Securities
Negligence
Breach of Fiduciary Duty
Kelly Martinsen v. E*Trade Securities LLC
Published: Jan. 28, 2012 | Result Date: Dec. 30, 2011 | Filing Date: Jan. 1, 1900 |Case number: 11 -02100 Arbitration – Expungement
Court
FINRA
Attorneys
Claimant
Lars K. Soreide
(Soreide Law Group)
Respondent
John E. Bersin
(E-Trade Securities)
Facts
Kelly Martinsen filed a complaint against E*Trade Securities LLC alleging negligence, breach of fiduciary duty, negligent supervision, breach of contract and fraud relating to auction rate securities.
Damages
Martinsen sought $650,000 in compensatory damages as well as punitive damages, rescission, interest, costs and other relief.
Result
The parties entered into a settlement and the FINRA Panel recommended the expungement of a non-party.
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