Facts

The claimant was Landis S. Everson as Trustee for the Landis S. Everson Family Trust. The respondent was Merrill Lynch, Pierce, Fenner & Smith Inc. and Martin Barry Epperson. Against the respondent, the claimant alleged causes of action for negligence, negligent misrepresentation, intentional misrepresentation, and fraud and deceit involving securities, including ADC Telecommunication, Worldcom and Verizon. In an amendment to his Statement of Claim, the claimant added an allegation that $30,000 was missing from a deposit that the claimant made to Respondent Merrill Lynch, Pierce, Fenner & Smith Inc.

The respondent denied all allegations of wrongdoing.

Damages

The claimant sought $215,307.59 in compensatory damages, $3,000,000 in punitive damages, prejudgment interest at 10 percent per annum and costs. In the amendment, the claimant increased the amount of compensatory damages sought for a total of $245,307.59. The respondents requested dismissal with prejudice of the claimant's Statement of Claim and the amendment, in its entirety. The respondents also sought expungement of all reference to the matter from Respondent Epperson's Central Registration Depository (CRD) record and costs.

Result

The claimant's claims were denied in their entirety. Expungement of all reference to the arbitration from Respondent Epperson's CRD records was recommended. Per respondent's counsel, the court entered an order confirming the arbitration award and ordered the matter expunged from Mr. Epperson's CRD record.