Brookstone Securities

Napoli Bern Ripka LLP is currently seeking clients who have incurred losses due to mismanagement of assets by Brookstone Securities and its representative, Richard Buswell. Buswell allegedly grossly overstated clients’ potential earnings, received higher than expected commissions, and convinced clients to invest in companies from which he received commissions. Buswell is also accused of making high risk investments for investors whose money should have been invested conservatively. He allegedly told clients he could guarantee 8 percent returns if they switched from their other financial advisers where they received only 4 percent. In addition, Buswell allegedly promised clients losses of no more than 5 percent while assuring clients they could expect significant incomes from their investments.

Instead, Buswell made extremely risky investments that resulted in losses of 50 percent to 75 percent in a matter of months. The funds were concentrated in national banks and in financial stocks during an economic downturn and amid news of numerous bank failures, along with other highly risky investments.

Investors have also filed complaints against Buswell over the sale and marketing of private placement units in Advanced Blast Protection. The company’s clients were supposed to receive principal payments last year but ABP defaulted. As a result, investors were left with illiquid investments.

Securities litigation of this kind is highly complex. The attorneys at Napoli Bern Ripka have experience litigating hundreds, if not thousands, of cases involving investment losses due to fraud and mismanagement by asset management firms. If you are an institutional investor, such as an endowment or pension fund, or an individual, please do not hesitate to contact us today to discuss your potential claim against Brookstone Securities.