UPDATE : ARBchek

This Report is a product of Securities Arbitration Commentator, Inc.

New Award Briefs

Report Dated: 2018-10-16

2018-37

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

EmployeeEmployee

Allegation I

Defamation

Short Caption

LaFerrera v. Johnson

Allegation II

Fraud

Forum

FINRA

Allegation III

Forgery

Docket No

17-02145

Products

NP

Issue Date

2018-09-25

Situs

Birmingham

State

AL

Clmd Compensatory

0.0

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

0.0

Attorney Fees Awarded

* 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's request for Reformation of his Form U-5 and claim of tortious interference against another broker are denied by the Panel.

Notes

None.

People & Entities

Arbitrators

Daniel T. Hull, Jr. - Chair; Debra Black Leo; Donald Milo Helton

Broker-Dealers Named

None.

Professionals

  • Cs: (BAL) Jessica LaFerrera, Tuscaloosa, AL.
  • Rs: (ALJ) Matthew I. Penfield & Carole G. Miller, Bressler Amery & Ross, Birmingham, AL.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Roussell v. Raymond James

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-00396

Products

MutualFunds

Issue Date

2018-09-24

Situs

Birmingham

State

AL

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 wins expungement of two arbitration cases and a customer complaint involving the Regions Morgan Keegan Family of Funds and a civil litigation matter involving a family dispute from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Harvey R. Linder, Esq.

Broker-Dealers Named

Raymond James & Associates Incorporated

Professionals

  • Cs: (JRR) Donald F. Winningham III, Bressler Amery & Ross, Birmingham, AL.
  • Rs: (RJ&AInc) Brandy Pikus, Raymond James Financial Incorporated, St. Petersburg, FL. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Mette v. Morgan Stanley

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-00718

Products

Equity

Issue Date

2018-09-26

Situs

Phoenix

State

AZ

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 explained Award, an Arbitrator awards Claimant expungement of a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

Merton E. Marks, Esq.

Broker-Dealers Named

Morgan Stanley DW Incorporated

Professionals

  • Cs: (CLM) Erica Harris, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (MSDWInc) Jeffrey S. Jacobi, Legal & Compliance Division, San Francisco, CA. ISC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Elide Corporation v. UBS Financial

Allegation II

Supervision

Forum

FINRA

Allegation III

BreachContract

Docket No

17-00230

Products

ETFs; Equity

Issue Date

2018-09-28

Situs

Los Angeles

State

CA

Clmd Compensatory

21113.4

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

0.0

Attorney Fees Awarded

0.0

* 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 settles its claim involving VelocityShares 3x Long Crude ETN and Valeant Pharmaceutical International Inc. Non-Party brokers win expungement.

Notes

This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Expungement granted.

Arbitrators

Robert B. Hansohn - Chair; Robert E. Jenks; Aurelio A. Garcia

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: Mauricio S. Beugelmans, Schiff Hardin LLP, San Francisco, CA.
  • Rs: (UBSFSInc) Neal S. Robb & Joshua Norton, Keesal Young & Logan, Long Beach, CA. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Rogers v. Morgan Stanley

Allegation II

Supervision

Forum

FINRA

Allegation III

UnjustEnrichment

Docket No

17-01935

Products

DirectInvesmts; HedgeFunds

Issue Date

2018-09-27

Situs

San Diego

State

CA

Clmd Compensatory

129.0

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

0.0

Attorney Fees Awarded

0.0

* 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 Explained Award, a Panel denies a customer's claim finding that Claimant failed to prove by a preponderance of the evidence any of the causes of action brought against Respondents involving the customer's investment in hedge funds.

Notes

Arbitrator Remarks -- Explained Award.

