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Securities
Breach of Fiduciary Duty
Mismanagement

Vickie Tedesco Parrish, individually and as Trustee of the EB and Vickie Tedesco Family Trust v. Jon Leif Erickson, Patricia Michelle Fontan-Sorlie, Wells Fargo Investments, LLC

Published: Oct. 1, 2011 | Result Date: Jul. 18, 2011 | Filing Date: Jan. 1, 1900 |

Case number: 09-03016 Arbitration –  Expungement

Court

FINRA


Attorneys

Claimant

David G. Liebrader


Respondent

G. Thomas Fleming III
(Jones, Bell, Abbott, Fleming & Fitzgerald LLP)

Craig R. Bockman
(Jones Bell)


Facts

Vickie Parrish, individually and as Trustee, filed a complaint against Jon Erickson, Patricia Fontan-Sorlie and Wells Fargo Investments LLC related to respondents' management of investments. Claimants asserted: breach of fiduciary duty; misrepresentations and omissions; negligence; and violation of N.R.S. Sections 90.570 and 90.660.

Injuries

Compensatory damages of not less than $245,000; punitive and exemplary damages; interest; and attorney fees and costs.

Result

Erickson and Fontan-Sorlie were dismissed and the panel recommended expungement of their records. Claimants entered into a settlement with the remaining respondent. All other relief was denied.

Other Information

ARBITRATORS: Laurel L. Gothlef, Dee Newell, Dean C. Abraham.


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