Christopher Duke Bennett of Louisville Kentucky is a stockbroker currently registered with J.J.B. Hilliard W.L. Lyons LLC who is the subject of a customer initiated investment related arbitration claim in which the customer requested five million dollars in damages based upon allegations of (1) suitability (2) misrepresentation and (3) breach of fiduciary duty pertaining to the customer’s oil and gas investments. Financial Industry Regulatory Authority (FINRA) Arbitration No. 18-00200 (Jan. 26 2018).
FINRA Public Disclosure confirms that Bennett has been identified in five more customer initiated investment related disputes concerning accusations of Bennett’s improper conduct while employed with J.J.B. Hilliard, W.L. Lyons, LLC. Specifically, on October 25, 2016, a customer filed an investment related written complaint involving Bennett’s conduct where the customer sought damages estimated at $5,000.00 based upon allegations that the customer’s investment portfolio of stock and over-the-counter equities poorly performed.
Thereafter, on July 7, 2017, a customer filed an investment related written complaint pertaining to Bennett’s conduct in which the customer requested $5,000.00 in damages founded on accusations that equity trades were executed in the customer’s account on an unsuitable basis, wherein the customer’s risk tolerance was not properly assessed. The customer additionally alleged that trades were not authorized by the customer, and fiduciary duties owed to the customer had been breached. Further, a customer filed an investment related arbitration claim involving Bennett’s conduct in which the customer sought $311,455.00 in damages supported by allegations that Bennett over-concentrated the customer’s assets in speculative securities, failing to diversify the customer’s holdings. FINRA Arbitration No. 17-02011 (Aug. 7, 2017).
Subsequently, a customer was awarded $445,000.00 in compensatory damages according to an investment related arbitration claim based upon findings that Bennett effected unsuitable and unauthorized transactions in the customer’s account, failed to discuss investment risk with the customer before allocating her assets among investments, and traded in the customer’s retirement accounts on an excessive basis. The customer’s causes of action included the violation of Kentucky statutes, negligent supervision, failure to supervise, omissions and misrepresentation, churning, suitability, unauthorized trading, breach of fiduciary, and violations of FINRA Rules 3110, 2111, 2090, 2020 and 2010. FINRA Arbitration No. 17-00750 (Feb. 16, 2018).
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