David N. Harvey and Sharon L. Harvey, Individually and as Trustees for the Harvey Family Trust Dated 08/30/06 v. Wells Fargo investments LLC, Wells Fargo Bank NA, Matthew Medeiros
Published: May 7, 2011 | Result Date: Apr. 13, 2011 | Filing Date: Jan. 1, 1900 |Case number: 10-00083 Arbitration – Expungement
Court
FINRA
Attorneys
Claimant
Geoffrey O. Evers
(Evers Law Group, APC)
Respondent
G. Thomas Fleming III
(Jones, Bell, Abbott, Fleming & Fitzgerald LLP)
Kasumi Takahashi
(Jones Bell Abbott Fleming & Fitzgerald LLP)
Facts
David and Sharon Harvey entered into arbitration with Wells Fargo Investments LLC and Matthew Medeiros regarding investments in convertible securities.
Contentions
CLAIMANT'S CONTENTIONS:
The Harveys alleged breach of fiduciary duty, negligent and intentional misrepresentation, and fraud, as well as negligent supervision, negligence, breach of covenant of good faith and fair dealing, and false statement in connection with the purchase or sale of security. They also alleged unfair competition and violations of California Corporations Code and Business and Professions Code.
RESPONDENT'S CONTENTIONS:
Wells Fargo and Medeiros denied the allegations, asserting various affirmative defenses.
Damages
The Harveys sought special damages of $1.65 million as well as costs, general damages, attorney fees, and consequential damages.
Result
The arbitration panel denied the Harveys' claim.
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