Rosa R. Makwana, Jitendra J. Makwana and Makwana Family Trust v. Vince Richard Hawley and UBS Financial Services Inc.
Published: Dec. 21, 2013 | Result Date: Nov. 21, 2013 | Filing Date: Jan. 1, 1900 |Case number: 11-02482 Arbitration – Expungement
Facts
Rosa Makwana, Jitendra Makwana, and the Makwana Family Trust filed for arbitration against Vince Hawley and UBS Financial Services Inc.
Contentions
PLAINTIFF'S CONTENTIONS:
The Makwanas asserted causes of action for breach of contract, common law fraud, and failure to supervise. The causes of action related to various investments in stocks and mutual funds.
DEFENDANT'S CONTENTIONS:
Hawley and UBS denied the Makwanas' allegations and asserted various affirmative defenses.
Damages
The Makwanas sought actual damages of $294,454.
Result
The arbitration panel recommended the expungement of all references to the arbitration from Hawley's registration records. Otherwise, it found that the Makwanas claims were factually impossible or clearly erroneous, and that the investments they had made were appropriate.
Other Information
ARBITRATORS: Robert S. Mautner, Allan Levey and Merton E. Marks
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