Securities Lawyers Blog
The law offices of Gana Weinstein LLP are currently investigating claims that advisor Kieth Baron (Baron) has been accused by The Financial Industry Regulatory Authority (FINRA) of engaging in undisclosed outside business activities (OBAs) and private securities transactions. According to records kept by FINRA, Baron was last employed by Equity Services, Inc. (Equity Services) through January 2022. According to BrokerCheck, Baron has 11 disclosures on his record including two regulatory actions, two financial disclosures, one employment termination, and six customer complaints. If you have been a victim of Kieth’s alleged misconduct our firm may be able to assist you in recovering funds.
According to FINRA, Baron was named in a FINRA complaint alleging that he made material misrepresentations to investors in connection with his recommendation of a Company stock. The FINRA complaint alleges Baron failed to disclose to the couple that he was a consultant for the Company. FINRA is also claiming that Baron later made additional material false statements to an investor in connection with a buyback of the couple’s shares of the Company.
The complaint also alleges that Baron had an ongoing business relationship with Company A. Baron expected to receive compensation and received $284,890 in compensation from Company A. FINRA found Baron failed to provide prior written notice to his member firm concerning his business relationship with Company A. The complaint further alleges that Baron participated in private securities transactions by recommending investors purchase 4,348,000 shares of Company A’s common stock for $359,806. According to FINRA, Baron failed to provide written notice to his firm of his role in the sale of Company A’s common stock prior to participating in the sale.