UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2017-08-10

UA 2017-30

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

EmployeeMember

Allegation I

Discrimination(Age)

Short Caption

Lane v. Farmers Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

WrongTerm

Docket No

16-00840

Products

NP

Issue Date

2017-07-28

Situs

Phoenix

State

AZ

Clmd Compensatory

240.0

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."

Claim Summary

The causes of action related to Cs' Agent Appointment Agreement with Rs.

Notes

Age Discrimination case.

People & Entities

Arbitrators

Walter Steven Schwartz - Chair; Steven M. Guttell; Jerry L. Riggins

Broker-Dealers Named

Farmers Insurance Company of Arizona; Farmers Insurance Exchange; Farmers Insurance Group Incorporated dba Farmers Underwriters Association; Farmers New World Life Insurance Company LLC; Zurich Capital Markets Securities Incorporated; Zurich Insurance Group Limited; Farmers Financial Solutions LLC

Professionals

  • Cs: (WJL) None.
  • Rs: (FFSLLC, MJQ & GAR) Christopher S. Maile & Richard Moore, Tharpe & Howell, Sherman Oaks, CA. OSC.
  • Rs: (ZCMSInc, FIC of Ariz, FIExch, FIGInc, FNWLIC & ZIGLtd) No-show. -- Did not submit to arbitration.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Russ v. Morgan Stanley

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Negligence

Docket No

16-02368

Products

DirectInvesmts; Equity

Issue Date

2017-07-28

Situs

Phoenix

State

AZ

Clmd Compensatory

95.0

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."

Claim Summary

Cs alleged elder abuse, among other things. The causes of action related to investments in equities and oil and gas ventures, among other securities.

Notes

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

Arbitrators

Walter Steven Schwartz

Broker-Dealers Named

Morgan Stanley Smith Barney LLC

Professionals

  • Cs: Bruce R. Heurlin, Law Firm of Heurlin Sherlock, Tucson, AZ.
  • Rs: (MSSBLLC) Debra V. Achkire, Morgan Stanley Wealth Management, San Francisco, CA. ISC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

ABS Manager v. Morgan Stanley

Allegation II

BreachContract

Forum

FINRA

Allegation III

UnjustEnrichment

Docket No

14-02711

Products

NP

Issue Date

2017-07-25

Situs

Los Angeles

State

CA

Clmd Compensatory

5000.0

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."

Claim Summary

The causes of action related to a credit line secured by Cs' account and the liquidation of that account.

Notes

Directed Verdict -- Full Dismissal. Majority Public Panel. Arbitrator Remarks.

Arbitrators

Elliott Zachary Seff - Chair; Kevin Joseph Pilon; Karen A. Lockwood, CFP (fka Karen A. Takacs, CFP)

Broker-Dealers Named

Amherst Pierpont Securities LLC; National Alliance Securities LLC; Morgan Stanley Smith Barney LLC

Professionals

  • Cs: Mark D. Chester, Chester & Shein, Scottsdale, AZ.
  • Rs: (MSSBLLC) Neal S. Robb, Keesal Young & Logan, Long Beach, CA. OSC.
  • Rs: (APSLLC) Anthony Paduano, Paduano & Weintraub, New York, NY. OSC.
  • Rs: (NASLLC) David P. Lein, Graves Dougherty et al., Austin, TX. OSC.

TypeDisp

EmployeeMember

Allegation I

Compensatn

Short Caption

Sayre v. JP Morgan

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Defamation

Docket No

15-00524

Products

NP

Issue Date

2017-08-04

Situs

San Diego

State

CA

Clmd Compensatory

830.0

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."

Claim Summary

Bare-Bones Summary.

Notes

Arbitrator Remarks.

Arbitrators

Brian Boru Torsney, Sr. - Chair; Daniel A. Seiver; James Paul Estes

Broker-Dealers Named

JP Morgan Securities LLC

Professionals

  • Cs: (BAS) Kevin J. Mirch, Mirch Law Firm, San Diego, CA.
  • Rs: (JPMSLLC) Jeffrey S. Dunlap, Ulmer & Berne, Cleveland, OH. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Bruno v. UBS Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Compensatn

Docket No

15-01379

Products

NP

Issue Date

2017-08-03

Situs

San Diego

State

CA

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."

