Felyce Thomas v. James B. Cadenhead, Derek E. Jett, Wells Fargo Advisors Financial Network LLC, Wells Fargo Advisors LLC
Published: Nov. 28, 2015 | Result Date: Oct. 29, 2015 | Filing Date: Jan. 1, 1900 |Case number: 13-02833 Arbitration – Expungement
Facts
Felyce Thomas filed a complaint against James Cadenhead, Derek Jett, and Wells Fargo Advisors LLC, related to claimant's investments.
Contentions
CLAIMANT'S CONTENTIONS:
Complainants asserted causes of action for violation of the standards of commercial honor and principles of trade or NASD, violation of "know your customer," suitability, breach of fiducairy duty, and breach of FINRA Rule 2090.
RESPONDENTS' CONTENTIONS:
Respondents denied the allegations and asserted various affirmative defenses. Respondents also requested an expungement of the individual respondents' respective CRD records.
Damages
Thomas sought over $20,000 in damages.
Result
In March 2015, Thomas voluntarily dismissed with prejudice all her claims against the individual respondents. Thomas then reached a settlement with Wells Fargo. Thereafter, the arbitrator recommended the expungement of Cadenhead and Jett's CRD records.
Other Information
FILING DATE: Sept. 22, 2013
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