Dina Boyd v. Morgan Stanley DW Inc., Glenn S. Samson and Dennis W. Peterson
Published: Mar. 25, 2006 | Result Date: Oct. 17, 2005 | Filing Date: Jan. 1, 1900 |Case number: 0308275 – $0
Facts
The claimant is Dina Boyd. The respondents are Morgan Stanley DW Inc., Glenn Samson and Dennis Peterson. The claimant alleged that her accounts sustained losses due to the unsuitable recommendations the respondents made. These recommendations included the use of margin. Further, the claimant alleged that the respondents administered investment advice through fraudulent and deceptive practices. The claimant also alleged fraud, negligence, breach of contract, breach of fiduciary duty, misrepresentation, unsuitability, churning and failure to supervise. The claimant's allegations entail investments in a number of unspecified technology stocks. The respondents denied the claims. They denied liability and argued affirmative defenses.
Damages
The claimant sought damages, subject to proof at hearing in the amount of $525,000 plus interest and lost income. The claimant further sought reimbursement of the reasonable costs connected with arbitration. This included filing fees and hearing session fees. The claimant also sought punitive and exemplary damages, and disciplinary referrals to the proper regulatory agencies as the panel deemed fit. The respondents sought dismissal of the claims.
Result
The panel concluded that all of the claimant's claims, including the claims for punitive and exemplary damages, are dismissed. The respondents Morgan Stanley and Samson are jointly and severally liable to and shall pay the claimant the sum of $375 as reimbursement for the claimant's filing fee. Except as mentioned above, each party shall bear its own costs, including attorney fees. All other relief not expressly granted is denied.
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