Facts

Plaintiff Susan Frances Bostian made several allegations against defendants Merrill Lynch, Pierce, Fenner & Smith Inc., and Robert F. Gallo, involving wrongdoing with her investments in Microcide Pharmaceuticals stock.

CONTENTIONS:
Plaintiff alleged that her account suffered damages because of defendant's breach of fiduciary duty and negligence. Defendants denied any wrongdoing or liability to plaintiff. They also asserted various affirmative defenses.

Damages

Plaintiff requested $1,284,651 plus $385,395 in interest, and attorney fees. Defendants requested dismissal of plaintiff's claims and an award of costs. Defendant Gallo also requested the arbitration records be expunged from his registration records maintained by the NASD Central Registration Depository.

Result

Plaintiffs claims are dismissed, and defendant Gallo's request is denied. Each party shall bear its own costs.

Other Information

Arbitrators were Herbert Brown, Peter Kassel and Keely Parr.