Arbitrators

Sally G. Williams - Chair; Thomas L. Marshall; Charles Chia-Lin Hsieh

Broker-Dealers Named

Morgan Stanley Smith Barney LLC

Professionals

  • Cs: Juan C. Castaneda, Castaneda Trial Attorneys PC, Carlsbad, CA.
  • Rs: (MSSBLLC & RAN) Nicholas Y. Lin, Morgan Stanley Wealth Management, San Francisco, CA. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Yun v. Wells Fargo

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

17-02377

Products

MutualFunds; MuniSecs

Issue Date

2018-09-26

Situs

Los Angeles

State

CA

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

0.0

* 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

Claimants settle their claim involving Alliance Bernstein funds including AB Municipal Income Shares and AB Corporate Taxable Multi-sector Income Share funds. Their Non-Party broker wins expungement relief.

Notes

This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Expungement granted. Explained Award.

Arbitrators

David J. Anderson - Chair; Arthur T. Berggren, Esq.; Michael M. Hachigian, Esq.

Broker-Dealers Named

Wells Fargo Advisors LLC nka Wells Fargo Clearing Services LLC

Professionals

  • Cs: Paul W. Thomas, Thomas Law Group PC, Carlsbad, CA.
  • Rs: (WFALLC) Judy Louie, Wells Fargo Law Department, Pasadena, CA. ISC.

TypeDisp

EmployeeCustomer

Allegation I

Expungement(CRD)

Short Caption

Binkele v. JP Turner & Company

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

17-03006

Products

DirectInvesmts

Issue Date

2018-09-25

Situs

Los Angeles

State

CA

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 wins a recommendation to expungement a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Constance Ellen Boukidis

Broker-Dealers Named

JP Turner & Company LLC

Professionals

  • Cs: (RJB) R. Craig Zafis, R. C. Zafis APC, San Diego, CA.
  • Rs: (JPT&CLLC) Jeremy Carr, Cetera Financial Group, El Segundo, CA. ISC.
  • Rs: Pro se.
  • Rs: No-show. -- Did not voluntarily submit to arbitration.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Sandkamp v. Wells Fargo

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

17-03445

Products

*

Issue Date

2018-09-24

Situs

Los Angeles

State

CA

Clmd Compensatory

0.0

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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's request for expungement of two customer complaints from his CRD record is denied after a customer appeared at the hearing in opposition.

Notes

None.

Arbitrators

Kendall C. Reed, Esq.

Broker-Dealers Named

Wells Fargo Clearing Services LLC

Professionals

  • Cs: (TGS) Dochtor Kennedy & Harris Freedman, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (WFCSLLC) Judy Louie, Wells Fargo Law Department, Pasadena, CA. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Chung v. Merrill Lynch

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-00398

Products

DirectInvesmts

Issue Date

2018-09-27

Situs

San Diego

State

CA

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 wins expungement of a customer complaint from his CRD record involving three master limited partnerships.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Herbert Liberman

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: (YMC) Dochtor Kennedy & Harris Freedman, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (MLPFSInc) Randi P. Spallina, Bressler Amery & Ross, Fort Lauderdale, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Sullivan v. Securities Service

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-01253

Products

Equity; CDOs

Issue Date

2018-09-27

Situs

San Francisco

State

CA

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 wins expungement of three customer complaints from his record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael Lancaster Garcia

Broker-Dealers Named

Securities Service Network LLC

Professionals

  • Cs: (TCS) Dochtor Kennedy & Eric Litow, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (SSNLLC) Ronald T. Klimas, Executive Vice President, Knoxville, TN. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Warner v. LPL Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-00938

Products

VariableAnnuities; MutualFunds; ETFs; Equity

Issue Date

2018-09-28

Situs

Hartford

State

CT

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 wins expungement of a customer complaint involving variable annuities, mutual funds, among other investments.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Sean Alan D'Amico

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (WFW) Dochtor Kennedy & Christopher Cummings, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (LPLFLLC) Jon Kaplon, Boston, MA. ISC.

