Jon and Colleen Levin, individually and as trustees of the Jon J. Colleen A. Levin Family Trust d/t/d 2/20/91 v. Crown Capital Securities L.P.
Published: Nov. 28, 2015 | Result Date: Oct. 22, 2015 | Filing Date: Jan. 1, 1900 |Case number: 14-01220 Arbitration – $125,000
Facts
Jon and Colleen Levin, individually and trustees of the Jon J. & Colleen A. Levin Family Trust d/t/d 2/20/31 filed a complaint against Crown Capital Securities L.P. concerning their investments.
Contentions
COMPLAINANTS' CONTENTIONS:
Complainants asserted causes of action for violation of California common law fraud, breach of fiduciary duty, negligent failure to supervise, and negligence.
RESPONDENTS' CONTENTIONS:
Respondents denied the allegations and asserted various affirmative defenses. Additionally, responded requested the expungement of non-party, Daniel Stange's CRD records.
Damages
The Levins sought $1 million in damages.
Result
The parties ultimately reached a $125,000 settlement. Thereafter, the FINRA Panel recommended the expungement of Stange's records.
Other Information
ARBITRATORS: Herbert Murez; Larry Edmonson; Thomas W. Gregory FILING DATE: April 10, 2014
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