Facts

Claimant initiated a FINRA arbitration against respondents relating to shares of National Bank of Greece stock.

CLAIMANT'S CONTENTIONS:
Claimant contended that respondents were negligent and engaged in fraudulent concealment by failing to execute his order to purchase the stock.

RESPONDENTS' CONTENTIONS:
Respondent denied claimant's allegations and asserted various affirmative defenses. They sought dismissal and respondent Gregory Chachas Jr. requested expungement of the matter from his Central Registration Depository record.

Result

Claimant dismissed all claims against Chachas and did not oppose expungement. The arbitration panel recommended expungement, concluding that the case should never have been brought.

Other Information

ARBITRATORS: Joseph Winter, Michael D. Harrison, John Alen DeRosa.