TypeDisp

SmallClms

Allegation I

Churning

Short Caption

Myers v. Obsidian Financial

Allegation II

Suitability

Forum

FINRA

Allegation III

Supervision

Docket No

16-02808

Products

*

Issue Date

2018-09-26

Situs

Wilmington

State

DE

Clmd Compensatory

50.0

Total Amt Awarded

50.0

Compensatory Awarded

50.0

Punitive Damage Awarded

0.0

Attorney Fees Awarded

0.0

* 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 wins a small claims case on a default judgment issued by the Arbitrator.

Notes

Rs Philip A. Dina and Anthony Joe were not assessed any portion of the awarded amount. Rs Obsidian Financial Group LLC was assessed. PHL -- Involves bankruptcy stay. Rule 12801 default judgment.

Arbitrators

Joseph J. Dougherty, JD

Broker-Dealers Named

Obsidian Financial Group LLC

Professionals

  • Cs: Hilton Wiener, Law Office of H.M. Wiener, New York, NY.
  • Rs: (OFGLLC) No-show.
  • Rs: (PAD & AJ) None.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Anish v. Wells Fargo

Allegation II

Defamation

Forum

FINRA

Allegation III

WrongTerm

Docket No

17-02171

Products

NP

Issue Date

2018-09-27

Situs

Boca Raton

State

FL

Clmd Compensatory

Equity

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 loses his claim for reformation of his Form U-5 and request for rescission.

Notes

Directed Verdict -- Full Dismissal. Rescission Requested.

Arbitrators

Robert G. Geeseman, Esq. - Chair; Sydney E. Blum; Tina Scott Polsky

Broker-Dealers Named

Wells Fargo Clearing Services LLC

Professionals

  • Cs: (ESA) None.
  • Rs: (WFCSLLC) Frederick T. Smith & Gregory L. Smith Jr., Seyfarth Shaw LLP, Atlanta, GA. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Anderson v. Wells Fargo

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

16-03388

Products

CorpDebt

Issue Date

2018-09-25

Situs

Minneapolis

State

MN

Clmd Compensatory

138.5

Total Amt Awarded

75.4

Compensatory Awarded

75.4

Punitive Damage Awarded

0.0

Attorney Fees Awarded

0.0

* 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 is awarded compensatory damages on his claim relating to Quicksilver Resources Senior Notes. The Panel denies broker's request for expungement.

Notes

All-Public Panel.

Arbitrators

Daniel M. Yamshon, Esq. - Chair; William Michael Samsel; Steven M. Bialick

Broker-Dealers Named

Wells Fargo Advisors LLC

Professionals

  • Cs: Kalju Nekvasil, Goodman & Nekvasil, Clearwater, FL.
  • Rs: (WFALLC) Demian J. Betz, Wells Fargo Law Department, Charlotte, NC. ISC.
  • Rs: (RPK) Michael E. Rowe, Dorsey & Whitney, Minneapolis, MN.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Degelmann v. Prudential Investment

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-01200

Products

NP

Issue Date

2018-09-28

Situs

Minneapolis

State

MN

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* 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 wins Reformation U-5 on his defamation claim against his former employer.

Notes

Panel composition issue. Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Douglas J. Nesbit

Broker-Dealers Named

Prudential Investment Management Services LLC

Professionals

  • Cs: (JFD) Elizabeth P. Ridley, Heley Duncan & Melander, Minneapolis, MN.
  • Rs: (PIMSLLC) Alan S. Brodherson, Law Offices A.S. Brodherson, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Beam v. Allstate Financial

Allegation II

Supervision

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

17-01340

Products

DirectInvesmts

Issue Date

2018-09-26

Situs

Charlotte

State

NC

Clmd Compensatory

2000.0

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

0.0

Attorney Fees Awarded

0.0

* 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 All-Public Panel grants Respondent Sunset Financial Services' uncontested Pre-Hearing Motion to Dismiss based on the Six-year Eligibility Rule.

