Richard Wilson Hartnett Allegedly Engaged in Acts of Unsuitability, with Damages of $87K, $235K and $210K Requested, Respectively

Richard Wilson Hartnett allegedly engaged in acts of unsuitability, and purportedly executed excessive trades from 2010 to 2013, to generate commission, according to a Settled Customer Dispute filed on Hartnett’s FINRA BrokerCheck Report under review by investor rights attorney Alan Rosca.

The aforementioned dispute was filed on May 25, 2016, FINRA states, and damage amounts of $87,500.00 were requested and settled. 

A second settled customer dispute alleges, inter alia, that the investments purchased in the account by Hartnett of his client from 2009 to 2015 were unsuitable, according to a Settled Customer Dispute filed on Hartnett’s FINRA BrokerCheck Report on February 3, 2016. The Damage Amount Requested was $1,037,960.00, and the claim was settled for $235,263.70, FINRA reports.

Hartnett also allegedly, inter alia, engaged in unsuitability and misrepresentation with respect to investment transactions in account from January 2011 to February 2014, according to a Settled Customer Dispute filed on Hartnett’s FINRA BrokerCheck Report on April 24, 2015. The Damage Amount Requested was $1,800,000.00, and the claim was settled for $210,000.00, FINRA reports.

Investor rights attorney Alan Rosca, of the Goldman Scarlato & Penny PC law firm, is investigating activity related to Richard Hartnett’s alleged unsuitable investment recommendations. Investors who believe they may have lost money in activity related to Richard Hartnett’s alleged unsuitable investment recommendations are encouraged to contact attorney Alan Rosca with any useful information or for a free, no obligation discussion about their options.

Richard Hartnett Suspended by FINRA for Failure to Comply with the Arbitration Filed by  Morgan Stanley & Morgan Stanley Smith Barney FA

Richard Wilson Hartnett allegedly failed to comply with an arbitration award or settlement agreement filed by Morgan Stanley and Morgan Stanley Smith Barney FA, or to satisfactorily respond to a FINRA request to provide information concerning the status of compliance, FINRA notes.

Hartnett, as a result of the aforementioned alleged behavior, purportedly violated FINRA Rules, and thus has been suspended indefinitely until required payment is made or discharged, FINRA notes.

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 mentioned in this article, unless otherwise indicated.

Securities Lawyer Investigating

The Goldman Scarlato & Penny PC law firm represents investors who lose money as a result of investment-related fraud or misconduct and are currently investigating Richard Hartnett’s alleged unsuitable investment recommendations. The firm takes most cases of this type on a contingency fee basis and advance 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, and has represented thousands of victimized investors across the country and around the world in cases ranging from arbitrations to class actions.

Investors who believe they lost money as a result of Richard Hartnett’s alleged unsuitable investment recommendations may contact attorney Alan Rosca for a free no-obligation evaluation of their recovery options, at 888-998-0530, via email at rosca@lawgsp.com, or through the contact form on this webpage.

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In our legal system, every person is innocent until and unless found guilty by a court of law or a tribunal. Whenever we reference “allegations” or charges that are “alleged,” such allegations or charges have not been proven, and are merely accusations, not findings of fault, as of the date of the blog. We do not have, nor do we undertake, a duty to continue to monitor or follow cases about which we report, and/or to publish subsequent updates regarding various developments that may occur in such cases. Readers are encouraged to conduct their own research regarding any such cases and any developments that may or may not have occurred in such cases. Also, the brokercheck report linked to some of our blogs is the up-to-date version as of the date of posting. Visitors may check the most recent version of each brokercheck report at www.finra.org.