Steven J. Jensen, Nancy Jensen, Padre Resorts Inc. v. Willis Samuel Cole, III, Shanon Lane Ford, Erinn June Ford, Mark Thomas McCloskey, Pacific West Securities Inc., Philip Anthony Pizelo
Published: Nov. 28, 2015 | Result Date: Nov. 2, 2015 | Filing Date: Jan. 1, 1900 |Case number: 13-01942 Arbitration – Expungement denied
Court
FINRA
Attorneys
Claimant
Bradd L. Milove
(Miller & Milove)
Respondent
Philip Anthony Pizelo
(Pacific West Securities Inc.)
Facts
Claimants initiated a FINRA dispute resolution against respondents relating to their investments in Tenant in Common properties.
Contentions
CLAIMANTS' CONTENTIONS:
Claimants asserted various causes of action, contending that respondents violated the Washington Securities Act and committed securities fraud, breached their fiduciary duty, committed negligence and negligent misrepresentation, fraud, constructive fraud and deceit, breach of contract and unfair business practices.
RESPONDENTS' CONTENTIONS:
Unless specifically admitted, respondents denied the allegations and Cole asserted various affirmative defenses.
Damages
Claimants requested rescission and/or damages in excess of $9.5 million.
Result
Claimants dismissed all respondents with prejudice. The panel denied Shannon Ford, Erinn Ford, McCloskey and Pizelo's requests for expungement.
Other Information
ARBITRATORS: Richard L. Warner; Elwood C. Avery; Dante Lee Montoya FILING DATE: June 28, 2013
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