Claim Summary

Bare-Bones Summary.

Notes

Pre-Hearing Adjudication -- Full Dismissal. Sanctions imposed. Arbitrator Remarks.

Arbitrators

Guenter S. Cohn, Esq. - Chair; Doris V. Knotter; Seth Howard Schwartz, MA

Broker-Dealers Named

UBS Financial Services Incorporated

Professionals

  • Cs: (CGB) None.
  • Rs: (UBSFSInc & LRZ) Julie L. Taylor & Ian Ross, Keesal Young & Logan, San Francisco, CA. OSC.

TypeDisp

CustomerMember

Allegation I

Churning

Short Caption

Wilson v. Regina

Allegation II

UnauthTdg

Forum

FINRA

Allegation III

Suitability

Docket No

15-01410

Products

Equity; Options

Issue Date

2017-07-25

Situs

San Diego

State

CA

Clmd Compensatory

164.2

Total Amt Awarded

157.0

Compensatory Awarded

105.0

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."

Claim Summary

The causes of action related to commissions charged Cs, among other things.

Notes

Rs Michael Anthony Regina, Philip A. Dina, John David Telfer, Patrick Nicholas Teutonico and Qi Huang were not assessed any portion of the awarded amount. Rs Obsidian Financial Group LLC and Stephen Grivas were assessed. PHL -- Involves bankruptcy stay. All-Public Panel.

Arbitrators

Michael D. Briggs - Chair; William L. Merkin, Esq.; Randall Brian Christison

Broker-Dealers Named

Obsidian Financial Group LLC

Professionals

  • Cs: Pro se. Previously represented by: Hilton Weiner, Law Office of H.M. Weiner, New York, NY.
  • Rs: (MAR) Martin P. Unger, Wexler Burkhart et al., Garden City, NY.
  • Rs: (PAD) None.
  • Rs: (JDT, SG, OFGLLC & QH) No-show.
  • Rs: (PNT) None.

TypeDisp

EmployeeMember

Allegation I

Compensatn

Short Caption

Reed v. Wedbush Securities

Allegation II

BreachContract

Forum

FINRA

Allegation III

Retaliation

Docket No

15-02314

Products

NP

Issue Date

2017-07-28

Situs

San Francisco

State

CA

Clmd Compensatory

128.2

Total Amt Awarded

409.2

Compensatory Awarded

245.4

Punitive Damage Awarded

0.0

Attorney Fees Awarded

118.1

* Damage field dollar figures are divided by 1,000 and rounded to the nearest $100; e.g., $2,500 appears as" 2.5."

Claim Summary

Cs alleged that Rs terminated him for complaining about unpaid wages.

Notes

Damage Anomaly. Arbitrator Remarks.

Arbitrators

Herb Schwartz - Chair; Ralph A. Cotton, CPA; Arocles Aguilar

Broker-Dealers Named

Wedbush Securities Incorporated

Professionals

  • Cs: (TNR) Donald C. Potter, Law Office of D. Potter, Pasadena, CA.
  • Rs: (WSInc) Matthew Klafter, Los Angeles, CA. ISC.

TypeDisp

SmallClms

Allegation I

Churning

Short Caption

Bergstrom v. Cape Securities

Allegation II

Suitability

Forum

FINRA

Allegation III

Misreprestn

Docket No

16-02112

Products

*

Issue Date

2017-07-28

Situs

Des Moines

State

IA

Clmd Compensatory

42.0

Total Amt Awarded

14.0

Compensatory Awarded

14.0

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."

Claim Summary

Cs alleged that Rs mismanaged his account through excessive turnover.

Notes

Rs Cape Securities Inc. and Lon Charles Faccini were not assessed any portion of the awarded amount. Rs Christopher John Calandrino was assessed.

Arbitrators

Terry F. Peppard, Esq.

Broker-Dealers Named

Cape Securities Incorporated

Professionals

  • Cs: Gail E. Boliver, Boliver Law Firm, Marshalltown, IA.
  • Rs: (CSInc) Mike Lovett, McDonough, GA. ISC.
  • Rs: (CJC & LCF) None.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Devaney v. Ameriprise Financial

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Docket No

16-00783

Products

DirectInvesmts; ETFs

Issue Date

2017-07-31

Situs

Chicago

State

IL

Clmd Compensatory

62.7

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."

