Contracts
Breach of Contract
Fraud
Thomas C. Souran v. E Trade Securities LLC
Published: Mar. 18, 2017 | Result Date: Jan. 30, 2017 | Filing Date: Jan. 1, 1900 |Case number: 16-01803 Arbitration – Respondent
Facts
Thomas Souran filed a claim against E Trade Securities LLC.
Contentions
CLAIMANT'S CONTENTIONS:
Respondent allegedly closed down claimant's accounts without his consent and charged interest on the accounts after reinstatement. Claimant asserted causes of action for breach of contract, fraud, breach of fiduciary duty, deceptive trade practices, conversion, civil RICO, and theft.
RESPONDENT'S CONTENTIONS:
Respondent denied the allegations.
Damages
Souran sought $9,000 in damages.
Result
The arbitrator denied Souran's claims in their entirety. Nevertheless, the arbitrator found E Trade liable to Souran for $325 as reimbursement of the FINRA filing fee.
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