Facts

Christopher Stephen Miller sued Hartford Securities relating to his previous employment with Hartford. Hartford counterclaimed.

CLAIMANT'S CONTENTIONS:
Claimant asserted causes of action for libel per se, expungement of false, defamatory language on claimant's Uniform Termination Notice for Securities Industry Registration, quantum meruit and unjust enrichment relating to claimant's retention bonuses, quantum meruit and unjust enrichment relating to claimant's deferred compensation, and quantum meruit and unjust enrichment relating to revenues respondent received.

RESPONDENT'S CONTENTIONS:
Respondent denied the allegations and asserted various affirmative defenses. Respondent counterclaimed for breach of contract, conversion, misappropriation of trade secrets, computer fraud, and violation of California unfair compensation law.

Damages

Claimant sought no less than in libel per se damages and punitive damages. Plaintiff also sought damages emanating from the FINRA investigation, attorney fees, statutory interest, and the reimbursement of all filing fees, disbursements, and expenditures. Respondent sought dismissal of claimant's claim, compensatory damages, punitive and exemplary damages, an order requiring claimant abide by the Confidentiality Agreement and Retention Agreement, permanent injunction, order requiring return of property, restitution, prejudgment interest, costs of suit, and attorney fees.

Result

Claimant was awarded $13,384 in compensatory damages plus 9 percent interest on the award, but was required to pay $11,250 in costs for the arbitration hearing. The panel recommended, but did not order, modification of the Form U-5.

Other Information

ARBITRATORS: Benjamin F. Breslauer, Thomas W. Gregory, Terry Lynn Chambless. FILING DATE: Sept. 5, 2012.