Claim Summary

Cs alleged that Rs made investments in Master Limited Partnership Funds, including Direxion Zacks MLP High Income Exchange Traded Fund and Alerian Exchange Traded Fund, and high-risk stocks, including Cohen & Steers Infrastructure Fund Inc. and Energy Transfer Partners LP, that were unsuitable for their investment goals.

Notes

This is a Stipulated Award. Arbitrator Remarks -- Expungement granted.

Arbitrators

Gregory G. Gocek

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

  • Cs: Adrian Mendoza, Lillig & Thorsness Ltd., Oak Brook, IL.
  • Rs: (AFSInc) Howard Klausmeier, Troy, MI. ISC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Greenlee-Keck v. JP Morgan

Allegation II

Defamation

Forum

FINRA

Allegation III

UnjustEnrichment

Docket No

16-01158

Products

PromissoryNote

Issue Date

2017-08-02

Situs

Indianapolis

State

IN

Clmd Compensatory

1500.0

Total Amt Awarded

Equity

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."

Claim Summary

The causes of action related to Cs allegation that her career was destroyed by JP Morgan's campaign of defamation against her when she resigned from JP Morgan and Wells Fargo's termination of her employment with Wells Fargo.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Robert J. Scafuri, Esq. - Chair; F. Bradford Johnson; Judith Ann Estabrook Shepard

Broker-Dealers Named

JP Morgan Securities LLC; Wells Fargo Advisors LLC

Professionals

  • Cs: (DEG) Andrew M. Hicks & Matthew W. Schramm, Warrick & Boyn, Elkhart, IN.
  • Rs: (JPMSLLC) Jeffrey S. Dunlap, Ulmer & Berne, Cleveland, OH. OSC.
  • Rs: (WFALLC) William W. Allen, Gess Mattingly & Atchison, Lexington, KY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Kirk v. UBS Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

16-03277

Products

NP

Issue Date

2017-07-28

Situs

Wichita

State

KS

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."

Claim Summary

Cs requested the expungement of two customer complaints from his CRD records.

Notes

None.

Arbitrators

Mark S. Foster, Esq.

Broker-Dealers Named

UBS Financial Services Incorporated; Prudential Equity Group LLC

Professionals

  • Cs: (THK) Dochtor Kennedy & Michael O'Gara, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (UBSFSInc) W. Preston Martin, Bressler Amery & Ross, Birmingham, AL. OSC.
  • Rs: (PEGLLC) Alan S. Brodherson, Law Offices of A.S. Brodherson, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Gentiluomo v. Equity Services

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

17-00608

Products

NP

Issue Date

2017-08-03

Situs

Raleigh

State

NC

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."

Claim Summary

Cs requested the reformation on Cs' Amended Form U-4 of an investigation by the U.S. Attorney for the Western District of Virginia, relating to HUD-financed properties.

Notes

Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Edith N. Dinneen, Esq. - Chair; Thomas B. Corey, Esq.; Charles Robert Moore

Broker-Dealers Named

Equity Services Incorporated

Professionals

  • Cs: (AG) Janet K. DeCosta, J.K. DeCosta PC, Washington, DC.
  • Rs: (ESInc) Jennifer O'Shea, Winget Spadafora & Schwartzberg, Boulder, CO. OSC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Board County of Bernalillo v. BOSC Incorporated

Allegation II

Suitability

Forum

FINRA

Allegation III

BreachContract

Docket No

15-02841

Products

GovtSecs; Equity

Issue Date

2017-07-28

Situs

Albuquerque

State

NM

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."

Claim Summary

Cs alleged that Rs recommended that its tax revenues be invested in an undiversified, concentrated portfolio of long-term fixed-income securities, including Fannie Mae, the Federal Home Loan Bank, and other government-sponsored enterprises.

Notes

Sanctions imposed. All-Public Panel. Arbitrator Remarks -- Case law cited.

