Beth M. Goldman, Jay Boekelheide, Goldman-Boekelheide Family Trust, Beth M. Goldman IRA Rollover (1), Beth M. Goldman IRA Rollover (2), Jay Boekelheide IRA, Jay Boekelheide Film Keogh v. Lincoln Financial Advisors Corp., Stewart John Viets, Phillip Joseph Cordano
Published: Jun. 18, 2011 | Result Date: May 4, 2011 | Filing Date: Jan. 1, 1900 |Case number: 09-07154 Arbitration – Expungement
Court
FINRA
Attorneys
Claimant
Respondent
Ralph W. Robinson
(Wilson, Elser, Moskowitz, Edelman & Dicker LLP)
Facts
Beth Goldman, Jay Boekelheide, Goldman-Boekelheide Family Trust, Beth M. Goldman IRA Rollover (1), Beth M. Goldman IRA Rollover (2), Jay Boekelheide IRA, and Jay Boekelheide Film Keogh filed a complaint against Lincoln Financial Advisors Corp., Stewart Viets, and Phillip Cordano, related to asset allocation and investment strategy of Claimants' investment portfolio.
Damages
Claimants sought $110,000 in compensatory damages as to each Claimant as well as pre- and post-judgment interest, fees and costs, and other relief.
Injuries
Claimants asserted the following causes of action: breach of contract; professional negligence; gross negligence; intentional misrepresentation; negligent misrepresentation; concealment and breach of fiduciary duty; and unsuitable investments.
Result
The arbitrator denied all claims of all claimants with prejudice and recommended expungement of the records for respondents Viets and Cordano. The arbitrator found claimants' allegations, while not knowingly or negligently untrue, were false and found respondents' conduct to be appropriately prudent and exemplary throughout the brief relationship.
Other Information
CLAIMANT'S NOTE: Claimant contends that the arbitrator's uninvited comments were improper and not supported by the record.
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