* 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 that they were unable to access funds in their securities account and seeking over $700,000 in total damages lose their case against Respondent broker-dealer.
Notes
All-Public Panel.
People & Entities
Arbitrators
Steven H. Gentry - Chair; Kirtley M. Thiesmeyer, Esq.; Maggie Soleimani
Broker-Dealers Named
Brex Treasury LLC
Professionals
Cs: Pro se through Timika Snorton, Costa Mesa, CA.
Rs: (BTLLC) Edrei Swanson, Brex Incorporated, Draper, UT. 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
Arbitrator awards broker his request for expungement of a customer complaint from his CRD record after finding the complaint was factually impossible, clearly erroneous, and/or false.
* 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 dismisses two customers (a power of attorney and trust) claims as a sanction pursuant to FINRA Rule 12212(c) (Discovery Violations) after the parties failure to comply with their order regarding the submission of a valid settlement letter withdrawing the claim or providing four sets of mutually agreeable dates to reschedule the hearings in this matter.
* 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 explains in great detail why it has decided to deny a group of foreign investors' claims that they were victims of fraud relating to their investments in various real estate projects in Florida that were in financial peril. The Panel found that said investors were unable to meet their burden of proof and did not establish competent evidence to prove such an allegation or any of their other claims asserted against Respondents.
* 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, two customers alleging that they suffered financial losses after Respondent broker-dealer failed to give adequate notice regarding the closing of futures positions in of their two accounts lose their case.
Notes
Please Note* This matter proceeded pursuant to Rule 12800 of the Code under the Special Proceeding option.
Arbitrators
Susan L. Walker, Esq.
Broker-Dealers Named
TD Ameritrade Incorporated
Professionals
Cs: Pro se.
Rs: (TDAInc) Kevin H. Lewis, Charles Schwab & Company Incorporated, San Francisco, CA. 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
In this raiding case, the Panel finds in favor of Respondent broker-dealer and grants in part its request for permanent injunction prohibiting Claimant broker for two years from soliciting or contacting 85 clients that he serviced while employed by Respondent.
Notes
PHL -- TRO granted. Raiding case (Counterclaim) -- Injunctive Relief Granted. Arbitrator Remarks.
Arbitrators
Tara A. LaClair, Esq. - Chair; Leonard M. Goldstein; John W. Jones, CFP
Broker-Dealers Named
IMA Wealth Incorporated; Access Capital LLC
Professionals
Cs: (SS & ACLLC) John D. Vaughn & Christopher W. Rowlett, Perez Vaughn & Feasby Incorporated, San Diego, CA.
Rs: (IMAWInc) Clayton J. Kaiser, Foulston Siefkin LLP, Wichita, KS. OSC and Michael A. Gross, Ulmer & Berne, 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
In this Consolidated Award, Claimant broker-dealer is awarded over $4 million dollars from Respondent brokers relating to amounts due and owing pursuant to the terms of their Indemnification and Promissory Note agreements. Said Claimant broker-dealer loses its raiding case against Respondent broker-dealer.
Notes
This is a Consolidated Award. Big $s. Rs PEI Global Partners LLC was not assessed any portion of the awarded amount. Rs John Bills, Schuyler Fabian, Adil Caner Sener, Robert Kavanagh, and Kevin Phillips were assessed. Raiding case.
Arbitrators
Michael S. Lazan, Esq. - Chair; Eric Zaidins; Richard M. Kosnik
Broker-Dealers Named
Cantor Fitzgerald & Company; PEI Global Partners LLC
Professionals
Cs: (CF&Co) David A. Paul, New York, NY. ISC.
Rs: (PEIGPLLC, JB, SF, ACS, RK & KP) Joshua D. Liston, Beys Liston & Mobargha, 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 awards Claimant broker expungement of a customer complaint from his CRD record after finding said complaint was factually impossible and false.
* 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 explains why it has decided to deny a customer's case against Respondent broker after finding that said customer failed to prove her claims or submit sufficient evidence that she is entitled to damages.
* 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 rep is held liable to Claimant broker-dealers for over $1 million in damages representing the amounts due and owing on a promissory note agreement.
Notes
Big $s. Arbitrator Remarks.
Arbitrators
Joseph C. Roberts, Esq.
Broker-Dealers Named
Morgan Stanley Smith Barney LLC; Morgan Stanley Smith Barney Financing LLC
* 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 raiding case, a Claimant broker-dealer alleging that a former employee distributed the company's confidential and proprietary information to approximately 200 clients for the purposes of soliciting their business is awarded damages, while said former employee loses his Counterclaim for defamation.
Notes
Raiding case.
Arbitrators
Irwin Venick - Chair; Douglas Charles Weinstein; Michael Edward Collins
Broker-Dealers Named
US Bancorp Investments Incorporated
Professionals
Cs: (USBIInc) Edward B. Magarian & Roxanna V. Gonzalez, Dorsey & Whitney LLP, Minneapolis, MN. OSC.
Rs: (MEJ) Amy C. Johnson, Britton Johnson PLLC, Lexington, KY.
Rs: (UBSFSInc) John Murphy, J. Murphy & Associates, New York, NY. OSC.
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