Arbitrators

Barry H. Barnett, Esq. - Chair; Patricia G. Parthe, Esq.; Harvey W. Gordon

Broker-Dealers Named

Oppenheimer & Company Incorporated; BOSC Incorporated

Professionals

  • Cs: Clinton W. Marrs, Marrs Griebel Law, Albuquerque, NM.
  • Rs: (BOSCInc & TWH) Paul DeMuro, Frederic Dorwart Lawyers PLLC, Tulsa, OK. OSC.
  • Rs: (O&Cinc) Colin L. Hunter, The Barnett Law Firm, Albuquerque, NM. OSC. and David A. Garcia, D.A. Garcia LLC, Albuquerque, NM. OSC. and Rodney Acker, Norton Rose Fulbright US LLP, Dallas, TX. OSC.
  • Rs: (ROS) J. Randle Henderson, J.R. Henderson Attorney-at-Law, Houston, TX.

TypeDisp

CustomerMember

Allegation I

FailToObey

Short Caption

Deutsch v. Fidelity Brokerage

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachContract

Docket No

12-02759

Products

Equity; Hypothecation

Issue Date

2017-07-28

Situs

New York

State

NY

Clmd Compensatory

125000.0

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."

Claim Summary

Cs alleged that Rs prevented them from taking control of China Medical Technologies Inc. by lending out its stock from their account and refusing to execute their purchase orders of the stock.

Notes

Majority Public Panel. Arbitrator Remarks -- Expungement granted after a hearing on the merits. Explained Award. Case law cited.

Arbitrators

Paul S. Biederman - Chair; Robert E. Anderson, Esq.; Fred Shinagel

Broker-Dealers Named

Fidelity Brokerage Services LLC; National Financial Services LLC

Professionals

  • Cs: David Graff & Rachael Kierych, Anderson Kill PC, New York, NY. and Howard Graff, Arent Fox LLP, New York, NY. Cs Expert: Andrew Bolton.
  • Rs: (FBSLLC & NFSLLC) Brian Amery & Mark D. Knoll & Susan George, Bressler Amery & Ross, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Reformation(U-5)

Short Caption

Pilku v. Advisors Asset

Allegation II

Defamation

Forum

FINRA

Allegation III

Compensatn

Docket No

13-02213

Products

NP

Issue Date

2017-07-25

Situs

New York

State

NY

Clmd Compensatory

100.0

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."

Claim Summary

Cs also alleged retaliation, among other things.

Notes

This is a Stipulated Award. Arbitrator Remarks -- Reformation U-5 granted.

Arbitrators

Susan C. Lushing, Esq. - Chair; Joel C. Keilson; Mark Jeffrey Snyder

Broker-Dealers Named

Advisors Asset Management Incorporated

Professionals

  • Cs: (EP) James P. Gianakis, Gianakis Law LLC, Short Hills, NJ.
  • Rs: (AAMInc & ELS) Steven E. Mellen, Winget Spadafora Schwartzberg LLP, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

Negligence

Short Caption

Riggs v. Wells Fargo

Allegation II

BreachFiducDty

Forum

FINRA

Allegation III

Supervision

Docket No

15-00070

Products

*

Issue Date

2017-08-04

Situs

New York

State

NY

Clmd Compensatory

600.0

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."

Claim Summary

Bare-Bones Summary.

Notes

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

Arbitrators

Louis P. Wagman, - Chair; Linda Ashley, Esq.; Annamaria Boccia-Smith, Esq. (fka Annamaria Boccia-Kovarcik, Esq.)

Broker-Dealers Named

Wells Fargo Financial Network LLC; Wells Fargo Advisors LLC; CRT Private Wealth Management

Professionals

  • Cs: Alan P. Fraade, Mintz & Fraade, New York, NY.
  • Rs: (WFALLC, WFAFNLLC, WR & MT) Zachary S. Knoblock, Winget Spadafora Schwartzberg LLP, Miami, FL. OSC.
  • Rs: (CRTPWMgmt) No-show. -- Did not voluntarily submit to arbitration.

TypeDisp

EmployeeMember

Allegation I

Discrimination(Age)

Short Caption

Taylor v. SG Americas

Allegation II

Compensatn

Forum

FINRA

Allegation III

BreachContract

Docket No

16-01976

Products

NP

Issue Date

2017-07-28

Situs

New York

State

NY

Clmd Compensatory

781.4

Total Amt Awarded

200.0

Compensatory Awarded

200.0

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."

