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Securities
Breach of Fiduciary Duty
Negligence, Suitability, Failure to Supervise

Henry Kankowski, Patrice Kankowski v. Morgan Stanley & Co. Inc., Jonathon M. Webster

Published: Sep. 24, 2011 | Result Date: Jul. 5, 2011 | Filing Date: Jan. 1, 1900 |

Case number: 11-00646 Arbitration –  $1,200,000

Court

FINRA


Attorneys

Claimant

Matthew R. Miller


Respondent

Debra V. Achkire
(Morgan Stanley)


Facts

Henry and Patrice Kankowski filed an action against Morgan Stanley & Co. Inc. mad Jonathon Webster in relation to investments in variable annuities, including Newgate LLC, Brandes Global Equity, NWQ Investment Management, Forward Uniplan Advisors, and Fed. Investment Counseling.

Contentions

CLAIMANT'S CONTENTIONS:
Claimants alleged breach of fiduciary duty, negligence, suitability, failure to supervise, breach of contract, and unfair business practices.

RESPONDENT'S CONTENTIONS:
Respondent rejected the allegations of wrongdoing.

Damages

Claimants sought $1,200,000.

Result

The arbitration panel granted claimant's motion to dismiss.

Other Information

ARBITRATORS: Guenter S. Cohn, Kevin K. Forrester, Nils S. Sandberg.


#118063

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