Investors might have sustained losses because of securities broker Scot Barringer [CRD: 1385168, San Clemente, California], according to disclosures on FINRA BrokerCheck. Evidently, Barringer joined American Trust Investment Services Inc. on July 22, 2020, and Chicago Capital Management Advisors LLC on July 23, 2020. Previously, he worked for Westpark Capital Inc. from 2016 to 2020. Keep reading to learn more about Barringer’s disclosures.
Westpark Capital Inc. Investor Accused Barringer Of Breach Of Fiduciary Duty, Negligence
Specifically, on January 4, 2023, a Westpark Capital Inc. client filed FINRA Arbitration: 23-00038 about Scot Barringer. Notably, the claim alleged breach of fiduciary duty, violation of state securities laws, negligence, negligent misrepresentation, breach of contract, and failure to supervise. Because of this, the client allegedly sustained damages on GWG products. For this reason, the client requested $70,000 in compensation from Westpark Capital Inc. or Barringer. Evidently, this arbitration is pending a resolution.
Scot Barringer Disclosed Misrepresentation And Unsuitable Recommendations Allegations By Client
Particularly, a client of Westpark Capital Inc. contested Scot Barringer’s sales practices by filing FINRA Arbitration: 22-02057 on September 13, 2022. Allegedly, Barringer made misrepresentations and provided unsuitable recommendations regarding GWG L Bonds to the client, which were not aligned with the client's investment objectives. It appears that Barringer caused the client to sustain damages on alternative investments. Consequently, the client seeks compensatory relief from Westpark Capital Inc. or Barringer.
Westpark Capital Inc. Investor Accused Barringer Of Omissions
Additionally, a Westpark Capital Inc. client filed FINRA Arbitration: 22-01829 about Scot Barringer. Supposedly, Barringer made unsuitable recommendations and omitted material facts related to L Bonds issued by GWG, who filed for Chapter 11 bankruptcy. Because of this, the investor apparently experienced damages. As a result, on September 18, 2023, Westpark Capital Inc. settled this matter by paying the client $14,999 in damages.
Investor Accused Scot Barringer Of Unsuitable Recommendations
Evidently, a client filed a complaint about Scot Barringer. Supposedly, Barringer made unsuitable recommendations about GWG products. For this reason, on September 15, 2022, Westpark Capital Inc. settled this matter by paying the client $50,000 in damages.
Barringer Disclosed Unsuitable Advice Allegations By Newport Coast Securities Inc. Client
Also, a client of Newport Coast Securities Inc. contested Scot Barringer’s sales practices, according to a complaint. Allegedly, Barringer made unsuitable recommendations of private placements. Therefore, Newport Coast Securities Inc. opted to settle the matter on December 27, 2013, by compensating the client in the amount of $70,000.
Did You Sustain Losses Because Of Securities Broker Scot Barringer?
Did you experience losses because of Scot Barringer? If so, reach out to Soreide Law Group online or at (888) 760-6552 and talk with a securities attorney concerning a potential recovery of your investment losses. Soreide Law Group has recovered losses for investors throughout the United States, works on a contingency fee basis, and advances all costs. Barringer and brokerage firms he worked for deny accusations of sales practice violations.
