Jeffrey Franklin, Moose Productions Inc. DBPP DTD 1/2/03 Jeff Franklin TTEE Moose Productions Inc. PSP DTD 1/23/84 Jeff Franklin TTEE, and The Jeff Franklin IRA v. Oppenheimer & Co. Inc.
Published: Apr. 27, 2013 | Result Date: Apr. 10, 2013 | Filing Date: Jan. 1, 1900 |Case number: 09-04414 Arbitration – Respondent
Court
FINRA
Attorneys
Claimant
John D. Singer
(Singer Deutsch LLP)
Respondent
Devin A. Donohue
(Lombardi & Donohue LLP)
Robert B. Ericson
(Albert & Will LLP)
Facts
Jeffrey Franklin filed suit against Oppenheimer & Co. Inc., asserting causes of action for fraud, breach of contract, negligence, negligent supervision, and respondeat superior. The causes of action related to Franklin's investments in various alternative investments, including Oppenheimer Private Equity Fund I LP and others.
Damages
Franklin sought $7,000,000 in compensatory damages at the beginning of the hearing, plus attorneys' fees and interest. By the end of the hearing, Franklin withdrew his request for attorneys' fees and reduced his damages claim to $3,317,400 plus interest.
Result
The arbitration panel denied Franklin's claims in their entirety.
Other Information
Arbitrators: Ralph B. Perry, III, Paul White and Michael Hachigian
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