Facts

Bolen Family Trust and Earl D. Bolen IRA filed a claim against Morgan Stanley Smith Barney and Christopher Price, in relation to asset allocation and investments in several debt securities.

PLAINTIFF'S CONTENTIONS:
Claimants alleged breach of fiduciary duty, unsuitability, misrepresentation, and failure to supervise.

Damages

Claimants sought $300,000 in compensatory damages, return on the their portfolio determined pursuant to the Well Managed Account Theory, punitive damages, and attorney fees.

Result

The arbitration panel denied claimants' claims, and recommended expungement from Price's registration records. One arbitrator dissented to the recommendation for expungement.

Other Information

ARBITRATORS: Elliott Finkel, Joseph L. Hagan, David Nielsen.