Facts

Claimant Robert Brink alleged that he entered into an agreement with respondent Jessica Cutrera to jointly develop clients and split resulting commissions from mutual funds, annuities, and recurring fees for providing Registered Investment Advisory services.

Brink filed a claim against Cutrera. Brink entered arbitration with BFT Financial Group LLC. Cutrera filed a counterclaim.

CLAIMANT'S CONTENTIONS:
As against Cutrera, Brink alleged breach of contract, fraud and deceit, quantum meruit, conversion, and breach of fiduciary duty.

As against BFT Financial Group, Brink alleged aiding and abetting, interference with contractual relations, breach of fiduciary duty, and failure to supervise

RESPONDENT'S CONTENTIONS:
BFT and Cutrera denied the allegations and asserted affirmative defenses.

In her counterclaim, Cutrera alleged breach of contract, unjust enrichment, and tortious interference with prospective economic advantage.

Damages

Brink sought $1 million in compensatory damages, as well as interest, attorney fees and costs. In her counterclaim, Cutrera sought dismissal of the claims as well as costs and fees, and damages of $70,000.

Result

The arbitration panel found Cutrera liable on Brink's claim of fraud, awarding Brink $266,000. The panel also found Brink liable on Cutrera's counterclaim, awarding her $31,301. Brink was, therefore, awarded a net claim of $234,699. The panel denied all claims against BFT Financial Group.

Other Information

ARBITRATORS: A. Joel Klein, J.D., Richard M. Norman, Tina L. Mitchell.