Martha L. Welborne v. Charles Erwin Bohlen, Charles Eustis Bohlen Jr., Stern Fisher Edwards Inc.
Published: Aug. 20, 2016 | Result Date: May 19, 2016 | Filing Date: Jan. 1, 1900 |Case number: 15-00362 Arbitration – $297,000
Court
FINRA
Attorneys
Claimant
Brian D. Boydston
(Pick & Boydston LLP)
Respondent
Edward Gartenberg
(Gartenberg, Gelfand & Hayton LLP)
Facts
Martha Welborne filed a complaint against Charles Bohlen, Charles Bohlen Jr., and Stern Fisher Edwards Inc., due to the allegedly improper transfer from her Stern Fisher accounts.
Contentions
CLAIMANT'S CONTENTIONS:
Claimant asserted causes of action for breach of fiduciary duty, aiding and abetting breach of fiduciary duty, and negligence.
RESPONDENTS' CONTENTIONS:
Respondents denied the allegations and asserted various affirmative defenses.
Damages
Welborne sought no less than $495,000 in compensatory damages.
Result
The FINRA Panel found respondents jointly and severally liable to Welborne in the amount of $297,000 in compensatory damages, plus 7 percent interest rate. The Panel also denied respondents' request for an expungement.
Other Information
ARBITRATORS: Steven Gourley, Ronald L. Cameron, Laurent C. Vonderweidt.
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