Notes

Pre-Hearing Adjudication -- Full Dismissal. All-Public Panel.

Arbitrators

Emily Eiselman Hunter, Esq. - Chair; Susan L. Luck; Hon. Ronald Tuttle Osborn

Broker-Dealers Named

Allstate Financial Services LLC; Sunset Financial Services Incorporated

Professionals

  • Cs: Sam McGee, Tin Fulton et al., Charlotte, NC. and David S. Rudolf, Rudolf Widenhouse LLP, Charlotte, NC.
  • Rs: (AFSLLC) Samantha Tesser Haimo, Feigeles & Haimo, Fort Lauderdale, FL. OSC.
  • Rs: (JLL) Fred B. Monroe, James McElroy & Diehl, Charlotte, NC.
  • Rs: (SFSInc) Christopher D. Tomlinson, Moore & Van Allen, Charlotte, NC. OSC.

TypeDisp

MemberEmployee

Allegation I

Raiding

Short Caption

Charles Schwab v. Humphreys

Allegation II

TakingRecords

Forum

FINRA

Allegation III

InjunctiveRelief

Docket No

17-01956

Products

NP

Issue Date

2018-09-28

Situs

Charlotte

State

NC

Clmd Compensatory

0.0

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

0.0

Attorney Fees Awarded

0.0

* 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-Dealer's raiding claim is denied by the Panel and the broker is awarded attorney fees (pursuant to Claimants' confidentiality, non-solicitation and intellectual property agreements) and costs.

Notes

Raiding case. Arbitrator Remarks.

Arbitrators

Patricia Ann Tracey, Esq. - Chair; Susan L. Luck; Leslie Robin Berro, CFP

Broker-Dealers Named

Charles Schwab & Company Incorporated

Professionals

  • Cs: (CS&CInc) Michael R. Greco, Fisher & Phillips, Denver, CO. OSC.
  • Rs: (RAH) Clinton W. Marrs, Marrs Griebel Law Ltd., Albuquerque, NM.

TypeDisp

CustomerMember

Allegation I

Churning

Short Caption

Zenk v. Obsidian Financial

Allegation II

UnauthTdg

Forum

FINRA

Allegation III

Suitability

Docket No

14-02349

Products

*

Issue Date

2018-09-24

Situs

Omaha

State

NE

Clmd Compensatory

139.9

Total Amt Awarded

139.9

Compensatory Awarded

139.9

Punitive Damage Awarded

0.0

Attorney Fees Awarded

0.0

* 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 wins compensatory damages from broker-dealer and former broker resulting from allegations of churning, unauthorized trading and suitability.

Notes

Rs Obsidian Capital Holdings LLC, Upinder Kumar Sharma, Alan Mitchell Krim, Tobias Anthony Lenza, John David Telfer, Qi Huang, Stephen Grivas, Philip A. Dina and Andrew C. Lavenziano were not assessed any portion of the awarded amount. Rs Obsidian Financial Group LLC and Paul Posillico were assessed. PHL -- Involves bankruptcy stay. All-Public Panel.

Arbitrators

Jeffrey M. Bain, Esq. - Chair; Murray S. Levin, Esq.; James Edward Nash

Broker-Dealers Named

Obsidian Financial Group LLC; Obsidian Capital Holdings LLC

Professionals

  • Cs: Hilton Wiener, Law Office of H. Wiener, New York, NY.
  • Rs: (OFGLLC, OCHLLC, PP, ACL & QH) No-show.
  • Rs: (UKS, JDT, SG & PA) None.
  • Rs: (AMK) Lawrence R. Gelber, Attorney-at-Law, Brooklyn, NY.
  • Rs: (TAL) Anthony A. Lenza Jr., Amabile & Erman, Staten Island, NY.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Esposito v. Sagepoint Financial

Allegation II

Supervision

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

17-01190

Products

VariableAnnuities

Issue Date

2018-09-27

Situs

Newark

State

NJ

Clmd Compensatory

450.0

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

0.0

Attorney Fees Awarded

0.0

* 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

Claimants settle their claim involving variable annuities against a broker-dealer. Claimants' former financial advisor wins expungement of said claim from his CRD record.

