UPDATE : ARBchek

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

New Award Briefs

Report Dated: 2017-06-21

UA 2017-23

Primary Sort

Secondary Sort

Dispute Information

Damages*

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Bowers v. Accelerated Capital

Allegation II

Negligence

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

16-02532

Products

CDOs; Derivatives

Issue Date

2017-06-07

Situs

Phoenix

State

AZ

Clmd Compensatory

300.0

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

The causes of action related to investments in the Aequitas Commercial Finance Secured Subordinated Promissory Notes.

Notes

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

People & Entities

Arbitrators

Deana S. Peck - Chair; Loren Scott Buell; Roger A. Geddes

Broker-Dealers Named

Accelerated Capital Group; Ashton Thomas Private Wealth LLC fka Gentry Asset Advisory LLC

Professionals

  • Cs: Darlene S. Pasieczny, Samuels Yoelin Kantor LLP, Portland, OR.
  • Rs: (ACGp, WIM & JLR) Brian A. Lebrecht, Clyde Snow & Sessions, Salt Lake City, UT. OSC.
  • Rs: (ATPWLLC & APB) Mark D. Chester, Chester & Stein, Scottsdale, AZ. OSC.

TypeDisp

CustomerMember

Allegation I

Churning

Short Caption

Gantan v. Apex Clearing

Allegation II

Suitability

Forum

FINRA

Allegation III

Misreprestn

Docket No

14-03343

Products

*

Issue Date

2017-06-07

Situs

San Francisco

State

CA

Clmd Compensatory

300.0

Total Amt Awarded

295.5

Compensatory Awarded

241.5

Punitive Damage Awarded

0.0

Attorney Fees Awarded

43.7

* 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

Rs Chad Elliot Thompson and Stephen Douglas Pizzuti were not assessed any portion of the awarded amount. Rs Apex Clearing Corporation, Freedom Investors Corporation and Merrimac Corporate Securities Inc. were assessed. PHL -- Involves bankruptcy stay. Clrg BD dispute. Majority Public Panel. Arbitrator Remarks.

Arbitrators

Robert E. Thompson, Esq. - Chair; Donald S. Green; Stephen A. Field

Broker-Dealers Named

Apex Clearing Corporation; Freedom Investors Corporation; Merrimac Corporate Securities Incorporated

Professionals

  • Cs: Bruce D. Oakes & Richard B. Fosher, Oakes & Fosher, St. Louis, MO.
  • Rs: (ACCorp) Jonathan D. Neerman, Jackson Walker LLP, Dallas, TX. OSC.
  • Rs: (FICorp) Charles M. O'Rourke, Attorney-at-Law, Woodbury, NY. OSC.
  • Rs: (MCSInc) Mark Thomes, Chief Financial Officer, Longwood, FL. ISC.
  • Rs: (SDP & CET) None.

TypeDisp

CustomerMember

Allegation I

BreachFiducDty

Short Caption

Trottier v. Morgan Stanley

Allegation II

Negligence

Forum

FINRA

Allegation III

BreachContract

Docket No

15-02910

Products

Annuities; PrivSecTrans; MutualFunds

Issue Date

2017-06-09

Situs

Los Angeles

State

CA

Clmd Compensatory

0.0

Total Amt Awarded

396.6

Compensatory Awarded

168.0

Punitive Damage Awarded

0.0

Attorney Fees Awarded

130.0

* 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 his decedent's broker assisted in the elder abuse of the decedent, including the liquidation of securities and annuities to finance a security system the decedent did not need.

Notes

Arbitrator Remarks -- Arbitrator dissents with explanation. Case law cited. All-Public Panel.

Arbitrators

Michael D. Harrison, Esq. - Chair; Steven H. Gourley, Esq.; Mark S. Priver, Esq. (Dissents)

Broker-Dealers Named

Morgan Stanley Smith Barney LLC dba Morgan Stanley

Professionals

  • Cs: Kenneth J. Catanzarite, Catanzarite Law Corporation, Anaheim, CA.
  • Rs: (MSSBLLC & SEC) Lesley V. Tepper, San Francisco, CA. ISC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Mapes v. Bowers

Allegation II

Supervision

Forum

FINRA

Allegation III

Docket No

15-03485

Products

MutualFunds; DirectInvesmts

Issue Date

2017-06-05

Situs

San Diego

State

CA

Clmd Compensatory

1000.0

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 investments in the Heritage Dividend Fund LLC, Heritage Opportunity Fund LLC, MD Proton Treatment Holdings LLC, CA Proton Treatment Center LLC and GPTH Note LLC.

