{"id":4784,"date":"2017-09-25T15:43:55","date_gmt":"2017-09-25T20:43:55","guid":{"rendered":"https:\/\/www.investorlawyers.com\/blog\/?p=4586"},"modified":"2017-09-25T15:43:55","modified_gmt":"2017-09-25T20:43:55","slug":"hilliard-lyons-ordered-pay-569k-allegedly-overconcentrating-accounts-breitburn-energy-partners","status":"publish","type":"post","link":"https:\/\/www.investorlawyers.com\/blog\/hilliard-lyons-ordered-pay-569k-allegedly-overconcentrating-accounts-breitburn-energy-partners\/","title":{"rendered":"Hilliard Lyons Ordered to Pay $569K For Allegedly Overconcentrating Accounts in Breitburn Energy Partners"},"content":{"rendered":"<p>\t\t\t\tA Financial Industry Regulatory Authority arbitration panel has ruled that Hilliard Lyons LLC must pay claimants Troy and Elizabeth Benitone $569K. Hilliard Lyons, the wealth investment firm is accused of overconcentrating the Benitones\u2019 accounts in Breitburn Energy Partners stock.<\/p>\n<p>The claimants, in their oil and gas fraud case, alleged breach of fiduciary duty, negligent misrepresentation and omission, common law fraud, breach of contract, and negligence supervision. The Benitones contend that Hilliard Lyons and its registered representative sold all of the claimants\u2019 blue chip stocks, investing the money that was in their joint account and in Troy\u2019s IRA in Breitburn. They lost $350K, with statutory damages at 10% on the purchase cost at $441K, from being over-concentrated in Breitburn.<\/p>\n<p>The Benitones believe that it was the lack of diversification in their investments that put them at high risk of loss, especially as they had conservative investment goals and could not handle much risk at all. Also, Hilliard Lyons was the underwriter for the Breitburn Energy Partners stock.<\/p>\n<p> <a href=\"https:\/\/www.investorlawyers.com\/blog\/hilliard-lyons-ordered-pay-569k-allegedly-overconcentrating-accounts-breitburn-energy-partners\/#more-4784\" class=\"more-link\">Continue Reading \u203a<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Financial Industry Regulatory Authority arbitration panel has ruled that Hilliard Lyons LLC must pay claimants Troy and Elizabeth Benitone $569K. Hilliard Lyons, the wealth investment firm is accused of overconcentrating the Benitones\u2019 accounts in Breitburn Energy Partners stock. The claimants, in their oil and gas fraud case, alleged breach of fiduciary duty, negligent misrepresentation [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[3798,3739,4047],"tags":[2893,2692],"class_list":["post-4784","post","type-post","status-publish","format-standard","hentry","category-arbitration","category-finra","category-oil-and-gas-claims","tag-breitburn","tag-hilliard-lyons"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Hilliard Lyons Ordered to Pay $569K For Allegedly Overconcentrating Accounts &#8212; Investor Lawyers Blog<\/title>\n<meta name=\"description\" content=\"A FINRA arbitration panel has ruled that Hilliard Lyons LLC must pay $569K for overconcentrating accounts in Breitburn Energy Partners.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.investorlawyers.com\/blog\/hilliard-lyons-ordered-pay-569k-allegedly-overconcentrating-accounts-breitburn-energy-partners\/\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:title\" content=\"Hilliard Lyons Ordered to Pay $569K For Allegedly Overconcentrating Accounts &#8212; 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Investor Lawyers Blog","twitter_description":"A FINRA arbitration panel has ruled that Hilliard Lyons LLC must pay $569K for overconcentrating accounts in Breitburn Energy Partners.","twitter_misc":{"Written by":"Shepherd Smith Edwards &amp; Kantas, LLP","Est. reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.investorlawyers.com\/blog\/hilliard-lyons-ordered-pay-569k-allegedly-overconcentrating-accounts-breitburn-energy-partners\/#article","isPartOf":{"@id":"https:\/\/www.investorlawyers.com\/blog\/hilliard-lyons-ordered-pay-569k-allegedly-overconcentrating-accounts-breitburn-energy-partners\/"},"author":{"name":"Shepherd Smith Edwards &amp; Kantas, LLP","@id":"https:\/\/www.investorlawyers.com\/blog\/#\/schema\/person\/e0240e0754684b69f7d6a7de1b9f1431"},"headline":"Hilliard Lyons Ordered to Pay $569K For Allegedly Overconcentrating Accounts in Breitburn Energy Partners","datePublished":"2017-09-25T20:43:55+00:00","mainEntityOfPage":{"@id":"https:\/\/www.investorlawyers.com\/blog\/hilliard-lyons-ordered-pay-569k-allegedly-overconcentrating-accounts-breitburn-energy-partners\/"},"wordCount":426,"keywords":["Breitburn","Hilliard Lyons"],"articleSection":["Arbitration","FINRA","Oil and Gas Claims"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.investorlawyers.com\/blog\/hilliard-lyons-ordered-pay-569k-allegedly-overconcentrating-accounts-breitburn-energy-partners\/","url":"https:\/\/www.investorlawyers.com\/blog\/hilliard-lyons-ordered-pay-569k-allegedly-overconcentrating-accounts-breitburn-energy-partners\/","name":"Hilliard Lyons Ordered to Pay $569K For Allegedly Overconcentrating Accounts &#8212; 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