Securities
Breach of Fiduciary Duty
Breach of Contract
Timothy Tutko v. Wendy Adair Britton and Charies Schwab & Co. Inc.
Published: Jan. 12, 2013 | Result Date: Dec. 20, 2012 | Filing Date: Jan. 1, 1900 |Case number: 11-04596 Arbitration – Expungement
Facts
Timothy Tutko filed a complaint against Wendy Britton and Charles Schwab & Co. Inc. alleging breach of fiduciary duty; breach of contract; negligence; unauthorized trading; fraud and fraudulent concealment; and violation of Washington's Consumer Protection Act related to Tutko's investment in Schwab YieldPlus Select fund.
Damages
Tutko sought damages, interest, treble and punitive damages, rescission, attorney's fees and costs, and other relief.
Result
The parties settled the matter, and FINRA thereafter recommended the expungement of Britton's records.
Other Information
ARBITRATORS: Michael R.E. Sanders, Todd A. Bloom, David Gonzalez.
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