Claire F. Goldsmith Living Trust, Claire F. Goldsmith v. Sagepoint Financial Inc., Gary William Vanden Busch
Published: Jun. 9, 2012 | Result Date: May 4, 2012 | Filing Date: Jan. 1, 1900 |Case number: 10-02683 Arbitration – $94,780
Court
FINRA
Attorneys
Claimant
Respondent
G. Thomas Fleming III
(Jones, Bell, Abbott, Fleming & Fitzgerald LLP)
Facts
The Claire F. Goldsmith Living Trust and Claire Goldsmith filed an arbitration claim against Sagepoint Financial Inc. and Gary Busch in relation to investments Atel Capital Growth Fund IV LCC and the State of Oregon Public Employee Retirement System Tier 1 Retirement Account.
Contentions
CLAIMANT'S CONTENTIONS:
Claimants alleged negligence, negligent supervision, negligent misrepresentation, breach of fiduciary duty, violation of Oregon Securities Act, and violation of FINRA conduct rules.
RESPONDENT'S CONTENTIONS:
Respondent Sagepoint denied the allegations.
Damages
Claimants sought back payment based on pension rollover amounting to $228,000, $94,780 for statutory violation as to the investment, and $700,00 in damages for a comparable annuity after deducting present value.
Result
The arbitration panel awarded claimants $94,780 plus interest.
Other Information
Gary W. Vanden Busch appeared pro se. ARBITRATORS: Larry T. Coady, Justine Fischer, James H. Ruff.
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