Robert N. Stephens Living Trust v. UnionBanc Investment Services LLC
Published: Mar. 26, 2011 | Result Date: Feb. 14, 2011 | Filing Date: Jan. 1, 1900 |Case number: 09-06555 Arbitration – Equitable Agreement; Dismissal
Court
FINRA
Attorneys
Claimant
Respondent
G. Thomas Fleming III
(Jones, Bell, Abbott, Fleming & Fitzgerald LLP)
Kasumi Takahashi
(Jones Bell Abbott Fleming & Fitzgerald LLP)
Facts
Robert N. Stephens Living Trust entered into arbitration with UnionBanc Investment Services LLC regarding multiple investments in corporate bonds.
Contentions
CLAIMANT'S CONTENTIONS:
The Trust alleged breach of fiduciary duty, breach of contract, omission of material facts, and failure to supervise.
RESPONDENT'S CONTENTIONS:
UnionBanc denied the allegations, asserting various affirmative defenses.
Damages
The Trust sought compensatory damages of $1,094,817, consequential damages, interest, and costs.
Result
Following a settlement, the Trust requested dismissal, and the arbitration panel recommended expungement of the arbitration from non-party Theresa Allen's registration records.
Other Information
ARBITRATORS: Robert C. Albini, Richard M. Norman, Anna Marie Turco.
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