told the retiree that her irreplaceable funds were in good investments, "when, in fact, he placed her in harm's way" by recommending high-risk investments.

The claim contends that the broker recommended that [the retiree] sell her Jamaica Government bonds before they matured and purchase speculative grade, high-risk unsecured Senior Notes from two oil and gas companies – Linn Energy and BreitBurn Energy Partners.

The Claim alleges that the broker misstated to the retiree, "oil was doing great, oil was up, and Alaska was opening up pipelines, when in actuality, oil was in the midst of a historic decline." The broker's recommendations also "exceeded [the retiree's] risk tolerance which Respondent recorded as moderate," the Claim alleges.

The Claim further alleges that high-risk warnings by LINN and BreitBurn were in sharp contrast with the broker's misleading assurances. "The high-risk warnings were realized, a little more than a year after the purchases, when both Linn and BreitBurn declared bankruptcy in May 2016," the Claim alleges.

The law firm of Mark A. Tepper, P.A., is continuing investigations into alleged claims against RBC Capital Markets and other brokers. If you have information related to the Claim against RBC Capital Markets or your broker recommended Linn or BreitBurn, contact attorney Mark Tepper at [email protected] or call (954) 961-0096.

About Mark A. Tepper, P.A. (www.marktepper.com)
Attorney Mark A. Tepper is the former Chief Trial Counsel at the New York Attorney General's Bureau of Investor Protection and Securities. He has earned the reputation of "Investor Advocate" while practicing law for over 40 years representing individual investors. FINRA arbitrators have upheld stockbroker fraud claims filed by Mr. Tepper against many brokerage firms. A member of the Florida, New York and California Bars, Mr. Tepper is peer-reviewed for 18 consecutive years as AV PREEMINENT^® for ethical standards and legal ability. It's the highest rating of lawyers in the Martindale-Hubbell Law Directory.