Susan Inbar-Grecco, individually, and as trustee of the Susan Inbar-Grecco Trust (formerly known as the Susan Inbar-Smith Trust) dated 09/13/1989 v. Merrill Lynch, Pierce, Fenner & Smith Inc., Jose M. Lamas
Published: Sep. 24, 2011 | Result Date: Jul. 5, 2011 | Filing Date: Jan. 1, 1900 |Case number: 10-01546 Arbitration – Denial
Facts
Susan Inbar-Grecco, individually and as Trustee, filed a complaint against Merrill Lynch, Pierce, Fenner & Smith Inc. and Jose Lamas relating to investments in various mutual funds. Claimant asserted: suitability; breach of fiduciary duty; misrepresentation; failure to supervise; negligence; gross negligence; recklessness; and violation of securities laws.
Damages
Claimant sought $562,330 in general and compensatory damages; interest; punitive and exemplary damages in the sum of $1.5 million; attorney fees and costs; and other relief.
Result
The panel denied claimant's claims in its entirety with prejudice and recommended expungement of the claim from Lamas' records. Any and all other relief was denied.
Other Information
ARBITRATORS: Michael R. Mitchell, Joyce L. Hurley, Marvin B. Karelitz.
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