Ronald L. Lawrence, Janice L. Lawrence, Recruiter's Resource Inc.
Published: Oct. 4, 2008 | Result Date: Aug. 20, 2008 | Filing Date: Jan. 1, 1900 |Case number: 07-02489 Arbitration – Claims Denied
Court
Arbitration Forum
Attorneys
Claimant
Mark A. Schadrack
(Lewis, Brisbois, Bisgaard & Smith LLP)
Respondent
Paul S. Chan
(Bird, Marella PC)
Facts
Claimants Ronald and Janice Lawrence, and Recruiter's Resource Inc., alleged respondent Charles Schwab & Co. Inc. used an unqualified employee to assist and advise claimants on their pension plan account. As such, claimants contended that respondent acted negligently and breached a number of contractual as well as fiduciary duties owed to claimants, which directly and proximately caused $370,000 in damages. Respondent denied the allegations and asserted affirmative defenses.
Damages
Claimants sought at least $370,000 in compensatory damages, plus interest; costs and reasonable attorney fees; as well as any other relief deemed appropriate.
Result
Claimants' claims were dismissed.
Other Information
The panel denied respondent's motion to exclude claimants' Exhibit 18. The parties agreed that the award may be executed in counterpart copies or that a handwritten, signed award may be entered. ARBITRATORS: Morris S. Getzels, Victoria E. Johnson, Valerie Lewis.
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