ARBchek - Arbitrator Research Base

1. Southeast Investments v. Prewette FINRA ID #23-00454 (Charlotte, NC, 2023-08-18) – 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.

2. Busch v. Morgan Stanley FINRA ID #21-00203 (New York, NY, 2023-08-21) – 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.

3. Garofalo v. Shelton FINRA ID #22-01916 (Richmond, VA, 2023-08-22) – 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.