Facts

Lawrence Ngou filed an action against DeWaay Financial Network LLC and Lawrence Michael LaBine a/k/a Larry LaBine in relation to investments placed in Behringer Harvard and KBS REITs and Domin-8.

PLAINTIFF'S CONTENTIONS:
Claimant alleged breach of fiduciary duty based on suitability and failure to supervise, negligence, common law fraud, California Corporations Code Section 25401 violations, California Welfare and Institutions Code Section 15600 violations (The California Elder Abuse and Dependant Adult
Civil Protection Act), and California Civil Code Section 3345 violations.

DEFENDANTS' CONTENTIONS:
Respondents denied the claims of misconduct.

Damages

Claimant sought $398,000 in compensatory damages, $100,000 in consequential damages, $100,0000 in compensation for emotional distress, and punitive and exemplary damages.

Result

The arbitration panel awarded $100,000 as against respondents jointly and severally upon the condition that the claimant will assign any bankruptcy proceeds from Domin-8 to respondents.