Notes

Directed Verdict -- Full Dismissal. Rescission Requested. All-Public Panel.

Arbitrators

James D. Knotter, Esq. - Chair; Katherine Jane Morris; Kevin K. Forrester, Esq.

Broker-Dealers Named

WFG Investments Incorporated

Professionals

  • Cs: Arthur S. Leider, Investors Arbitration Specialists LLC, San Diego, CA.
  • Rs: (RNB) Vincent D. Slavens, Krause Kalfayan et al., San Diego, CA.
  • Rs: (WFGIInc) Fred Knopf, Knopf Law LLC, Milford, CT. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Harper v. Regal Advisory

Allegation II

Misreprestn

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

16-00460

Products

DirectInvesmts; RealEstate

Issue Date

2017-06-05

Situs

Los Angeles

State

CA

Clmd Compensatory

510.0

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 a tenant-in-common program sponsored by Cole Capital Partners LLC, called Best Buy Baytown.

Notes

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

Arbitrators

Edward A. Trabin, Esq. - Chair; Neil S. Jasper; W. Alex King

Broker-Dealers Named

Regal Advisory Services Incorporated; Royal Alliance Associates Incorporated

Professionals

  • Cs: Thomas H. Porter, Law Offices of Jeffrey A. Feldman, San Francisco, CA.
  • Rs: (RASInc & RAAInc) G. Thomas Fleming III, Jones Bell et al., Los Angeles, CA. OSC.

TypeDisp

EmployeeMember

Allegation I

Discrimination(Age&Disability)

Short Caption

Blum v. RBC Capital

Allegation II

Defamation

Forum

FINRA

Allegation III

Compensatn

Docket No

15-03463

Products

NP

Issue Date

2017-06-05

Situs

Boca Raton

State

FL

Clmd Compensatory

5792.9

Total Amt Awarded

37.0

Compensatory Awarded

37.0

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 age and disability discrimination and violation of the Family Medical Leave Act, among other things.

Notes

Age & Disability discrimination case. Arbitrator Remarks.

Arbitrators

Donald Theodore Ryce, Jr., Esq. - Chair; Robert J. Buchner, Esq.; Justin M. Moore

Broker-Dealers Named

RBC Capital Markets Incorporated

Professionals

  • Cs: (PB) Jason S. Haskelkorn & Matthew Thibaut, Ciklin Lubitz & O'Connell, West Palm Beach, FL.
  • Rs: (RBCCMLLC) Carole G. Miller & Frank J. Cuccio, Bressler Amery & Ross, Birmingham, AL. OSC.

TypeDisp

CustomerMember

Allegation I

Misreprestn

Short Caption

Wilson v. RBC Capital

Allegation II

Supervision

Forum

FINRA

Allegation III

Negligence

Docket No

16-00712

Products

CorpDebt

Issue Date

2017-06-09

Situs

Boca Raton

State

FL

Clmd Compensatory

250.0

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 investments in energy sector corporate bonds.

Notes

All-Public Panel.

Arbitrators

Mark Allen Bilawsky - Chair; Carl Shechter, Esq.; Donald Theodore Ryce, Jr., Esq.

Broker-Dealers Named

RBC Capital Markets LLC

Professionals

  • Cs: Jason Haselkorn & Matthew Thibaut, Ciklin Lubitz & O'Connell, West Palm Beach, FL.
  • Rs: (RBCCMLLC) Joelle A. Simms & Frank Cuccio, Bressler Amery & Ross, Fort Lauderdale, FL. OSC.

TypeDisp

EmployeeMember

Allegation I

Expungement(CRD)

Short Caption

Bodner v. Chase Investment

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

16-03262

Products

NP

Issue Date

2017-06-09

Situs

Miami

State

FL

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 expungement of two customer complaints and a and a previously filed arbitration, Docket #09-06823.

Notes

Pre-Hearing Adjudication -- Party Dismissal. Arbitrator Remarks -- Expungement granted after a hearing on the merits.

