Update: Michael Barnett Receives Investor Complaints Over Breitburn Energy

Michael BarnettPublicly available records published by the Financial Industry Regulatory Authority (FINRA) and accessed on July 16, 2018 indicate that Illinois-based JJB Hilliard WL Lyons broker/adviser Michael Barnett has received new pending customer disputes. Fitapelli Kurta is interested in speaking to investors who have complaints regarding Mr. Barnett (CRD# 5792242).

Michael Barnett has spent eight years in the securities industry and has been registered with JJB Hilliard WL Lyons in Marion, Illinois since 2012. He was previously registered with Edward Jones in Herrin, Illinois (2010-2012). He is a registered broker and investment adviser with 32 US states and territories and with three self-regulatory organizations: FINRA, NYSE American LLC, and the New York Stock Exchange.

According to his BrokerCheck report, he has received one customer complaint and five pending customer complaints.

In June 2018 a customer alleged Michael Barnett, while employed at JJB Hilliard WL Lyons, breached contract, breached his fiduciary duty, violated the Kentucky Consumer Protection Act, violated Kentucky’s blue sky laws, and over-concentrated the account in unsuitable investments in Breitburn Energy, which suffered losses. The customer is seeking more than $42,700 in damages in the pending complaint.

In June 2018 a customer alleged Michael Barnett, while employed at JJB Hilliard WL Lyons, breached contract, violated Kentucky laws, breached his fiduciary duty, and over-concentrated the account in unsuitable investments in Breitburn Energy. The customer is seeking more than $30,700 in damages in the pending complaint.

In May 2018 a customer alleged Michael Barnett, while employed at JJB Hilliard WL Lyons, violated the Illinois Securities Act, breached contract, committed fraud, breached his fiduciary duty, and was negligent in his supervisory duties. The customer is seeking $60,000 in damages in the pending complaint.

In 2017 a customer alleged he, while employed at JJB Hilliard WL Lyons, made unsuitable investment recommendations, misrepresentations of material facts, and unauthorized transactions. The customer is seeking $1,500,000 in damages in the pending complaint.

In 2016 a party of customers alleged he, while employed at JJB Hilliard WL Lyons, breached his fiduciary duty, breached contract, misrepresented material facts, and failed to diversify the joint account, exposing the customers to “massive risk.” The complaint resulted in an award to the customer of $568,399.

If you have lost money investing with Michael Barnett, you may be entitled to recoup your losses. Call Fitapelli Kurta at 877-238-4175 for a free consultation. All cases are taken on a contingency basis, which means we only get paid if and when you collect money. Time to file your claim may be limited, so we encourage you to avoid delay. Call 877-238-4175 now to speak to an attorney for free.