Roberta Lee Franklin, individually, on behalf of the Downey Brand LLP Employment Retirement Plan FBO Roberta Franklin and on behalf of the Roberta Franklin IRA v. SagePoint Financial Inc, Edward Charles Stadjuhar, Strategic Wealth Advisors Group
Published: May 2, 2015 | Result Date: Mar. 30, 2015 | Filing Date: Jan. 1, 1900 |Case number: 13-03274 Arbitration – Respondents
Court
FINRA
Attorneys
Claimant
Respondent
Gregory T. Fayard
(Cardinale Fayard, APLC)
Kasumi Takahashi
(Jones Bell Abbott Fleming & Fitzgerald LLP)
Facts
Roberta Lee Franklin, individually, on behalf of the Downey Brand LLP Employment Retirement Plan FBO (for benefit of) Roberta Franklin and on behalf of the Roberta Franklin IRA, sued SagePoint Financial Inc., broker Edward Charles Stadjuhar, and Strategic Wealth Advisors Group, relating to claimants investments in unspecified securities.
Contentions
CLAIMAINT'S CONTENTIONS:
: Franklin sued respondents, claiming her portfolio was not well-diversified and suffered losses as a result. Plaintiff asserted causes of action for breach of fiduciary duty, constructive fraud, fraud by misrepresentation and omission, breach of written contract, failure to supervise and control, and violation of State and Federal Securities Laws, FINRA Rules of Fair Practice and NYSE Rules.
RESPONDENTS' CONTENTIONS:
Respondents denied the allegations and asserted various affirmative defenses.
Damages
Claimant requested $388,108 in damages.
Result
The panel ruled in favor of respondents and against the claimant.
Other Information
ARBITRATORS: Ralph A. Cotton, Michael J. Fish, Clifford A. Threlkeld. FILING DATE: Nov. 5, 2013.
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