Arbitrators

Christopher J. Klein, Esq.

Broker-Dealers Named

Chase Investment Services Corporation; Citigroup Global Markets Incorporated

Professionals

  • Cs: (RJB) Owen Harnett, AdvisorLaw LLC, Broomfield, CO.
  • Rs: (CISCorp) Jeffrey J. Kmoch, JP Morgan Chase & Company, Chicago, IL. OSC.
  • Rs: (CGMInc) Kurt Kalberer, Bressler Amery & Ross, New York, NY. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Estrella v. UBS Financial

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

15-01777

Products

MutualFunds

Issue Date

2017-06-05

Situs

Atlanta

State

GA

Clmd Compensatory

101.0

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 that Rs over-concentrated her investments in high risk closed-end Puerto Rico bond funds.

Notes

This is a Stipulated Award. Rescission Requested. All-Public Panel. Panel composition issue. Arbitrator Remarks -- Expungement granted.

Arbitrators

Mollie Wagner Neal, Esq. - Chair; Deborah Johns Tatum

Broker-Dealers Named

UBS Financial Services Incorporated of Puerto Rico; UBS Financial Services Incorporated

Professionals

  • Cs: Peter J. Mougey, Levin Papantonio et al., Pensacola, FL.
  • Rs: (UBSFSInc & UBSFSIncPR) Kathryn Rockwood, Bressler Amery & Ross, Florham Park, NJ. OSC.

TypeDisp

CustomerMember

Allegation I

Churning

Short Caption

Schiffler v. Brookstone Securities

Allegation II

Suitability

Forum

FINRA

Allegation III

Misreprestn

Docket No

16-02801

Products

Equity; Margin

Issue Date

2017-06-07

Situs

Boise

State

ID

Clmd Compensatory

260.7

Total Amt Awarded

260.7

Compensatory Awarded

260.7

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 shares of Research in Motion and Delcath Systems, among other securities.

Notes

Rule 12801 default judgment. Severance.

Arbitrators

Dean J. Dietrich, Esq. - Chair

Broker-Dealers Named

Brookstone Securities Incorporated; Craig Scott Capital LLC

Professionals

  • Cs: Bradley D. Schnur, Law Office of B.D. Schnur, Jericho, NY.
  • Rs: (BSInc) David W. Locy, Overland Park, KS. ISC.
  • Rs: (CSCLLC) Craig Taddonio, Babylon, NY. ISC.
  • Rs: (DCC & BMP) No-show.

TypeDisp

CustomerMember

Allegation I

Fraud

Short Caption

Ebersole v. Merrill Lynch

Allegation II

Supervision

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

15-03367

Products

DirectInvesmts

Issue Date

2017-06-06

Situs

Cleveland

State

OH

Clmd Compensatory

0.0

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

The causes of action related to Cs allegations regarding an alleged Ponzi scheme involving KGTA Petroleum Ltd. promissory notes.

Notes

This is a Stipulated Award. PHL -- Involves bankruptcy stay. All-Public Panel. Severance.

Arbitrators

Michael S. Matek, Esq. - Chair; Kevin R. Zehe; Ronnie Lou Marquez-Posey

Broker-Dealers Named

Merrill Lynch Pierce Fenner & Smith Incorporated; PrimeSolutions Securities Incorporated

Professionals

  • Cs: Hugh D. Berkson, McCarthy Lebit et al., Cleveland, OH.
  • Rs: (MLPFSInc) Tara A. LaClair, Crowe & Dunlevy, Oklahoma City, OK. OSC.
  • Rs: (PSInc & VLB) Karl E. May, Kadish Hinkel & Weibel, Cleveland, OH. OSC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Ritz v. Morgan Stanley

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

16-00523

Products

DirectInvesmts; REITs; Equity

Issue Date

2017-06-07

Situs

Pittsburgh

State

PA

Clmd Compensatory

692.5

Total Amt Awarded

110.0

Compensatory Awarded

110.0

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 invested their funds in risky and volatile energy stocks, including Seadrill Inc., Copano Energy LLC and Interoil, and real estate investment trusts, that were unsuitable for their investment goals.

Notes

All-Public Panel.

