Securities
Securities Fraud
Misrepresentation and Omissions
James P. McGarry, Amethyst Music and Entertainment Inc. v. Citigroup Global Markets, Inc., Jack Hochstrasser
Published: Jan. 26, 2013 | Result Date: Jan. 8, 2013 | Filing Date: Jan. 1, 1900 |Case number: 09-07114 Arbitration – Respondent
Facts
James McGarry and Amethyst Music and Entertainment filed suit against Citigroup Global Markets, asserting causes of action for misrepresentations and omissions, negligence, unsuitability, breach of contract and fiduciary obligations, failure to follow instructions, failure to supervise, and violations of the Conduct Rules of FINRA. The causes of action related to investments in unspecified stocks and bonds.
Damages
The claimants requested $2,500,000 in compensatory damages, disgorgement, accrued interest, attorney's fees, and other relief.
Result
The arbitration panel denied the claimants' claims in their entirety.
Other Information
ARBITRATORS: Diane Getzler, Nancy Kramer, Donald R. McNalty.
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