Michael Barnett (CRD#: 5792242) is a registered FINRA broker and investment advisor. Since 2012, Mr. Barnett has been a securities representative at J.J.B. Hilliard, W.L. Lyons, working out of a branch office in Marion, Illinois. In the last two years, FINRA reports that six investment complaints have been filed against J.J.B. Hilliard, W.L. Lyons Broker Michael Barnett. In this article, our securities fraud attorneys provide a brief overview of these customer complaints.
Customer Disputes: Michael Barnett
Between June of 2016 and June of 2018, six investor complaints were filed against broker Michael Barnett. Investors have raised the following allegations of misconduct:
- Breach of fiduciary duty, material misrepresentations, and negligent supervision in relation to the sale of oil & gas securities. This case went before a FINRA arbitration panel in St. Louis, Missouri and the investor was issued a $441,338.73 compensatory award.
- Unauthorized trading and unsuitable investments: This customer complaint is still pending.
- Material misrepresentations and unsuitable investments: This customer complaint is pending and the investor is seeking $1.5 million in damages.
- Breach of fiduciary and broker negligence: This complaint is still pending, and the customer is seeking $60,000 in compensation.
- Over-concentration of investments in Breitburn Energy (BBEP): This case is still pending, and the customer is seeking $30,737.61.
- Over-concentration of investments in Breitburn Energy (BBEP): This claim is still pending, and the customer is seeking $$42,791.95.
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