Angela C. Kamahi, Isaac Kamahi v. Banc of America Investment Services Inc., Matthew Beard Lord
Published: Mar. 12, 2011 | Result Date: Feb. 9, 2011 | Filing Date: Jan. 1, 1900 |Case number: 08-03821 Arbitration – $50,000
Court
FINRA
Attorneys
Claimant
Respondent
Facts
Angela Kamahi and Isaac Kamahi filed a complaint against Banc of America Investment Services inc. (BAI) and Matthew Lord relating to an investment in AXA Equitable Accumulator Elite Annuities.
Damages
Claimants sought cancellation of an annuity issued by AXA Equitable resulting in damages of $1,566,000.
Injuries
Claimants asserted the following causes of action: negligence, breach of fiduciary duty; negligence, breach of suitability; negligence, misrepresentation; intentional misrepresentation; intentional misrepresentation; negligence, failure to supervise; and breach of contract.
Result
The FINRA panel found BAI liable for the sum of $35,000 in compensatory damages and Lord for $15,000 in compensatory damages.
Other Information
ARBITRATORS: Nancy J. Spieczny, Vytas A. Tarulis, Cynthia B. Stone.
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390