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Securities
Breach of Fiduciary Duty
Misrepresentation, Unsuitability

Ronald D. Hershey, Kara L. Hershey v. Merrill Lynch; Pierce, Fenner & Smith Inc.; Phil Hammitt

Published: Feb. 28, 2009 | Result Date: May 20, 2008 | Filing Date: Jan. 1, 1900 |

Case number: 02-00787 Arbitration –  Dismissed with prejudice

Court

Arbitration Forum


Attorneys

Claimant

John Thomas Dzialo


Respondent

Peter B. Dolan


Facts

Claimants Ronald Hershey and Kara Hershey sued Merrill Lynch, Pierce, Fenner & Smith Inc. and Phil Hammit for breach of fiduciary duty, unsuitability, unauthorized trading, churning, misrepresentation and omission of facts, negligence, and failure to supervise in relation to stock transactions and municipal bonds.

Damages

The claimants requested $3,000,000 in damages.

Result

The arbitration panel dismissed the claims with prejudice.

Other Information

ARBITRATORS: David Zollman, Carl W. Vaicek Jr., Michael D. Harrison.


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