Soreide Law Group Files Lawsuit Against HENNION & WALSH INC.

The Soreide Law Group, with co-counsel Kristian Kraszewski, Esq., recently filed a FINRA arbitration on behalf of their client against the broker/dealer, HENNION & WALSH INC.
The Claimant who is retired and in her sixties, also suffers from a multitude of health issues and hearing loss. The primary goal of her investments were to preserve her capital and live off the income generated from investments to sustain her through retirement. The Claimant trusted her relationship with HENNION & WALSH INC. She had advised them that she did not want to take any unnecessary risks because her retirement savings cannot be replaced.
The Claimant alleges that HENNION & WALSH INC. concentrated her portfolio in a variety of high risk investments which included Puerto Rico bonds, a proprietary Smart UIT, master limited partnerships, and high yield gold and oil company investments. As a result, she suffered substantial losses of investment principal. The Claimant’s demand judgment against HENNION & WALSH INC. is for compensatory damages of $75,000, plus interest, costs, and attorney’s fees.
Since at least 2006, Puerto Rico has been in a recession and their economy has been struggling with low growth, high unemployment, rising debt, and declining population, tax base, tourism and GDP, as well as a host of other macroeconomic problems causing a huge loss in the Puerto Rico bond market.
The lawsuit alleges claims of negligence, breach of fiduciary duty, and negligent supervision.
If you were also a client of HENNION & WALSH INC. and had been placed in large concentrated positions in highly risky stocks, such as Puerto Rico bonds, call Soreide Law Group for a no-cost consultation regarding your losses at: (888) 760-6552.
 
The Soreide Law Group handles cases nationwide before FINRA and we work on a contingency fee.