Contracts
Breach of Contract
Breach of Fiduciary Duty
Theodore Booher and Dianne Booher, as Trustees of the Theodore R. Booher Living Trust U/A dated 3/25/2002 v. Charles Schwab & Co. Inc.
Published: May 14, 2011 | Result Date: Apr. 11, 2011 | Filing Date: Jan. 1, 1900 |Case number: 10-05133 Arbitration – $25,000
Facts
Theodore Booher and Dianne Booher, as Trustees of the Theodore R. Booher Living Trust U/A dated 3/25/2002 filed a complaint against Charles Schwab & Co. Inc. relating to the Schwab YieldPlus Fund.
Claimants asserted: breach of fiduciary duty; fraud; breach of contract; fraudulent inducement; and respondeat superior.
Damages
Claimant sought a rescission; $25,000 in compensatory damages, plus interest; punitive damages; and $150 in costs.
Result
The panel awarded claimant $25,000 plus pre-judgment interest in the amount of $13,500. Costs were also awarded, but rescission was denied. The panel imposed no amount of punitive damages.
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