William Ayers v. James Clarke, Philip Weyhe
Published: Jan. 4, 2014 | Result Date: Dec. 6, 2013 | Filing Date: Jan. 1, 1900 |Case number: 12-03403 Arbitration – Respondent
Facts
William Ayers filed for arbitration against James Clarke and Philip Weyhe.
Contentions
PLAINTIFF'S CONTENTIONS:
Ayers asserted causes of action for misrepresentation, omissions, violation of New Jersey Uniform Securities Law, unsuitability, violation of the National Association of Securities Dealers (NASD) Code of Conduct 2310, and breach of implied covenant of good faith and fair dealing. The causes of action all related to the sale of various securities.
DEFENDANT'S CONTENTIONS:
Defendants denied plaintiff's allegations and asserted various affirmative defenses.
Damages
Ayers requested between $142,784 and $436,563 in damages.
Result
The panel denied Ayers's claims in their entirety, and recommended the expungement of the claims with exception of the fourth and final claim of fraudulent and negligent misrepresentation. The panel didn't find the claim to be without merit and therefore couldn't conclude the claim was false for expungement purposes.
Other Information
ARBITRATORS: Linda T. Pellegrino, Robert J. McDonnell and Gregory Stuart Berke.
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