James P. Beaty, Trustee of the Beaty Revocable Survivor's Trust v. Morgan Stanley & Co. Inc.
Published: Oct. 9, 2010 | Result Date: Sep. 14, 2010 | Filing Date: Jan. 1, 1900 |Case number: 09-05230 Arbitration – Respondent
Facts
Claimants James Beaty, Trustee of the Beaty Revocable Survivor's Trust, and U/I/D June 5, 1990 filed a claim against respondent Morgan Stanley & Co., stemming from claimant's investment in preferred shares of Fannie Mae and Freddie Mac.
Contentions
CLAIMANTS' CONTENTIONS:
Claimants alleged misrepresentations and omissions based on common law fraud, misrepresentations and omissions based on California securities fraud, breach of fiduciary duty, violation of NASD Conduct Rules, negligence, and breach of contract.
RESPONDENT'S CONTENTIONS:
Respondent denied the claims.
Damages
Claimant sought $109,146 in compensatory damages, interest, punitive damages, financial elder abuse remdies, attorney fees, and costs.
Result
The arbitration panel denied claimant's claims.
Other Information
ARBITRATORS: Jonathan H. Hathaway, John J. Fitzpatrick Jr., Robert M. Hirsch.
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390