Sarah Jane Harmon v. Charles Schwab & Co. Inc.
Published: Apr. 15, 2017 | Result Date: Mar. 24, 2017 | Filing Date: Jan. 1, 1900 |Case number: 14-02887 Arbitration – Respondent
Court
FINRA
Attorneys
Claimant
Jonathan E. Neuman
(Law Offices of Jonathan E. Neuman)
Respondent
Anthony L. Valenzuela
(Charles Schwab & Co.)
Facts
Sarah Harmon and Charles Schwab & Co. Inc. arbitrated a dispute before the FINRA Office of Dispute Resolution.
Contentions
CLAIMANT'S CONTENTIONS:
Harmon contended that respondent never mentioned to her the risks of having a margin loan. Furthermore, Harmon's account was liquidated because of margin calls, causing her to lose her retirement savings. Harmon asserted causes of action for breach of fiduciary duty, suitability, breach of contract, failure to supervise, and negligence.
RESPONDENT'S CONTENTIONS:
Charles Schwab denied claimant's allegations and asserted various affirmative defenses.
Result
The panel returned an award in respondent's favor, denying claimant's claims in their entirety.
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