Hugh Ordway Barndollar III (aka Hobby Barndollar), a broker and investment adviser is the subject of multiple customer dispute disclosures instituted on the allegations of unsuitable investment recommendations, negligence and misrepresentation among others, according to an investigation by lawyer Alan Rosca.
Investor lawyer Alan Rosca, of Rosca Scarlato LLC law firm is investigating conduct related to the multiple customer dispute disclosures involving Hugh O. Barndollar. Concerned investors who would like to learn more about the investigation or who believe they suffered losses are encouraged to contact attorney Rosca by calling 888-998-0530, via email at arosca@rscounsel.law, or by leaving a message though the contact form on this page.
Hugh Barndollar is currently registered with Crown Capital Securities, L.P as a broker. He has been registered with the firm since March 19, 2013. He is also registered with both Purepath Wealth Management and Crown Capital Securities, L.P as an investment adviser.
All firms are member firms of the Financial Industry Regulatory Authority (FINRA). He was registered with these firms when he allegedly carried out the acts leading to the aforementioned allegations.
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Hugh Barndollar Is the Subject of Multiple Customer Dispute Disclosures
Publicly available information reviewed by investor lawyer Alan Rosca showed that as of the date of this article, Hugh Ordway Barndollar III has five customer dispute disclosures initiated between January 2020 and August 2020 as reported on his FINRA brokercheck page.
The earliest customer dispute was initiated on January 17, 2020 according to the Brokercheck reports. In this dispute, the client alleges the lack of suitability in connection with the investments recommended. The client further alleged the breach of contract and lack of proper due diligence for two alternative investments purchased in April 2018. As a result of this, the client is requesting $100,100 in damages.
The next customer dispute disclosure was initiated on similar allegations. The dispute was instituted on June 1, 2020, on the allegation that the investment recommended lacked proper due diligence and it was unsuitable. The client also alleged the breach of fiduciary duty, all in connection with the purchase of illiquid alternative investments. The client is seeking to recover $125,000 in damages.
Another customer dispute which was initiated on July 2, 2020 was based on the allegations of the lack of adequate due diligence, negligence and misrepresentations and omissions of material facts in regards to transactions in a non-traded Real Estate Investment Trust (REIT). The alleged damages are unspecified, but expected to exceed $5,000, FINRA reports.
On similar allegations, another dispute was instituted in August 2020. In this dispute, the client also alleged misrepresentations, negligence and omission of material facts in regards to transactions in alternative and variable annuity investments.
The latest customer dispute involving Hugh Ordway Barndollar III was initiated on August 26, 2020. The customer in this dispute alleged unsuitability of investments, negligence, misrepresentations and omissions of material facts in regards to transactions on non-traditional, alternative and/or non-traded REIT investments. The amount of damages sought in this dispute was not disclosed but it is expected to exceed $5,000.
Hugh Barndollar Has Two Customer Dispute Disclosures Reported As Settled
A settlement in a customer dispute involving Hugh Barndollar was reached on May 20, 2020. The customer alleged negligence in the handling of their account and the recommendation of financial investments. The customer also alleged the breach of fiduciary duty and negligent supervision by the firm in allowing the broker to conduct inadequate due diligence. The customer initially requested $100,000 in damages but the dispute was eventually settled for $30,000.
Hugh Barndollar was involved in another dispute that settled in August 2011. The client also made allegations of negligence, fraud, misrepresentation and breach of fiduciary duty. The client initially sought to recover $124,8000 in damages but the dispute was settled for $47,500.
Finally, it is important to note that, as of the date of this article, there has not been a finding of liability as to the complaints or allegations mentioned in this article, unless otherwise indicated. Any reader should also read the original sources hyperlinked in this blog for accuracy, including any BrokerCheck report and/or record of any disciplinary or regulatory action. Those sources are incorporated by reference into the text of this blog, and are the governing materials in case of any inconsistencies or typos in this blog.
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Investor Lawyers Are Evaluating Options on Behalf of Barndollar Investors
The lawyer for investors of the Rosca Scarlato LLC law firm expertly advise and represents investors who are victims of broker or investment-related fraud and other misconducts and is currently investigating conduct related to Hugh Barndollar’s multiple customer dispute disclosures making allegations of unsuitability, negligence and misrepresentations among others.
It is important to note that the firm takes most cases of this type on a contingency fee basis and advances the case costs, and only gets paid for their fees and costs out of money recovered for clients. Attorney Alan Rosca, a securities lawyer and adjunct professor of securities regulation, has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.
Concerned you lost money as a result of misconducts related Hugh Barndollar? Contact attorney Alan Rosca for a free, no-obligation evaluation of their recovery options, at 888-998-0530, via email at arosca@rscounsel.law, or through the contact form on this webpage.