Couple Awarded $550,000 For Losses on Breitburn Energy Investments-St. Louis

September 2017-St. Louis, MO

A FINRA arbitration panel ordered J.J.B. Hilliard, W.L. Lyons to pay a couple $450,000 in compensatory damages, $100,000 in punitive damages and costs of over $18,000. The couple alleged that the firm and broker sold all of their blue chip stocks and invested all of the funds in a highly speculative oil and gas company, Breitburn Energy Partners Limited.

The couple contended that the lack of diversification exposed them to massive risk which was contrary to their conservative investment objectives and risk tolerance. Benitone, et al vs. J.J.B. Hilliard, W.L. Lyons, LLC, FINRA Case 16-01819. 

Stockbrokers have a duty to make recommendations that are suitable in light of your age, health and level of financial sophistication. Brokers are required to make recommendations that comply with your stated investment objectives and risk tolerance.

Many investors have suffered significant losses in oil and gas and other energy related investments over recent years. If you have questions about losses on energy investments, call for a no charge consultation.

Rex Securities Law , with offices in Boca Raton, FL,  and  Austin, TX,   provides representation to  investors  nationwide who are seeking recovery of investment losses due to the negligence or fraud of stockbrokers and broker dealers. If you have questions about how your account has been handled, call to speak with an experienced securities attorney.

Most cases handled on a contingent fee basis meaning that you do not pay legal fees unless we are successful.

Rex Securities Law

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