* 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 real estate investment trusts and equity stocks loses her case against Respondent broker-dealer. Non-Party registered representative loses his request for expungement of this matter from his CRD record.
Notes
Rescission Requested. All-Public Panel.
Arbitrators
Laurel Littman Gothelf, MPH - Chair; Joseph C. Roberts, Esq.; Gary H. Kahn
Broker-Dealers Named
Calton & Associates Incorporated
Professionals
Cs: Mark Tepper & Brett Alaca, M.A. Tepper PA, Fort Lauderdale, FL.
Rs: (C&AInc) Lloyd R. Schwed & Bailey Fore, Schwed Kahle & Kress, Palm Beach Gardens, FL. OSC and Jane E. Schwed, Hall Griffin LLP, Santa Ana, 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
Claimant registered rep wins his request for expungement of a complaint from appearing on his CRD record despite the objection of the customer who submitted said complaint.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Arocles Aguilar
Broker-Dealers Named
Wells Fargo Clearing Services LLC
Professionals
Cs: (CND) Benjamin Winograd, HLBS Law, Westminster, CO.
Rs: (WFCSLLC) Patricia Cowart, Fort Lauderdale, FL. ISC.
* 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 Majority-Public Panel grants Respondent broker-dealer's Pre-Hearing Motion to Dismiss pursuant to Rule 12212(c) of the Code for the customer's failure to comply with the Chairperson's Order relating to discovery and the production of documents and information. The Panel also found that said customer failed to prosecute his claims.
Notes
Pre-Hearing Adjudication -- Full Dismissal. Sanctions imposed. Majority Public Panel. Arbitrator Remarks.
Arbitrators
Robert E. Jenks - Chair; H. Stuart Waxman; Edward Banian
Broker-Dealers Named
TD Ameritrade Incorporated
Professionals
Cs: Pro se.
Rs: (TDAInc) Kendra S. Canape, Gordon Rees et al., Irvine, CA.
* 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 misrepresentation with respect to the purchase of securities lose their case against Respondent broker-dealer and broker. Respondent broker is granted expungement of this matter from his CRD record despite the objection of the customers.
Notes
Arbitrator Remarks -- Expungement granted.
Arbitrators
Charles G. Michaels, Esq.
Broker-Dealers Named
Edward Jones
Professionals
Cs: Pro se.
Rs: (EDJ&CLP & DAC) Darren Goodman, Tempe, AZ. ISC.
* 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 alleging exploitation of an elderly individual settles its claims against Respondent broker-dealer. Non-Party broker is granted expungement of this matter from his CRD record.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code. This is a Stipulated Award. Arbitrator Remarks -- Expungement granted.
* 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 negligent supervision with respect to the purchase of alternative investments such as FS Energy settle their claims against Respondent broker-dealer. Non-Party broker is granted his request for expungement of this matter from appearing on his CRD record.
Notes
This is a Stipulated Award. Rescission Requested. All-Public Panel. Arbitrator Remarks -- Expungement granted.
Arbitrators
Nanci Sondra Landy - Chair; Erika Deutsch Rotbart; Robert Stanley Zack
Broker-Dealers Named
LPL Financial LLC
Professionals
Cs: Lars Soreide, Soreide Law Group PLLC, Pompano 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
A customer alleging unsuitability and unauthorized trading with respect to the purchase of various equity stocks and exchange-traded funds including Proshares Ultra VIX Short Term Futures ETF and Square Inc. is awarded damages from Respondent broker-dealer and a non-appearing broker. Two named brokers are granted their requests for expungement of this matter from their respective CRD records.
Notes
Rs Robert Joseph Calamunci Sr., Craig Jay Sherman and Christopher Joseph Nelson were not assessed any portion of the awarded amount. Rs Wynston Hill Capital LLC and Joseph Morris Thurnherr was assessed. Majority Public Panel. Arbitrator Remarks -- Expungement granted.
Arbitrators
Avery B. Goodman, Esq. - Chair; Mark A. Frankel, JD; David Evans Rosedahl, Esq.
Broker-Dealers Named
Wynston Hill Capital LLC
Professionals
Cs: Daniel D'Costa, D'Costa Law, Hicksville, NY.
Rs: (WCLLC & RJC) Paul Goodman, Cyruli Shanks et al., New York, NY. OSC.
Rs: (CJS) David A. Allen, Allen & Thomas, 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
An All-Public Panel awards one customer damages relating to the alleged misrepresentation by Respondent broker-dealer of its Yield Enhancement Strategy and denies the claims brought by another named customer. Non-Party broker loses his request for expungement of this matter from his CRD record.
Notes
All-Public Panel. Arbitrator Remarks.
Arbitrators
Lawrence E. Dube, Jr., Esq. - Chair; Peter H. Goldberg; Anitra Oluonye
Broker-Dealers Named
UBS Financial Services Incorporated
Professionals
Cs: Samuel B. Edwards & Ryan S. Cook, Shepherd Smith et al., Houston, TX.
Rs: (UBSFSInc) 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
A group of brokers alleging that Respondent broker-dealer paid a former financial advisor retirement compensation by deducting from the gross revenues of The JW Alati Group despite said financial advisor being ineligible for compensation under the Joint Production Memorandum Agreement lose their claim for damages.
Notes
Panel composition issue.
Arbitrators
Patrick R. Sughroue, Esq. - Chair; Wayne Carl Hallquist; Timothy Guerriero
Broker-Dealers Named
The JW Alati Group; Morgan Stanley Smith Barney LLC
Professionals
Cs: (TJWAGp, RA, RB, JMG & ES) David M. Foster, D.M. Foster PC, Farmington Hills, MI.
Rs: (MSSBLLC) Miles D. Hart & Johnathan M. Sterling, Saretsky Hart et al., Birmingham, MI. 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 prevails on his compensation claim and is awarded compensatory damages against Respondent broker-dealer. However, said broker loses his request for reformation of defamatory information from appearing on his Form U5 record.
Notes
None.
Arbitrators
Joseph J. Arata, Esq. - Chair; Richard W. Cutler, Esq.; Bertrand Charles Sellier
Broker-Dealers Named
Deutsche Bank Securities Incorporated
Professionals
Cs: (TTZ) Jonathan S. Sack, Sack & Sack, New York, NY.
Rs: (DBSInc) Jill Rosenberg, Orrick Herrington & Sutcliffe, 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
An Arbitrator explains why he has decided to deny a broker's request for reformation of defamatory information from appearing on his Form U5 record finding that said broker failed to establish that the challenged disclosures were defamatory in nature, misleading, inaccurate and/or erroneous.
* 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
Respondent broker is held liable to Claimant broker-dealer for the amount due and owing pursuant to a independent contractor agreement and a promissory note.
Notes
Please Note* This matter proceeded pursuant to Rule 13800 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
Two customers alleging unsuitable options trading voluntarily dismiss their claims with prejudice against Respondent broker-dealer. Non-Party broker loses his request for expungement of this matter from his CRD record.
Notes
All-Public Panel.
Arbitrators
Thomas A. Martin, Esq. - Chair; G. Maynard Green, JD; Andrea Joan Douglas
Cs: (CWH) Brian Luther, FA Expungement LLC, Denver, CO.
Rs: (ACCorp) No-show.
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