Peter P. Reddy Sr. v. E*Trade Securities LLC
Published: Mar. 24, 2012 | Result Date: Jan. 17, 2012 | Filing Date: Jan. 1, 1900 |Case number: 10-04395 Arbitration – $12,133
Facts
Claimant Peter P. Reddy Sr. asserted a cause of action against E*Trade Securities LLC for negligence in handling his account. The cause of action relates to Reddy's purchase of options in Inverness Medical.
Damages
Claimant requested $22,059 in compensatory damages and interest in the amount of 10 percent, equaling $2,206, for a total of $24,260. He also requested attorneys fees and costs and any other relief the arbitrator deemed appropriate.
Result
The arbitrator found that respondent was responsible for 75 percent of the damage of $24,265. Claimant was also responsible for 25 percent of the damage, which was to be netted against respondent's 75 percent. Thus respondent was ordered to pay claimant the net of 50 percent of the total loss, $12,133.
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