Securities
Breach of Fiduciary Duty
Suitability, Fraud and Deceit
Robert W. Ralston, Susan B. Ralston v. Paul H. Heckler dba Yosemite Capital Management
Published: Sep. 24, 2011 | Result Date: Jul. 1, 2011 | Filing Date: Jan. 1, 1900 |Case number: 10-02276 Arbitration – $200,000
Facts
Robert and Susan Ralston entered into arbitration with Paul Heckler, regarding investments in the private placement of a promissory note from Saveonline.com Financial Inc.
Contentions
CLAIMANTS' CONTENTIONS:
The Ralstons alleged suitability, breach of fiduciary duty, fraud, negligence, and failure to supervise.
RESPONDENT'S CONTENTIONS:
Heckler denied the allegations, asserting various affirmative defenses.
Damages
The Ralstons sought $200,000 in compensatory damages, as well as rescission, attorney fees, and interest.
Result
The arbitration panel found Heckler liable for $200,000.
Other Information
ARBITRATORS: Robert F. Saint-Aubin, Joseph A. Newcomb, George H. Casey.
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