Hennion & Walsh is a financial services firm that has been sued by investors for making unsuitable investment recommendations. The lawsuits allege that the firm’s brokers recommended high-risk investments to clients who were not suitable for them, resulting in significant losses.
One of the most well-known cases against Hennion & Walsh is the case of William Hennion, a former vice president of the firm. Hennion was accused of making unsuitable recommendations to clients, including recommending municipal bonds that were illiquid and difficult to sell. In 2018, Hennion was ordered to pay $125,000 in damages to one of his clients.
Another case against Hennion & Walsh is the case of Marc Strafaci, a former broker with the firm. Strafaci was accused of recommending high-risk investments to clients without fully explaining the risks involved. In 2019, Strafaci was ordered to pay $84,000 in damages to one of his clients.
These are just a few of the lawsuits that have been filed against Hennion & Walsh. The firm has also been the subject of regulatory investigations by the Securities and Exchange Commission (SEC).
If you have lost money due to an investment recommendation made by Hennion & Walsh, you may be able to file a lawsuit. You should speak to an attorney to discuss your legal options.
Here are some of the common allegations in lawsuits against Hennion & Walsh:
- Making unsuitable investment recommendations
- Failing to disclose risks involved in investments
- Churning accounts
- Charging excessive fees
If you have been a victim of investment fraud, you should contact an attorney to discuss your legal options. You may be able to recover your losses and obtain compensation for other damages, such as emotional distress.
