* 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 fraud with respect to his purchase of ATA Creativity Global SP AD stock loses his case against Respondent broker-dealer.
Notes
None.
People & Entities
Arbitrators
Helen Marinak Blohm, Esq. (fka Helen M. Marinak, Esq.)
Broker-Dealers Named
TD Ameritrade Incorporated
Professionals
Cs: Kevin P. Conway & Denis J. McGrath, Conway & Conway, 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 customer trust seeking $1.4 million in damages settles its claim against Respondent broker-dealer involving its placement in said broker-dealer's Yield Enhancement Options Strategy. The Arbitrator explains in great detail with factual background why she has decided to grant a Non-Party broker's request for expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. Panel composition issue. Arbitrator Remarks -- Expungement granted. Explained Award.
Arbitrators
Kimberly A. Gilmour, Esq.
Broker-Dealers Named
UBS Financial Services Incorporated
Professionals
Cs: Matthew N. Thibaut, Haselkorn & Thibaut, Juno Beach, FL.
Rs: (UBSFSInc) Zachary M. Schmitz & David L. Goldberg, Katten Muchin Rosenman 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
After two customers settle their case against Respondent broker-dealer, an Arbitrator provides factual background and explains in great detail why he has decided to grant a Non-Party broker's request for expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. Rescission Requested. Arbitrator Remarks -- Expungement granted.
Arbitrators
Seth L. Finkel, Esq.
Broker-Dealers Named
David Lerner Associates Incorporated
Professionals
Cs: Pro se.
Rs: (DLAInc) Anna K. Stark, Thompson Hine 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
Two customers alleging that their money was invested in high-risk illiquid bonds instead of concentrating more of their money in equities lose their case against Respondent broker-dealer.
Notes
Majority Public Panel.
Arbitrators
Ellen J. Abrams - Chair; William Kent Brown, Esq.; Michael Adam Gross, Esq.
Broker-Dealers Named
CGIS Securities LLC
Professionals
Cs: Jason Gottlieb, Morrison Cohen 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 customer alleging unsuitable investments in various stocks and exchange traded funds such as Facebook, Southwest Airlines, among others, settles his case against Respondent broker-dealer. Non-Party associated person is awarded expungement of this matter from his CRD record.
Notes
This is a Stipulated Award. Majority Public Panel. Arbitrator Remarks -- Expungement granted.
Arbitrators
Kenneth R. Starr, Esq. - Chair; Kevin M. Schmitt, Esq.; Michael Anthony Barrella
Broker-Dealers Named
LPL Financial LLC
Professionals
Cs: Chase Carlson, Carlson Law PA, Miami Beach, FL.
Rs: (LPLFLLC) Neil S. Baritz & Heather Cooper, Baritz & Colman, Boca Raton, 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
Claimant broker-dealer loses its breach of contract case seeking indemnification relating to their allegation that they were erroneously named in a prior FINRA expungement case (Case Number 22-02082) brought by Respondent after the Arbitrator determined that said broker-dealer was not entitled to such relief. However, Claimant was awarded monetary sanctions in the form of attorney fees relating to the late filing of Respondent broker's Final Submissions.
Notes
Please Note* This matter proceeded pursuant to Rule 13800 of the Code. Pre-Hearing Adjudication -- Full Dismissal. Sanctions imposed. Arbitrator Remarks.
Arbitrators
Chase Boone Saunders, Esq.
Broker-Dealers Named
Southeast Investments NC Incorporated
Professionals
Cs: (SINCInc) Alan M. Wolper & Blaine F. Doyle, Ulmer & Berne, 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 small claims arbitration, a customer alleging execution errors and sell outs with respect to his investment in the SPDR S&P 500 ETF Trust loses his case against Respondent broker-dealer.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code.
* 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 investor is awarded $1.8 million in compensatory damages from Respondent broker-dealer relating to her purchase of a stock called WisdomTree Investments Inc. Two Non-Party brokers lose their respective requests for expungement of this matter from their CRD records.
Notes
Big $s. Rescission Requested. All-Public Panel.
Arbitrators
Howard Alan Grinsberg - Chair; Benjamin L. Anderson; Qiana Martin
Broker-Dealers Named
Morgan Stanley Smith Barney LLC
Professionals
Cs: Barry R. Lax & Brian J. Neville & Matthew C. Plant, Lax & Neville, 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 customer seeking disgorgement relating to his investment in various stocks including Dave & Busters Entertainment Inc. settles his case. All three named Respondent brokers are awarded expungement of this matter from their respective CRD records.
Notes
This is a Stipulated Award. Arbitrator Remarks -- Expungement granted.
Arbitrators
Peter Khalil
Broker-Dealers Named
Alexander Capital Limited Partnership
Professionals
Cs: David Vermont, Securities Arbitration Law Group PLLC, Washington, DC.
* 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 non-appearing registered representative is held liable to Claimant broker-dealers' for the amount due and owing pursuant to an Offer Letter Agreement he signed as part of his employment.
Notes
Please Note* This matter proceeded pursuant to Rule 13800 of the Code.
Arbitrators
Thomas Benjamin Salzer, Esq.
Broker-Dealers Named
Susquehanna Financial Group LLLP; Susquehanna International Group LLP
* 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 is awarded expungement of eight customer complaints from appearing on her CRD record involving the purchase of Puerto Rican securities.
* 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 that Respondent broker-dealer misrepresented his investment in Atlas U.S Tactical Income Fund and seeking rescission of said investment loses his case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. Rescission Requested.
Arbitrators
Steven Gerard Goerke, Esq.
Broker-Dealers Named
First Southern LLC
Professionals
Cs: Guillermo J. Silva-Wiscovich, Bauza Brau et al., San Juan, PR.
Rs: (FSLLC) Alan M. Wolper, Ulmer & Berne, 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
A Panel orders Respondent broker to rescind the filing of the Form 1099C issued against Claimant but denies his request for monetary relief. The Panel also orders Claimant broker to pay $5,000 to Respondent as a monetary sanction as a result of discovery violations for his failure to comply with the Panel Chair's previous orders regarding the production of documents.
Notes
Sanctions imposed.
Arbitrators
Beverly F. Druitt - Chair; James A. Cummings; Stuart H. Dunn, Esq.
Broker-Dealers Named
None.
Professionals
Cs: (DJG) Kenneth T. Stout & Thomas M. Wolf, O'Hagan Meyer PLLC, Richmond, VA.
Rs: (MES) Joseph P. Allgor, Herskovits PLLC Attorneys at Law, New York, NY.
Cs: (LLL) David I. Hantman, Bressler Amery & Ross, New York, NY.
Rs: (MSSBLLC) Gina Shlaferman, St. Petersburg, FL. ISC.
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