Arbitrators

Michael D. McDowell - Chair; Stuart C. Gaul; Carole Katz

Broker-Dealers Named

Morgan Stanley Smith Barney LLC

Professionals

  • Cs: Michael J. Betts, Post & Schell, Pittsburgh, PA.
  • Rs: (MSSBLLC & CAC) Chan H. Nam, New York, NY. ISC.

TypeDisp

EmployeeCustomer

Allegation I

Expungement(CRD)

Short Caption

Lieb v. Confer

Allegation II

Defamation

Forum

FINRA

Allegation III

Docket No

16-03081

Products

VariableAnnuities; LifeInsurance

Issue Date

2017-06-05

Situs

Pittsburgh

State

PA

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 expungement of four customer complaints.

Notes

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

Arbitrators

Michael D. McDowell - Chair; Cheryl Esposito Kaufman; John P. Arbiola

Broker-Dealers Named

None.

Professionals

  • Cs: (RAL) None.
  • Rs: Pro se.
  • Rs: No-show.

TypeDisp

SmallClms

Allegation I

Suitability

Short Caption

Dryden v. Avenir Financial

Allegation II

Supervision

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

16-02935

Products

Equity; Margin

Issue Date

2017-06-08

Situs

PP

State

PP

Clmd Compensatory

26.1

Total Amt Awarded

26.1

Compensatory Awarded

26.1

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 an investment in Energous Corp. (WATT), purchased with the use of margin.

Notes

None.

Arbitrators

Jonathan H. Krotinger, Esq.

Broker-Dealers Named

Avenir Financial Group

Professionals

  • Cs: James Bouklas, Bouklas Gaylord LLP, Jericho, NY.
  • Rs: (AFGp) Michael Todd Clements, Wellington, FL. ISC.
  • Rs: (MTC) None.
  • Rs: (TAD) No-show.

TypeDisp

EmployeeMember

Allegation I

Compensatn

Short Caption

Eckerson v. LPL Financial

Allegation II

BreachContract

Forum

FINRA

Allegation III

Docket No

17-00155

Products

NP

Issue Date

2017-06-08

Situs

PP

State

PP

Clmd Compensatory

18.6

Total Amt Awarded

7.4

Compensatory Awarded

7.4

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 withheld fees he earned during his employment with Rs.

Notes

None.

Arbitrators

Sterling N. Frost

Broker-Dealers Named

LPL Financial LLC

Professionals

  • Cs: (KAE) None.
  • Rs: (LPLFLLC) Kirsten Patzer, Boston, MA. ISC.

TypeDisp

CustomerMember

Allegation I

Suitability

Short Caption

Wogan v. Questar Capital

Allegation II

Misreprestn

Forum

FINRA

Allegation III

Supervision

Docket No

16-02659

Products

MutualFunds

Issue Date

2017-06-08

Situs

Seattle

State

WA

Clmd Compensatory

179.2

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 ICON Eleven Fund LLC.

Notes

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

Arbitrators

William W. Haskell, Esq. - Chair; Katherine Hendricks, Esq.; Stephen E. DeForest, Esq.

Broker-Dealers Named

Questar Capital Corporation

Professionals

  • Cs: Adam Gana, Gana LLP, New York, NY.
  • Rs: (QCCorp) Jeffrey D. Hedlund, Faegre Baker Daniels LLP, Minneapolis, MN. OSC.

TypeDisp

SmallClms

Allegation I

Negligence

Short Caption

Ort v. Weninger

Allegation II

Supervision

Forum

FINRA

Allegation III

BreachFiducDty

Docket No

16-03333

Products

NP

Issue Date

2017-06-07

Situs

Milwaukee

State

WI

Clmd Compensatory

20.0

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 alleged that Rs failed to properly advise him regarding contributions to a Roth IRA.

Notes

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

Arbitrators

Rody P. Biggert, Esq.

Broker-Dealers Named

None.

Professionals

  • Cs: Pro se.
  • Rs: (DHW) Autumn Crowell, Boston, MA. ISC.
Any attempt to use robotics to download Awards posted on this WebSite or to gain access to the Awards on this WebSite in contravention of the Terms of Use Agreement is an unauthorized use, an abuse of the privileges extended to users of this WebSite, and, in our view, a violation of federal law.