UBS Financial Services Inc. v. Robert S. Swagger
Published: Jul. 23, 2011 | Result Date: May 27, 2011 | Filing Date: Jan. 1, 1900 |Case number: 10-02304 Arbitration – $296,981
Facts
UBS Financial Services Inc. filed a claim against Robert Swagger in relation a loan provided to Swagger by UBS while he was employed by UBS.
Contentions
CLAIMANT'S CONTENTIONS:
Claimant alleged breach of contract and unjust enrichment. UBS claimed that Swagger declined to uphold his contractual obligations according to a promissory note, and owed $215,206.47 on the loan.
RESPONDENT'S CONTENTIONS:
Respondent argued that because he was no longer employed by UBS, he was not bound to any arbitration proceeding. He also claimed that claimant defamed him in the Form U-5 filed by UBS with FINRA.
Damages
Claimant sought $215,206.47, and respondent sought $2,200,000.
Result
The arbitration panel awarded respondent $215,206.47 under the note plus $44,101.56 in interest, $27,777.50 in attorney fees, and $9,896.23 in costs. The decision was rendered in respondent's absence.
Other Information
FILING DATE: William M. Howard, Ph.D., Brian A. Maris, Irving Mendes.
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