In 2010, a handful of firms came together to form Lion Street Financial, LLC (“Lion Street Financial”). Lion Street Financial is a broker-dealer headquartered in Austin, Texas. It is a subsidiary of Lion Street, LLC and is run by President and CEO, John Fredrick Burmeister II. Lion Street Financial brokers are licensed in all 50 states as well as the District of Columbia and the U.S. Virgin Islands.
Financial Misconduct at Lion Street Financial, LLC
Lion Street Financial is licensed by the Financial Industry Regulatory Authority (FINRA), and as such is legally obligated to ensure its brokers are acting lawfully in the interest of their investors. If a client suffers losses as a result of negligent behavior or misconduct from a broker, then the firm may be held legally responsible to repay the damages.
Lion Street Financial and brokers backed by Lion Street Financial have been accused of investment misconduct. For example, one claim is pending against Guy Anthony Harrigan, a registered representative with Lion Street Financial. The claimant has alleged that cehghrtain alternative investment recommendations that Harrigan made to them, such as GPB private placements, were unsuitable and that their portfolio was overconcentrated in high-risk investments (for example, real estate investment trusts). Several brokerage firms, including Lion Street Financial, sold GPB to its customers amidst allegations that GPB had so many red flags associated with it, it should never have been approved for sale. Investors in GPB have suffered many millions of dollars of losses.
This is just one complaint of those made by customers of Lion Street Financial.
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Meyer Wilson reclaimed $350 million for the victims of investment fraud or misconduct. Our attorneys are experienced in going up against the largest investment firms, such as Lion Street Financial, LLC, and our track record affirms our resources and expertise. Meyer Wilson has represented clients nationwide and internationally, in state and federal courts, and in securities arbitration. As an investor, you have a right to recover investments lost through unethical behavior or decisions made against your interests.