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Do You Have Suitability Concerns Due to Recommendations by Crown Capital Securities, L.P. Broker Dennis Haywood?

Posted on Tuesday, June 23rd, 2020 at 8:54 pm    

Crown Capital Securities

Erez Law is currently investigating Crown Capital Securities, L.P. broker Dennis Haywood (CRD# 5850275) regarding unsuitable recommendations regarding non-traded REITs, non-traded BDCs and variable annuities. Haywood has been registered with Crown Capital Securities, L.P. in Land O’ Lakes, Florida since 2013.

Haywood has been the subject of three customer complaints in 2020, according to his CRD report:

May 2020. “The customer alleges a violation of fiduciary and suitability obligations as it relates to the purchase of non-traded REITs, non-traded BDCs and a Variable Annuity contract. They further allege that the representative made material misrepresentations about the risks, profitability and liquidity of the investments.” The customer is seeking $250,000 in damages and the case is currently pending. The complaint was regarding variable annuities, non-traded real estate investment trusts (REITs) and non-traded business development companies (BDCs) and took place while Haywood was registered with Crown Capital Securities, L.P.

April 2020. “The claimant alleges lack of suitability, breach of contract and lack of proper due diligence for four alternative investments purchased between April 2014 and April 2016.” The customer is seeking $400,000 in damages and the case is currently pending. The complaint was regarding direct investments, non-traded REITs and non-traded BDCs and took place while Haywood was registered with Crown Capital Securities, L.P.

April 2020. “The claimant alleges lack of suitability, breach of contract and lack of proper due diligence for two alternative investments purchased April 2018.” The customer is seeking $100,100 in damages and the case is currently pending. The complaint was regarding direct investments and took place while Haywood was registered with Crown Capital Securities, L.P.

Pursuant to FINRA Rules, member firms are responsible for supervising a broker’s activities during the time the broker is registered with the firm. Therefore, Crown Capital Securities, L.P. may be liable for investment or other losses suffered by Haywood’s customers.

Erez Law represents investors in the United States for claims against brokers and brokerage firms for wrongdoing. If and have experienced investment losses, please call us at 888-840-1571 or complete our contact form for a free consultation. Erez Law is a nationally recognized law firm representing individuals, trusts, corporations and institutions in claims against brokerage firms, banks and insurance companies on a contingency fee basis.