The firm of J.J.B. Hilliard, W.L. Lyons, LLC was investigated by FINRA for breach of fiduciary duty; negligence, negligent supervision and other securities violations. In a case involving J.J. B. Hillard’s registered representative, all of Claimants’ blue chip stocks were sold and invested in funds of highly speculative oil and gas company known as Breitburn Energy Partners Limited Partnership. This lack of diversification exposed them to massive risk which was contrary to their conservative investment objectives and low risk. Claimants were awarded $450,000 in compensatory damages and $100,000 punitive damages.
The investor claims lawyers of McCarthy Lebit are investigating J.J.B. Hilliard, W.L. Lyons, LLC. If you lost money due to J.J.B. Hilliard, W.L. Lyons, LLC, please contact our office at 1-866-932-1295.
Hugh Berkson is a Securities Attorney with McCarthy, Lebit, Crystal & Liffman, Co. LPA with over 20 years of representing individuals who have lost money due to the negligence of investors and brokers.
Hugh is a past President of the Public Investors Arbitration Bar Association (PIABA), an international legal association composed of practitioners who represent investors in disputes with the securities industry. He was also just re-elected to PIABA’s Board of Directors, where he has served as a director since 2011.