Notes

This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Expungement granted.

Arbitrators

Louis H. Miron, Esq. - Chair; Theresa R. Joyner, Esq.; Sidney Seligman

Broker-Dealers Named

Sagepoint Financial Incorporated

Professionals

  • Cs: Kristian Kraszewski, Kyros Law, Naples, FL.
  • Rs: (SFInc) Benjamin J. Biard, Winget Spadafora & Schwartzberg, Miami, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Samalin v. Morgan Stanley

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

17-03500

Products

Equity; CorpDebt

Issue Date

2018-07-30

Situs

New York

State

NY

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 wins expungement of two customer complaints from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Karen Isabel Bedrosian-Richardson

Broker-Dealers Named

First Asset Management Incorporated; Morgan Stanley DW Incorporated

Professionals

  • Cs: (AES) Harris Freedman, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (MSDWInc) Chan H. Nam, Morgan Stanley Wealth Management, New York, NY. ISC.
  • Rs: (FAMInc) No-show.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Lazos v. Oppenheimer & Company

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-00493

Products

Equity

Issue Date

2018-09-27

Situs

New York

State

NY

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 obtains expungement relief involving investments in FiberTower stock.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Ira S. Cure, Esq.

Broker-Dealers Named

Oppenheimer & Company Incorporated; Maxim Group LLC

Professionals

  • Cs: (CML) Faun M. Phillipson & Jonathan C. Uretsky, Phillipson & Uretsky, New York, NY.
  • Rs: (O&CInc) John T. McGuire, New York, NY. ISC.
  • Rs: (MGLLC) Ian H. Hummel, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Domino v. Park Avenue

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-01234

Products

LifeInsurance

Issue Date

2018-09-24

Situs

New York

State

NY

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 wins a recommendation to expunge a customer complaint from his record involving a life insurance plan.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Annamaria Boccia-Smith, Esq. (fka Annamaria Boccia-Kovarcik, Esq.)

Broker-Dealers Named

Park Avenue Securities LLC

Professionals

  • Cs: (AJD) John Stewart, Baritz & Colman, New York, NY.
  • Rs: (PASLLC) Stephen H. Broer, New York, NY. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Hester v. Ameriprise Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-00123

Products

NP

Issue Date

2018-09-28

Situs

Oklahoma City

State

OK

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 wins a recommendation to expunge a customer complaint from his CRD record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Thomas A. Martin, Esq.

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

  • Cs: (GSH) Harris Freedman, HLBS Law, Westminster, CO. and Dochtor Kennedy, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (AFSInc) Howard M. Klausmeier, Troy, MI. ISC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Securities America v. Jacobowitz

Allegation II

DebitBalance

Forum

FINRA

Allegation III

BreachContract

Docket No

17-03459

Products

PromissoryNote

Issue Date

2018-09-25

Situs

PP

State

PP

Clmd Compensatory

36.9

Total Amt Awarded

36.9

Compensatory Awarded

36.9

Punitive Damage Awarded

Attorney Fees Awarded

0.0

* 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 liable for breach of promissory note.

Notes

None.

Arbitrators

Bryan Lane Berson

Broker-Dealers Named

Securities America Incorporated

Professionals

  • Cs: (SAInc) Tyler Joseph Schubauer, Omaha, NE. ISC.
  • Rs: (OJJ) No-show.

TypeDisp

SmallClms

Allegation I

Misreprestn

Short Caption

Mandrell v. Connell

Allegation II

ExcessiveFees

Forum

FINRA

Allegation III

Docket No

18-01056

Products

NP

Issue Date

2018-09-24

Situs

PP

State

PP

Clmd Compensatory

1.3

Total Amt Awarded

0.0

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 customer's claim relating to her IRA account held with Edward Jones but grants her broker's request for expungement.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Michael L. Lyons, Esq.

