* 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 claims against Respondent broker-dealers leaving Respondent broker solely liable for nearly $500,000 in damages inclusive of $100,000 in punitive damages. Respondent broker is also held liable to one named broker-dealer on its Cross-Claim for indemnification.
Notes
Punitive Damages Awarded. Rescission Requested. Rs ProEquities Incorporated and Transamerica Financial Advisors Incorporated were not assessed any portion of the awarded amount. Rs Narinder Kaur Singh was assessed. Selling Away case. All-Public Panel. Arbitrator Remarks -- Case law cited.
People & Entities
Arbitrators
John H. Fearnow - Chair; W. Michael Kelley, Esq.; Floyd Gerry Hoffman
* 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 misrepresentation with respect to the process of transferring funds from an IRA account loses her 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
A customer settles her claims against Respondent broker-dealer with prejudice involving her investment in REITs. and voluntarily dismisses her claims against Respondent broker. One Arbitrator dissents with respect to the granting of expungement on behalf of Respondent broker.
Notes
This is a Stipulated Award. All-Public Panel. Arbitrator Remarks -- Arbitrator dissents with explanation. Expungement granted.
Arbitrators
Milton N. Gross - Chair; Robert Rosen (Dissents); Walter Thompson, II
Broker-Dealers Named
First Allied Securities Incorporated
Professionals
Cs: Robert B. Volunsky, Weltz Kakos et al., Mineola, NY.
Rs: (FASInc & ECY) Elizabeth Lowery, Freeman Mathis & Gary, Hermosa Beach, CA. 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 settles her claims against Respondent broker-dealer regarding Respondent broker's recommendation to transfer a portion of her retirement assets from her variable annuities account to Capstone Financial, a company owned and controlled by said broker. Respondent broker is order to indemnify Respondent broker-dealer stemming from the settlement with the customer.
Notes
This is a Stipulated Award. Selling Away case. Rule 12801 default judgment (Cross-Claim). Panel composition issue. Arbitrator Remarks.
Arbitrators
Gary M. Landau, Esq.
Broker-Dealers Named
RM Stark & Company Incorporated; Capstone Financial Group LLC
Professionals
Cs: Matthew N. Thibaut, Haselkorn & Thibaut, Palm Beach, FL.
Rs: (RMS&CInc) Richard A. D'Amura, D'Amura & Zaidman, Austin, TX. OSC.
Rs: (TJM) None.
Rs: (CFGLLC) No-show. -- Did not submit to arbitration.
* 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 loses his case against two Respondent brokers after alleging he was unable to perform trades at the outset of the Coronavirus pandemic outbreak after he deposited a 3000 share stock certificate into his account.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code.
Arbitrators
Carl Henry Perdue
Broker-Dealers Named
None.
Professionals
Cs: Pro se.
Rs: (MTI & JRV) Neil S. Baritz, Baritz & Colman, Boca Raton, FL.
* 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 broker-dealer's Pre-Hearing Motion to Dismiss pursuant to FINRA Rule 12206 (Six-year Eligibility Rule). The customer's claim involved his investment in Patriot Coal Corporation stock.
Notes
Pre-Hearing Adjudication -- Full Dismissal. All-Public Panel. Arbitrator Remarks.
Arbitrators
Raymond M. Kirtley - Chair; Michael J. Meeusen, Esq.; Jill Elise Vestal
* 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 is awarded damages on its breach of Retirement Agreement and Non-Retirement Agreement against Respondent broker. Respondent broker loses his Counterclaim for unpaid expense allowance.
Notes
Please Note* This matter proceeded pursuant to Rule 13800 of the Code. Discrimination case.
Arbitrators
Catherine M. Gallagher
Broker-Dealers Named
Oppenheimer & Company Incorporated
Professionals
Cs: (O&CInc) John McGuire, New York, NY. ISC.
Rs: (DGH) John E. Sutherland, Brickley/Sears PA, Boston, MA.
* 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, Respondent broker-dealer is held liable to a customer for failure to execute a trade relating to the Fidelity Focused High Income Fund.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code.
Arbitrators
Jeffrey P. Petrucelly, Esq.
Broker-Dealers Named
Alight Financial Solutions LLC
Professionals
Cs: Pro se through Zach Zunshine, Boston, MA.
Rs: (AFSLLC) Matthew Chotkowski, Charlotte, NC. ISC.
Rs: (PSLLC) Randolph F. Pistor II, Ann Arbor, MI. ISC.
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