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
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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