Cynthia Siegle v. LPL Financial LLC
Published: Oct. 25, 2014 | Result Date: Sep. 30, 2014 | Filing Date: Jan. 1, 1900 |Case number: 13-00342 Arbitration – Expungement
Court
FINRA
Attorneys
Claimant
Respondent
David J. Freniere
(Markun, Zusman, Freniere & Compton LLP)
Facts
Cynthia Siegle filed a complaint against LPL Financial LLC, concerning her investments in Inland Western Real Estate Investment Trust, LaeRoc Edge Fund, LaeRoc 2004-2995 Income Fund, and LaeRoc 2002 Income Fund.
Contentions
CLAIMANT'S CONTENTIONS:
Claimant asserted causes of action for breach of contract, breach of fiduciary duty, failure to supervise, negligence, gross negligence, misrepresentations and omissions, fraud and constructive fraud, violation of FINRA Rules, and violation of California and federal securities laws.
RESPONDENT'S CONTENTIONS:
Respondent denied claimant's allegations and asserted various affirmative defenses.
Damages
Siegle sought approximately $338,000 in damages and other damages, plus attorney fees and costs. Meanwhile, LPL requested the expungement of George Dorvillier's records, a non-party, and attorney fees and costs.
Result
In May 2014, Siegle informed the FINRA Panel that she had reached a settlement with LPL. Next, the Panel recommended the expungement of non-party Dorvillier's records.
Other Information
ARBITRATORS: Ralph L. Jacobson, Susan J. Alexander and Anne M. Lawlor Goyette
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