JJB Hilliard, WL Lyons broker Michael Barnett is the subject of numerous
customer complaints alleging breach of fiduciary duty, negligence, negligent
misrepresentation and omission, breach of contract, common law fraud, and more.
According to the
FINRA report (PDF), claimants alleged that Barnett sold all of their blue chip stocks and
invested the proceeds, along with funds from a joint account and an IRA
into Breitburn Energy. The highly speculative oil and gas company filed
for bankruptcy in 2016, and allegations claim that the overconcentration
of funds in the unsuitable investment exposed clients to substantial risks,
ultimately causing them to suffer significant losses.
Barnett is currently registered at JJB Hilliard, WL Lyons and has spent
eight years working in the securities industry.
Did You Lose Money While Investing with Michael Barnett?
When brokers like Barnett participate in this type of misconduct, investors
may be able to recover their losses through FINRA arbitration. If you
suffered financial losses while working with Michael Barnett, the investment
fraud attorneys at Meyer Wilson would like to hear from you. Give our
office a call at (888) 390-6491 to
start out with a free case consultation.