Facts

Ryan Trottier, Executor of the Estate of Mary Trottier, filed a claim against Morgan Stanley Smith Barney LLC dba Morgan Stanley and Steven Crawford, involving allegations of elder abuse in connection with claimant's investments in various unspecified annuities and securities.

CLAIMANT'S CONTENTIONS: Claimant asserted causes of action for breach of fiduciary duty; aiding and abetting financial elder abuse; negligence; breach of contract; and breach of the covenant of good faith and fair dealing.

RESPONDENT'S CONTENTIONS: Respondents denied the allegations and asserted various affirmative defenses. Respondent Crawford sought expungement of his CRD records.

Result

The FINRA Panel found respondents jointly and severally liable to claimant in the amount of $396,623 in compensatory damages, but was conditioned upon claimant assigning right and interest in a criminal restitution order against a third party to respondents. The Panel denied Crawford's expungement request.