Merrill Lynch, Pierce, Fenner & Smith Inc. v. Mark Rossel
Published: Oct. 10, 2009 | Result Date: Jun. 9, 2009 | Filing Date: Jan. 1, 1900 |Case number: 06-00240 Arbitration – $252,917
Court
Arbitration Forum
Attorneys
Claimant
Respondent
Erwin J. Shustak
(Shustak, Reynolds & Partners PC)
Jonah A. Toleno
(Shustak, Reynolds & Partners PC)
Facts
Claimants Merill Lynch, Pierce, Fenner & Smith Inc. alleged breach of a promissory note and unjust enrichment against respondent Mark Rosel, whom they had terminated from employment.
Damages
The claimants sought the outstanding principal on the promissory note, $178,618, interest on the principal, and attorney fees and costs. The respondent requested a release and waiver for all claims in a written settlement, that his termination be changed to voluntary resignation, and that he receive no less than neutral employment references from claimant.
Result
The panel held in favor of claimants and awarded compensatory damages of $252,917, which included attorney fees.
Other Information
On March 20, 2009, the panel held a pre-hearing conference with the parties regarding damage calculations. On March 26, 2009, the parties stipulated the compensatory damages to be paid by respondent as $178,711. ARBITRATORS: David Harrison, Dean Schneider, Theresa Hu.
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