Claim Summary

Cs alleged that Rs owed him deferred compensation and severance and discriminated against him based on his age.

Notes

Age Discrimination case.

Arbitrators

Joseph J. Arata, Esq. - Chair; Sam Antar, Esq.; Susan A. Romano

Broker-Dealers Named

SG Americas Securities LLC

Professionals

  • Cs: (WPT) Daniel F. Markham, Wrobel Markham et al., New York, NY.
  • Rs: (SGASLLC) Lloyd S. Clareman, Law Office of L.S. Clareman, New York, NY. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Born v. Raymond James

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

16-03662

Products

MutualFunds; VariableAnnuities

Issue Date

2017-07-31

Situs

Columbus

State

OH

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."

Claim Summary

Cs requested the expungement of two customer complaints alleging that Cs recommended unsuitable variable annuities and did not give the customers notice of the surrender charges and income riders pertaining thereto.

Notes

Arbitrator Remarks -- Expungement granted after a hearing on the merits. Explained Award.

Arbitrators

Lynn Hirschfeld Brahin, Esq. - Chair; Nelson E. Genshaft, Esq.; Erick R. Zanner

Broker-Dealers Named

Raymond James Financial Services Incorporated

Professionals

  • Cs: (TLB) Dennis J. Concilla, Carlile Patchen & Murphy, Columbus, OH.
  • Rs: (RJFSInc) Brandy Pikus, St. Petersburg, FL. ISC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Oppenheimer & Company v. Taylor

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

16-01025

Products

PromissoryNote

Issue Date

2017-07-24

Situs

PP

State

PP

Clmd Compensatory

9.6

Total Amt Awarded

9.6

Compensatory Awarded

9.6

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."

Claim Summary

Bare-Bones Summary.

Notes

None.

Arbitrators

Mark L. Williams, Esq.

Broker-Dealers Named

Oppenheimer & Company Incorporated

Professionals

  • Cs: (O&CInc) Travis McGregor, New York, NY. ISC.
  • Rs: (KWT) No-show.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Emanuel v. Aegis Capital

Allegation II

Supervision

Forum

FINRA

Allegation III

Negligence

Docket No

16-02242

Products

PrivSecTrans

Issue Date

2017-08-02

Situs

PP

State

PP

Clmd Compensatory

25.0

Total Amt Awarded

Equity

Compensatory Awarded

Equity

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."

Claim Summary

The causes of action related to a private placement offering of securities by an early-stage company called Boldface Group.

Notes

This is a Stipulated Award. Rescission Requested. Arbitrator Remarks -- Expungement granted.

Arbitrators

Peter A. Portley, Esq.

Broker-Dealers Named

Aegis Capital Corporation

Professionals

  • Cs: Scott L. Silver, Silver Law Group, Coral Springs, FL.
  • Rs: (ACCorp) Gregg Breitbart, Kaufman Dolowich & Voluck, Boca Raton, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Rao v. Ameriprise Financial

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

16-03720

Products

NP

Issue Date

2017-07-25

Situs

PP

State

PP

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."

Claim Summary

Cs requested the expungement of three customer complaints from his CRD records.

Notes

Arbitrator Remarks -- Expungement granted after a hearing on the merits.

Arbitrators

Howard R. Gaines, Esq.

Broker-Dealers Named

Ameriprise Financial Services Incorporated

Professionals

  • Cs: (NMR) Michael O'Gara, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (AFSInc) Howard M. Klausmeier, Legal Affairs, Troy, MI. ISC.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Gromyko v. Boothroyd

Allegation II

Supervision

Forum

FINRA

Allegation III

Docket No

17-00506

Products

MutualFunds

Issue Date

2017-07-25

Situs

PP

State

PP

Clmd Compensatory

30.8

Total Amt Awarded

21.2

Compensatory Awarded

21.2

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."

Claim Summary

Cs alleged a failure to diversify his portfolio, among other things. The causes of action related to an investment in the Fidelity Government Income Fund.

Notes

None.

Arbitrators

Robert L. Chase, Esq.

