Facts

Claimants, Lanek Limited, Kevin McCurdy, Howard Field, and Jascan Investments Inc. filed a claim against Morgan Stanley DW Inc., Antony Gordon and Margaret Black. Claimants claimed that respondents did not charge them the same interest rate that respondent charged other customers, on their debt balances. Claimants alleged such favoritism to other customers resulted in an interest overcharge to plaintiffs for various unspecified securities. The matter proceeded to arbitration before an NASD Dispute Resolution panel.

CLAIMANT'S CONTENTIONS:
Claimants alleged fraud, negligence, breach of contract, and breach of fiduciary duty.

RESPONDENT'S CONTENTIONS:
Respondents denied that plaintiffs were damaged by any act by it, and alleged several affirmative defenses.

Damages

Claimants requested $592,418.48 in compensatory damages, punitive damages, and costs. Respondents requested dismissal of claimants' claims.

Result

The parties stipulated to a dismissal, with prejudice, of all claims, and the expungment of all reference to the matter from Gordon and Black's CRD records. Each party bore its own costs and expenses.