Morgan Stanley & Co. Inc. v. Ronald Craig Betten
Published: Jan. 25, 2014 | Result Date: Jan. 3, 2014 | Filing Date: Jan. 1, 1900 |Case number: 10-04760 Arbitration – $241,226
Facts
Morgan Stanley & Co Inc. filed for arbitration against Ronald Betten.
Contentions
PLAINTIFF'S CONTENTIONS:
Morgan Stanley asserted causes of action for breach of three promissory notes that were executed by Betten during his employment with Morgan Stanley.
DEFENDANT'S CONTENTIONS:
Betten denied Morgan Stanley's allegations, and asserted various affirmative defenses. He also filed a counter-claim, asserting causes of action for fraud in the inducement, breach of contract, violation of California Labor Code, and tortious interference with contract.
Damages
Morgan Stanley requested the principal balance on all three notes, which totaled to $221,226. Betten sought dismissal of Morgan Stanley's claims, and compensatory damages of at least $750,000.
Result
The arbitration panel found that Betten was liable to Morgan Stanley for $221,226, plus interest.
Other Information
ARBITRATORS: Alan Stamm, Ronald L. Cameron and Larry Haugaard.
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