Millions of Dollars in Allegations Denied Thanks to Managing Attorney, Bessette

Experience Matters When Choosing an Investment Fraud Attorney

Michael Bessette, Managing Attorney with HLBS Law, recently secured a win for his clients, which resulted in all claims being denied. A dispute by former investing customers was filed in the American Arbitration Association (“AAA”) against Mr. Bessette’s clients, a Registered Investment Adviser firm and an individual financial advisor, requesting damages over $2.8 million. This was requested due to allegations of breach of fiduciary duty, negligence, negligent investment advice, breach of contract, misrepresentation, fraud, failure to supervise, unsuitable investment recommendations, and violations of the state’s securities laws. The allegations involved alternative investments and venture capital products that lost money. 

At the final hearing, although evidence was presented that the performance of the alternative investments was not what the customers were hoping for, the panel found that the customers were advised of the risks associated with these investments, and that there was no evidence to support any of the customers’ claims. The panel denied the customers’ claims of over $2.8 million in its entirety. 

Mr. Bessette’s clients previously retained an attorney that did not have industry dispute experience on a prior case involving similar claims and investment products by another former investor that did not end well. Experience matters. Please reach out to us today for a free consultation.

Photo by: Mackenzie Marco