Investors may have incurred losses due to securities broker Yitzchak I. Prag [CRD: 7221045, Red Bank, New Jersey], based on disclosures on Financial Industry Regulatory Authority (FINRA) BrokerCheck. Yitzchak Prag worked for Merrill Lynch, Pierce, Fenner & Smith Incorporated from November 3, 2020, to May 23, 2024. Read on to find out more about the disclosures involving Yitzchak Prag.
Notably, on April 9, 2025, a Merrill Lynch, Pierce, Fenner & Smith Incorporated client filed a complaint about Yitzchak Prag. Allegedly, Prag made investment recommendations in 2022 that were not in the client’s best interest. Because of this, the client allegedly sustained damages on private placements. As a result, the client requested $5,000 or more in compensation from Merrill Lynch or Prag.
Allegations of unsuitable advice concerning private placements involve claims that a securities broker or financial advisor recommended high-risk or illiquid investments that were not appropriate for the client’s financial profile or objectives. Private placements, including PIPEs, are often complex and less transparent than publicly traded investments, making proper suitability assessments critical.
Do you have concerns or questions regarding investments you made with Yitzchak Prag? If so, you should contact Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney about a potential recovery of your losses. Soreide Law Group has recovered losses for investors throughout the country. Also, the firm works on a contingency fee basis and advances all costs. Prag and brokerage firms Prag worked for deny accusations of sales practice violations.
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