KlaymanToskes Files FINRA Claim Seeking Up to $1 Million Against LPL Financial and Principal Securities

Claim Alleges Speculative Biotech and Meme Stock Recommendations, Unsuitable Covered Call Trading, Excessive Trading, and Failure to Supervise

Amarin Corporation PLC (NASDAQ:AMRN)

EAST BRUNSWICK, NJ, UNITED STATES, October 9, 2026 /EINPresswire.com/ — National investment loss and securities law firm KlaymanToskes announces the filing of a Financial Industry Regulatory Authority (“FINRA”) arbitration claim against LPL Financial, LLC and Principal Securities, Inc. The claim, FINRA Case No. 26-02246, seeks up to $1 million in damages on behalf of three investors who suffered substantial losses in accounts managed by former brokers Edward Munoz (CRD# 5377729) and Mark Ramos (CRD# 5897595).

Investors who suffered losses in accounts managed by Edward Munoz or Mark Ramos through LPL Financial or Principal Securities are encouraged to contact attorney Lawrence L. Klayman, Esq. at 888-997-9956 or investigations@klaymantoskes.com for a free and confidential consultation to discuss their
potential recovery options.

According to the Statement of Claim, Munoz and Ramos managed the investors’ accounts as a team, first through Principal Securities and later through LPL Financial. Although the investors had different financial circumstances and objectives, the claim alleges that the brokers used a common strategy across their accounts: concentrating assets in speculative biotechnology and “meme” stocks, selling short-dated covered call options, engaging in excessive trading, and charging advisory fees of up to 2%.

The investors included retired and financially vulnerable investors whose portfolios required careful consideration when making investment recommendations. The claim alleges that each investor was exposed to a level of risk inconsistent with their needs, objectives, and investment experience.

The investments at issue included Amarin Corporation, Inovio Pharmaceuticals, Corbus Pharmaceuticals, AMC Entertainment, Affirm Holdings, and Ebix. The claim highlights the risks of overconcentration, alleging that nearly 80% of one investor’s savings was placed in a single biotechnology stock before its value declined sharply. Other accounts were similarly concentrated in volatile individual stocks rather than diversified investments appropriate for the customers’ circumstances.

The claim also alleges that investors were not adequately informed that the covered call strategy would limit their potential gains without protecting them from significant losses when the underlying stocks declined. Shares were allegedly called away and repurchased repeatedly, creating substantial trading
activity while investors continued to pay advisory fees of up to 2%. In some instances, advisory fees were allegedly charged on significant cash balances that remained uninvested for extended periods.

Brokerage firms and financial professionals are required to accurately assess each customer’s investment experience, risk tolerance, financial needs, and objectives before recommending an investment or trading strategy. Investors who were placed in speculative stocks, subjected to frequent covered call trading, charged substantial advisory fees, or assigned inaccurate investment profiles may be entitled to pursue a financial recovery through FINRA arbitration.

“This claim alleges a repeated pattern of exposing investors’ retirement and long-term savings to concentrated speculative stocks and an options strategy that capped potential gains without protecting against significant declines,” said Lawrence L. Klayman, Managing Partner of KlaymanToskes. “Brokerage firms must ensure that customer profiles are accurate, recommendations are appropriate, and supervisory systems identify excessive trading, unsuitable concentration, and other warning signs before investors suffer substantial losses.”

As of October 8, 2026, Munoz’s current BrokerCheck report discloses four customer disputes and one employment termination, while Ramos’s current BrokerCheck report discloses one customer dispute. Neither is currently registered with a FINRA member firm. Munoz was registered with Principal Securities from 2019 through 2021 and LPL Financial from 2021 through 2023. Ramos was registered with Principal Securities from 2019 through 2021 and LPL Financial from 2021 through 2024.

Investors who suffered losses involving speculative stocks, covered call options, excessive trading, or fee-based accounts managed by Edward Munoz or Mark Ramos are encouraged to contact KlaymanToskes at 888-997-9956 or investigations@klaymantoskes.com for a free and confidential consultation to discuss their potential recovery options.

About KlaymanToskes

KlaymanToskes is a leading national securities law firm which practices exclusively in the field of securities arbitration and litigation on behalf of retail and institutional investors throughout the world in large and complex securities matters. The firm has recovered over $650 million in Securities Litigation and FINRA Arbitration matters. KlaymanToskes has office locations in California, Florida, Nebraska, New York, and Puerto Rico.

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Contact

Lawrence L. Klayman, Esq.
KlaymanToskes, PLLC
+1 888-997-9956
investigations@klaymantoskes.com

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