Lyn Freeman, individually and as Trustee of the Lyn A. Freeman Revocable Trust U/A Dtd 11/05/12 v. Jonathan Henry Lee, Robert W. Baird & Co. Inc.
Published: Mar. 25, 2017 | Result Date: Jan. 25, 2017 | Filing Date: Jan. 1, 1900 |Case number: 14-02515 Arbitration – Expungement Denied
Court
FINRA
Attorneys
Claimant
Melinda J. Steuer
(Law Offices of Melinda Jane Steuer)
Respondent
Edward S. Zusman
(Markun, Zusman, Freniere & Compton LLP)
Facts
Lyn Freeman, individually and as Trustee of the Lyn A. Freeman Revocable Trust U/A Dtd 11/05/12 filed a claim against Jonathan Lee and Robert W. Baird & Co. Inc., in connection with Freeman's investments in, among other things, Prudential variable annuities, oil and gas units, bonds, and Eaton Vance Global Macro Fund.
Contentions
CLAIMANT'S CONTENTIONS:
Claimant asserted causes or action for violation of California Corporations Code Sections 25401, 25504, and 25504.1; intentional misrepresentation, negligent misrepresentation, fraud (false promise), fraud (omissions), breach of fiduciary duty (suitability and supervision), and professional negligence.
RESPONDENTS' CONTENTIONS:
Respondents contended that the claim should be dismissed in its entirety. Lee sought the expungement of his CRD records.
Damages
Freeman sought, among other things, a rescission of the annuities, compensatory damages, and other relief.
Result
The parties reached a settlement. The FINRA Panel, however, ultimately denied Lee's expungement request.
Other Information
ARBITRATORS: Jonathan H. Krotinger, Urs Laeuchli, Robert James Favole.
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