Arthur A. Torrellas, First Republic Trust Company, a division of First Republic Bank, as Trustee for each The Arthur A. Torrellas Survivor's Trust dated October 20, 2006, The Arthur A. Torrellas Q-Tip Marital Trust, The Arthur Torrellas Non-Exempt Q-Tip Marital Trust, and The Carole M. Torrellas Decedent's Trust v. Wells Fargo Advisors LLC
Published: Aug. 20, 2016 | Result Date: May 12, 2016 | Filing Date: Jan. 1, 1900 |Case number: 14-03649 Arbitration – Expungement Denied
Court
FINRA
Attorneys
Claimant
Theodore S. Avery
(Law Office of Montgomery G. Griffin)
Respondent
Kevin J. Woods
(White & Woods PC)
Facts
Arthur Torrellas, First Republic Trust Co., a division of First Republic Bank, as Trustee for each The Arthur A. Torrellas Survivor's Trust dated October 20, 2006, The Arthur A. Torrellas Q-Tip Marital Trust, The Arthur Torrellas Non-Exempt Q-Tip Marital Trust, and The Carole M. Torrellas Decedent's Trust filed a complaint against Wells Fargo Advisors LLC, related to unspecified investments.
Contentions
CLAIMANTS' CONTENTIONS:
Claimants asserted causes of action for, inter alia, fraudulent concealment, breach of fiduciary duty, breach of contract, negligence, and other claims.
RESPONDENT'S CONTENTIONS:
Respondent denied the allegations and asserted various affirmative defenses.
Damages
Claimants sought no less than $750,000 in damages.
Result
The parties settled their dispute. Unnamed parties Richard Spraker and Eric Spraker requested an expungement of their CRD records. Ultimately, the FINRA Panel denied the Sprakers' requests.
Other Information
ARBITRATORS: Ronald L. Cameron, Robert Rosen, Steven K. Ogata.
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