Facts

Claimants Bob and Mariah Hall filed a claim against Merrill Lynch, Pierce, Fenner & Smith Incorporated, and Dean Welsh. Their allegations involved Mattson Technologies Inc. and Supertex Inc. stock, stock options and trading on margin.

CONTENTIONS:
Claimants' allegations included breach of fiduciary duty, failure to supervise, respondeat superior, breach of contract, and constructive fraud. Respondents denied the allegations of wrong-doing and asserted various affirmative defenses.

Damages

Claimants requested not less than $900,000 in compensatory damages, disgorgement, punitive damages, pre-judgment interest, and costs. Respondents requested the dismissal of claimant's claim, and costs.

Result

Claimant's claims were dismissed due to the expiration of applicable statutes of limitation. The parties each bore their respective costs.

Other Information

Welsh was included in the claimant's original statement of claim. However, claimants decided to pursue Welsh in court subsequently removed him from the arbitration. The parties later stipulated to add Welsh as a respondent again, and the related court actions were dismissed.