Articles Tagged with MLP investment attorney

shutterstock_188631644-300x225According to BrokerCheck records financial advisor Michael Barnett (Barnett), employed by J.J.B. Hilliard, W.L. Lyons, LLC (JJB Hilliard), has been subject to six customer complaints.  According to records kept by The Financial Industry Regulatory Authority (FINRA) Barnett has been accused by a customer of unsuitable investment advice concerning various investment products including energy stocks most likely including master limited partnerships (MLPs).  The law offices of Gana Weinstein LLP continue to report on investor related losses and potential legal remedies due to recommendations to investor in oil and gas and commodities related investments.

The most recent claim was filed in June 2018 and alleges breach of contract, breach of fiduciary duty, violation of the Kentucky Consumer Protection Act, violation of Kentucky’s blue sky laws, and violation of the Illinois Consumer Fraud Act with respect to an over-concentration and losses in Breitburn Energy (BBEP) and that BBEP was unsuitable.  The claim alleges $42,791.95 in damages and is currently pending.

Our firm handles claims and is also investigating securities claims against brokerage firms over sales practices related to the recommendations of oil & gas and commodities products such as exchange traded notes (ETNs), structured notes, private placements, master limited partnerships (MLPs), leveraged ETFs, mutual funds, and individual stocks.

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shutterstock_143094109-300x200According to BrokerCheck records financial advisor William Heiden (Heiden), employed by Wedbush Securities Inc. (Wedbush), has been subject to nine customer complaints.  According to records kept by The Financial Industry Regulatory Authority (FINRA) Heiden has been accused by a customers of unsuitable investment advice concerning various investment products including energy stocks including master limited partnerships (MLPs).  The law offices of Gana Weinstein LLP continue to report on investor related losses and potential legal remedies due to recommendations to investor in oil and gas and commodities related investments.

The most recent claim was filed in June 2017 and alleges that Heiden, breach his fiduciary duty, committed violation of industry rules, and financial elder abuse causing $855,299.  The customer’s accounts were maintained at the firm from September 2013 to April 2017.  The claim is currently pending.  The broker has stated in defense of the claim that market conditions and the collapse of oil prices in 2014 and 2015, resulted in a loss of value of some stock and bond positions in the customer’s account.

In January 2017 a customer alleged that Heiden, that from March 2012 to February 2016, made unsuitable investments in the client accounts causing $950,718 in damages.  The claim is currently pending.