Alice M. Potter v. Ameritas Investment Corp., Tommy Bowman, Lawrence Rasche
Published: Jun. 9, 2012 | Result Date: May 11, 2012 | Filing Date: Jan. 1, 1900 |Case number: 11-02745 Arbitration – $10,871
Facts
Alice Potter filed a complaint against Ameritas Investment Corp., Tommy Bowman, and Lawrence Rasche for breach of fiduciary duty, fraud and misrepresentation, negligence, violation of Florida Securities Law, and violations of registration and licensing requirements related to the purchase of DLG Notes in Potter's account. DLG Notes was an unregistered security issued by Diversified Lending Group Inc.
Damages
Potter sought a rescission or $327,885 in compensatory damages as well as consequential damages, disgorgement and restitution of all earnings, profits, compensation. Potter also sought punitive and exemplary damages, interest, attorney fees and costs, and other relief.
Result
Potter withdrew her claims against Ameritas and Bowman, and the only remaining respondent was Rasche. The panel granted Rasche's motion to dismiss and Potter's claim was dismissed in its entirety with prejudice. Potter was then found liable for Rasche's attorney fees in the amount of $10,871. However, Rasche's request for expungement was denied.
Other Information
ARBITRATORS: Thomas F. Shine, Alan E. Linden, David C. Matthews.
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