Dennis Haywood II, Formerly of Crown Capital Securities, Named in Multiple Customer Disputes Alleging Unsuitable Recommendations

Haywood has four pending customer disputes currently seeking over $800k in damages combined.

The Sonn Law Group is investigating allegations that Dennis Haywood II made unsuitable investment recommendations. If you or a family member has suffered losses investing, we want to discuss your case. Please contact us today for a free review of your case.

Dennis Haywood II (CRD#: 5850275) has been in the financial industry since 2010. He is currently an investment adviser with PurePath Wealth Management, where he has been employed since 2018. Additionally, Haywood is registered as a broker with Crown Capital Securities, where he has been employed since 2013.

Haywood has five disclosures on his BrokerCheck report.

May 2020 Customer Dispute

• Status: Pending
• Allegations: “The customer alleges violation of the fiduciary and suitability obligations as it relates to the purchase of non-traded REITs and non-traded BDC’s. Customer further alleges they were misled about the time horizon and projected performance return of the investments.”
• Damage Amount Requested: $167,357.75

May 2020 Customer Dispute

• Status: Pending
• Allegations: “The customer alleges violation of the fiduciary and suitability obligations as it relates to the purchase of non-traded REITs, non-traded BDCs and a Variable Annuity contract. They further allege that the representative made material misrepresentations about the risks, profitability and liquidity of the investments.”
• Damage Amount Requested: $250,000.00
• Broker Comment: “I feel the investments were suitable for my client because they matched their financial goals and needs at the time. We presented multiple investments to the client and educated her on the pros and cons of all of the investment options including lack of liquidity. The client chose the investments she felt matched her needs the best and we moved forward accordingly. I also dispute the allegation that the client, at the time of the complaint, has suffered a loss in her portfolio.”
  

April 2020 Customer Dispute

• Status: Pending
• Allegations: “The claimant alleges lack of suitability, breach of contract and lack of proper due diligence for four alternative investments purchased between April 2014 and April 2016.”
• Damage Amount Requested: $400,000.00
• Broker Comment: “I feel the investments were suitable for my client because they matched his financial goals and needs at the time he chose to invest in each investment. We presented multiple investments over the years to the client and educated him on the pros and cons of all the investment options including lack of liquidity. The client is very intelligent and he did his own research on the investments and then chose to invest if he felt they matched his goals and needs. Client passed on some investments through the years that he didn’t think matched his needs. I also dispute the allegation that the client, at the time of the complaint, has suffered a loss in his portfolio. At the time of filing the complaint the client has profits in his portfolio. The client and his attorney have valued the investments the client currently holds in his portfolio at no value, which is completely wrong.”

April 2020 Customer Dispute

• Status: Pending
• Allegations: “The claimant alleges lack of suitability, breach of contract and lack of proper due diligence for two alternative investments purchased April 2018.”
• Damage Amount Requested: $100,100.00
• Broker Comment: “I feel the investments were suitable for my client because they matched her financial goals and needs at the time she invested. We presented multiple investments to the client and educated her on the pros and cons of all the investment options including lack of liquidity. The client chose the investments she felt matched her needs the best and we moved forward, accordingly. I also dispute the allegation that the client, at the time of the complaint, has suffered a loss in her portfolio. In addition, I acted only in a supervisory role with this client and I am not on the applications at all in a representative capacity so I should not have my name associated with this action.”

Financial Judgment

• Status: Final
• Type: Compromise
• Disposition: Satisfied/Released

Contact Us Today

The Sonn Law Group is currently investigating allegations that Dennis Haywood II recommended unsuitable investments. We represent investors in claims against negligent brokers and brokerage firms. If you or your loved one experienced investment losses, we are here to help. For a free consultation, please call us now at 866-827-3202 or complete our contact form.