Citigroup Global Markets Inc. v. Suzanne LaTour
Published: Jun. 18, 2011 | Result Date: May 5, 2011 | Filing Date: Jan. 1, 1900 |Case number: 09-07032 Arbitration – $321,933
Court
FINRA
Attorneys
Claimant
Respondent
Facts
Citigroup Global Markets Inc. filed an action against Suzanne LaTour in relation to a promissory note and special compensation agreement, which LaTour executed on Aug. 13, 2004.
Contentions
PLAINTIFF'S CONTENTIONS:
Claimant alleged breach of contract by respondent, and sought restitution. In addition, claimant rejected any allegations of wrongdoing by respondent.
DEFENDANT'S CONTENTIONS:
Respondent rejected any allegations of wrongdoing, and alleged that claimant was in breach of contract and the implied covenant of good faith and fair dealing.
Damages
Claimant sought $322,861.12 plus six percent interest. Respondent sought $350,000 in general and special damages, and $48,190 in penalties under the California Labor Code.
Result
The arbitration panel awarded claimant $321,933.11 in compensatory damages for the balance due on the promissory note. However, the panel granted respondent's claimed prorated amount of $48,429 to offset the balance due on the note. Further, the panel granted respondent $19,846.27 in attorney fees, and granted claimant $157, 616.53 for attorney fees and costs.
Other Information
ARBITRATORS: Mandel E. Himelstein, Michael D. Briggs, Alan Joseph Goldstein.
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