Kevin Dwyer v. Cullen Wesley Crabbe, Stephen Joseph Kipp, Kipp Brandt Drummond & Associates, Kipp Financial Group Inc., National Planning Corporation, NPB Financial Group, LLC, Spectrum Financial Group Inc., Stephen Kipp Associates
Published: Feb. 4, 2017 | Result Date: Dec. 22, 2016 | Filing Date: Jan. 1, 1900 |Case number: 14-03682 Arbitration – Respondent
Court
FINRA
Attorneys
Claimant
Zshonette L. Reed
(Lorden & Reed)
Respondent
Megan L. Hayati
(Edgerton & Weaver LLP)
H. Thomas Fehn
(Fields Fehn & Sherwin)
Neal E. Nakagiri
(NPB Financial Group LLC)
Facts
Claimant asserted various causes of action against respondents relating to his investments.
Contentions
CLAIMANT'S CONTENTIONS:
Claimant contended that respondents violated the law with respect to his investments into a Pacific Life annuity, Redwood Mortgage Partnership, and a Genworth money market account. Specifically, they breached the covenant of good faith and fair dealing, breached their fiduciary duty, engaged in misrepresentation, failed to conduct due diligence, made negligent and intentional false representations, committed professional negligence, and failed to fully disclose.
RESPONDENTS' CONTENTIONS:
Respondents denied claimant's allegations and asserted various affirmative defenses.
Damages
Claimant sought over $700,000 in compensatory damages.
Result
The arbitration panel denied claimant's claims but awarded him $375 as reimbursement for his initial claim filing fee.
Other Information
ARBITRATORS: Erik R. Siering, Elliott David Finkel, Daniel R. Brush.
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