Bruce Vazzana, Ann Vazzana, individually and as trustee of the Vazzana Family Trust and as owners of Vazzana Underground Construction v. Thomas Edward Jandt, Newport Coast Securities Inc.
Published: Mar. 25, 2017 | Result Date: Jan. 13, 2017 | Filing Date: Jan. 1, 1900 |Case number: 15-03218 Arbitration – Expungement
Court
FINRA
Attorneys
Claimant
Lars K. Soreide
(Soreide Law Group)
Respondent
Elizabeth A. Lowery
(Freeman, Mathis & Gary LLP)
Facts
Bruce Vazzana, Ann Vazzana, individually and as trustee of the Vazzana Family Trust and as owners of Vazzana Underground Construction filed a complaint against Thomas Jandt and Newport Coast Securities Inc., in connection with their investments in private placements of U.S. Energy and Adwar Drilling Fund II.
Contentions
CLAIMANTS' CONTENTIONS:
Claimants asserted causes of action for negligence, breach of fiduciary duty, negligent supervision, breach of contract, and fraud.
RESPONDENTS' CONTENTIONS:
Respondents denied the allegations.
Result
Claimants withdrew their claims against Jandt and ultimately reached a settlement with Newpoart Coast. Jandt then requested the expungement of his CRD records, which claimants did not oppose. The FINRA Panel ultimately recommended the expungement of Jandt's records.
Other Information
ARBITRATORS: Joseph C. Watson, Owen Frances, Leslie Marie Hopp.
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