Broker-Dealers Named

Edward Jones

Professionals

  • Cs: Pro se.
  • Rs: (LC & EJ&CLP) Darren Goodman, Tempe, AZ. ISC.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Zupkus v. Cambridge Investment

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

18-01327

Products

MutualFunds

Issue Date

2018-09-26

Situs

PP

State

PP

Clmd Compensatory

41.3

Total Amt Awarded

41.3

Compensatory Awarded

41.3

Punitive Damage Awarded

Attorney Fees Awarded

* 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 case, an Arbitrator holds Respondents jointly and severally liable to Claimant for damages involving the LJM Preservation and Growth Fund.

Notes

None.

Arbitrators

Charles W. Danis, Jr.

Broker-Dealers Named

Cambridge Investment Research Incorporated

Professionals

  • Cs: Pro se.
  • Rs: (CIRInc) Carolyn Browne, Bryan Cave et al., St. Louis, MO. OSC.
  • Rs: (JSP) James Kopecky, Kopecky Schumacher et al., Chicago, IL.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Banasch v. TD Ameritrade

Allegation II

BreachFiducDty

Forum

FINRA

Allegation III

BreachContract

Docket No

18-01470

Products

*

Issue Date

2018-09-26

Situs

PP

State

PP

Clmd Compensatory

50.0

Total Amt Awarded

17.7

Compensatory Awarded

17.7

Punitive Damage Awarded

Attorney Fees Awarded

* 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 alleges improper trading of stock in her account and is awarded compensatory damages by the Arbitrator.

Notes

None.

Arbitrators

Carol M. Egan, Esq.

Broker-Dealers Named

TD Ameritrade Incorporated

Professionals

  • Cs: Scott I. Batterman, Clay Chapman et al., Honolulu, HI.
  • Rs: (TDAInc) Ilana Herscovitz Reid, Associate Counsel, Litigation, Columbia, MD. ISC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Sharpe v. Merrill Lynch

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-00520

Products

Equity

Issue Date

2018-09-27

Situs

Houston

State

TX

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 recommends expungement of a broker's CRD record relating to a customer complaint involving Freddie Mac and Fannie Mae securities.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Lynne M. Gomez, Esq.

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated

Professionals

  • Cs: (IS) Matthew B. Henneman & Joseph Cialone III, Henneman Rau LLP, Houston, TX.
  • Rs: (MLPFSInc) Sarah K. Yates, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Thomas v. Citigroup Global

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-00769

Products

*

Issue Date

2018-09-28

Situs

Dallas

State

TX

Clmd Compensatory

Equity

Total Amt Awarded

Equity

Compensatory Awarded

Equity

Punitive Damage Awarded

Attorney Fees Awarded

* 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

Two brokers win expungement of a customer complaint from their CRD records.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Jeff Howard Abrams

Broker-Dealers Named

Citigroup Global Markets Incorporated

Professionals

  • Cs: (BDT & PRV) Steven J. Berry, Berry Odom LLP, Fort Worth, TX.
  • Rs: (CGMInc) David I. Hantman, Bressler Amery & Ross, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Carolyn v. UBS Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

18-01543

Products

*

Issue Date

2018-09-24

Situs

Houston

State

TX

Clmd Compensatory

0.0

Total Amt Awarded

Equity

Compensatory Awarded

0.0

Punitive Damage Awarded

Attorney Fees Awarded

* 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 wins expungement of a customer complaint from his record.

Notes

Arbitrator Remarks -- Expungement granted.

Arbitrators

Sherry R. Wetsch, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (JC) Alise Johnson Henry, Bressler Amery & Ross, Miami, FL.
  • Rs: (UBSFSInc) Craig A. Vollono, Weehawken, NJ. ISC.
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