* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
Pursuant to the Claimant's Motion to Enforce Settlement, one named broker is held liable to said Claimant for damages including attorney fees under the terms of the settlement. Claimant also settles with Respondent broker-dealer and another named broker.
Notes
This is a Stipulated Award. All-Public Panel. Arbitrator Remarks.
People & Entities
Arbitrators
I. Douglas Dunipace, Esq. - Chair; W. Michael Kelley, Esq.; David S. Eisenberg
Broker-Dealers Named
Farmers Financial Solutions LLC
Professionals
Cs: David Liebrader, The Law Office of D. Liebrader Incorporated, Las Vegas, NV.
Rs: (FFSLLC) Jared L. Sutton, Lewis Roca et al., Phoenix, AZ. OSC.
Rs: (JMA) Paul A. Reynolds, Shustak Reynolds & Partners, San Diego, CA.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
In this settled award, one Arbitrator provides an explanation regarding his dissent from the majority of the Panel relating to Respondent broker's request for expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Arbitrator dissents with explanation.
Arbitrators
George King, Esq. - Chair; John J. Fitzpatrick, Jr., Esq. (Dissents); Robert James Wilkie
Broker-Dealers Named
Accelerated Capital Group; Coastal Equities Incorporated
Professionals
Cs: Deanna Besbekos-LaPage, Stoltmann Law Office, Barrington, IL.
Rs: (ACGp) Mark Stewart, M Stevens Wealth Advisors, Newport Beach, CA. ISC.
Rs: (CEInc) Erinn M. Maguire, Miles & Stockbridge, Baltimore, MD. OSC.
Rs: (SWR) Michael D. Shore, Shore Law Offices, Beverly Hills, CA.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
In this small claims arbitration, a customer alleging unauthorized trading with the respect to the purchase of Alpha Pro Tech stock, loses his case against Respondent broker-dealer.
Notes
Please Note* This case was administered under the Special Proceeding option for simplified cases.
Arbitrators
Jane C. Carney, CPA
Broker-Dealers Named
Charles Schwab & Company Incorporated
Professionals
Cs: Pro se.
Rs: (CS&CInc) Anthony L. Valenzuela, San Francisco, CA. ISC.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
A group of customers settle their claims against Respondent broker-dealer involving investments in REITs, master limited partnerships, and preferred stocks. A non-party broker is granted expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. Rescission Requested. Arbitrator Remarks -- Expungement granted.
Arbitrators
John P. Cullem, Esq.
Broker-Dealers Named
Newbridge Securities Corporation
Professionals
Cs: Kristian Kraszewski, Kyros Law, Miami, FL.
Rs: (NSCorp) Gregg J. Breitbart & Kevin Tragesser, Kaufman Dolowich & Voluck, Fort Lauderdale, FL. OSC.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
A registered representative loses his request for expungement of one customer complaint from appearing on his CRD record after the Director of FINRA determined that said request is not eligible for arbitration as it arises from a prior adverse award and is denied pursuant to FINRA Rule 13203(a). Said registered representative is also denied expungement of another complaint as well.
Notes
None.
Arbitrators
Lynn Hirschfeld Brahin, Esq.
Broker-Dealers Named
Citigroup Global Markets Incorporated
Professionals
Cs: (WDT) Robert L. Herskovits, Herskovits PLLC, New York, NY.
Rs: (CGMInc) Adam M. Kauff, Kauff Laton Miller LLP, New York, NY. OSC.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
An Arbitrator denies a broker's request for expungement of a customer complaint from appearing on his CRD record after the opposition from said customer.
Notes
Panel composition issue.
Arbitrators
Lynn Hirschfeld Brahin, Esq.
Broker-Dealers Named
Ausdal Financial Partners Incorporated
Professionals
Cs: (KRM) David A. Genelly, D.A. Genelly Limited, Chicago, IL.
Rs: (AFPInc) Daniel A. Hetzel, Kaufman Dolowich & Voluck LLP, Chicago, IL. OSC.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
In this unusual case, a customer and a broker alleging defamation and breach of duty of care lose their claims against Respondent registered representative. Respondent registered representative loses his Counterclaim against the broker alleging identity theft but is granted expungement of this matter from his CRD record despite the objection of Claimants.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Joseph Winter, Esq.
Broker-Dealers Named
None.
Professionals
Cs: Jimmy D. Epley, JD's Tax-Smart Wealth Management, Las Vegas, NV.
Cs: (JDE) None.
Rs: (PDK) Joanna M. Myers, Holley Driggs LLP, Las Vegas, NV.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
Claimant broker-dealer prevails on its breach of contract claim against Respondent broker. Respondent broker is held liable for damages including attorney fees pursuant to the parties' agreement.
Notes
Big $s. Arbitrator Remarks.
Arbitrators
James M. Rhodes - Chair; Anna Lascar; Robert J. Miller
Broker-Dealers Named
Jefferies LLC
Professionals
Cs: (JLLC) Andrew J. Shapren & Robert J. Fitzgerald, Buchanan Ingersoll & Rooney, Philadelphia, PA. OSC.
Rs: (JPS) Dennis Patrick Kelleher & Noam Greenspan, Talkin Muccigrosso & Roberts LLP, New York, NY.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
A broker is awarded compensatory damages from Respondent broker-dealer on his deferred compensation claim but loses his request for reformation of his Form U5 record.
Notes
None.
Arbitrators
Michael S. Lazan, Esq. - Chair; Ivan W. Harper, CPA; Douglas F. Stone, Esq.
Broker-Dealers Named
Barclays Capital Incorporated
Professionals
Cs: (DR) Barry Lax & Sandra Lahens, Lax & Neville LLP, New York, NY.
Rs: (BCInc) Ross E. Firsenbaum & Hallie Levin, Wilmer Cutler et al., New York, NY. OSC.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
A broker is held liable to Claimant broker-dealer for the amounts due and owing pursuant to a settlement agreement executed on behalf of a promissory note agreement.
Notes
Arbitrator Remarks.
Arbitrators
Mark H. Stein, JD - Chair; Larry Cheskawich; Edward T. Borer
Broker-Dealers Named
Ameriprise Financial Services LLC
Professionals
Cs: (AFSLLC) Scott A. La Porta & Ryan S. Nichols, Shumaker Loop & Kendrick LLP, Sarasota, FL. OSC.
* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."
Case Summary
A customer loses his claims against two Respondent broker-dealers involving his investment in Puerto Rican securities and closed-end bond funds. However, said customer is awarded monetary sanctions for Respondent broker-dealers various discovery violations and the spoliation of evidence throughout the course of the arbitration.
Cs: Peter J. Mougey & Michael Bixby, Levin Papantonio et al., Pensacola, FL and John F. Nevares, J.F. Nevares & Associates Attorneys-at-Law, San Juan, PR.
Rs: (OFSSInc & OFSCorp) Alfredo Fernandez Martinez & Pedro Hernandez-Freire & Carlos Baralt Suarez, Delgado Fernandez LLC, San Juan, PR. OSC.
Rs: (AXAALLC) Kevin W. Brooks, AXA Equitable Life Insurance Company, Charlotte, NC. ISC.
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