Broker-Dealers Named

Fidelity Brokerage Services LLC

Professionals

  • Cs: Pro se.
  • Rs: (JDB & FBSLLC) Lauren A. Stagnone, FMR Legal Department, Boston, MA. ISC.

TypeDisp

MemberEmployee

Allegation I

LoanDefault

Short Caption

Securities America v. Austin

Allegation II

BreachContract

Forum

FINRA

Allegation III

UnjustEnrichment

Docket No

17-00542

Products

PromissoryNote

Issue Date

2017-08-02

Situs

PP

State

PP

Clmd Compensatory

43.4

Total Amt Awarded

43.4

Compensatory Awarded

43.4

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."

Claim Summary

Cs alleged that Rs failed repay sums due on a promissory note dated 7/1/13 and a debit balance that accrued on her commission and fee statements upon the termination of her registration with Cs.

Notes

None.

Arbitrators

Christopher M. McMurray, Esq.

Broker-Dealers Named

Securities America Incorporated

Professionals

  • Cs: (SAInc) Christina Heller & Kevin J. Miller, Lavista, NE. ISC.
  • Rs: (JJA) No-show.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Robertson v. Morgan Stanley

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

16-01949

Products

CorpDebt

Issue Date

2017-08-03

Situs

Dallas

State

TX

Clmd Compensatory

159.1

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."

Claim Summary

Cs alleged that Harvey made unsuitable recommendations that led to Cs' portfolio being comprised of junk bonds.

Notes

Rescission Requested. Majority Public Panel. Arbitrator Remarks -- Expungement granted after a hearing on the merits.

Arbitrators

David A. Schuler - Chair; James Douglas Haigh; Robert C. Denenberg

Broker-Dealers Named

Morgan Stanley Smith Barney LLC

Professionals

  • Cs: Richard H. Elliott, Law Office of R. Elliott, Dallas, TX.
  • Rs: (MSSBLLC & JLH) Jeffrey Palmer, Greenberg Traurig LLP, San Francisco, CA. OSC.

TypeDisp

SmallClms

Allegation I

FailToObey

Short Caption

Boehm v. K.C. Ward

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

16-01522

Products

EqOptions

Issue Date

2017-07-24

Situs

Milwaukee

State

WI

Clmd Compensatory

45.9

Total Amt Awarded

11.5

Compensatory Awarded

11.5

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."

Claim Summary

Cs alleged that Rs purchased put options in Pandora stock without authorization.

Notes

None.

Arbitrators

Terry F. Peppard, Esq.

Broker-Dealers Named

K.C. Ward Financial Incorporated

Professionals

  • Cs: Jonathan E. Neuman, Law Offices of J.E. Neuman, Fresh Meadows, NY.
  • Rs: (KCWFInc) Louis Ward, CEO, Ronkonkoma, NY. ISC.

TypeDisp

CustomerMember

Allegation I

Negligence

Short Caption

Keck v. Georgio

Allegation II

Operations

Forum

FINRA

Allegation III

Misreprestn

Docket No

16-00512

Products

NP

Issue Date

2017-07-24

Situs

Cheyenne

State

WY

Clmd Compensatory

662.6

Total Amt Awarded

559.6

Compensatory Awarded

559.6

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."

Claim Summary

Cs alleged that Rs caused Cs to forfeit their right to receive benefits from a defined benefit plan in the Wyoming Retirement System by transferring funds from the plan.

Notes

Rs The Pedersen Investment Group was not assessed any portion of the awarded amount. Rs Jacqueline Sarette Georgio aka Jacqueline Sarette Georgio Westover, Paul Samuel Howard, Bryan Kristian Pedersen and RBC Capital Markets LLC were assessed.

Arbitrators

Richard Djokic, Esq. - Chair; Thomas R. Bromberg, Esq.; Larry D. Hayden, Esq.

Broker-Dealers Named

The Pedersen Investment Group; RBC Capital Markets LLC

Professionals

  • Cs: Patrick J. Crank, Crank Legal Group PC, Cheyenne, WY.
  • Rs: (RBCCMLLC, JSG, PSH & BKP) Adrian P. Castro & John S. Lutz, Fairfield & Woods, Denver, CO. OSC.
  • Rs: (TPGp) No-show. -- Did not voluntarily submit to arbitration.
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