Donna Gambee v. David Lloyd Barber v. Madison Avenue Securities LLC
Published: Feb. 2, 2018 | Result Date: Jan. 5, 2018 | Filing Date: May 20, 2016 |Case number: FINRA: 16-01450 Arbitration – $2,157,243
Arbitrator
Attorneys
Claimant
Edward D. Chapin
(Sanford Heisler Sharp LLP)
Charles H. Field Jr.
(Sanford Heisler Sharp LLP)
Respondent
Marc S. Ehrlich
(Winget Spadafora Schwartzberg)
Rachel D. Dardashti
(Winget Spadafora Schwartzberg)
Facts
Donna Gambee sued David Lloyd Barber and Madison Avenue Securities LLC. Gambee invested in Chesapeake Energy and Westport Innovations, among others.
Contentions
CLAIMANT’S CONTENTIONS: Gambee’s causes of action included unauthorized trading, unsuitable trading, breach of fiduciary duty, and failure to supervise.
RESPONDENTS’ CONTENTIONS: The respondents denied Gambee’s claims.
Damages
Gambee sought $833,841.17 in compensatory damages, $833,841.17 in punitive damages, $867,681.65 in attorney fees, and $44,296.90 in costs.
Result
Barber was found liable for $622,032.62, with a 10 percent interest rate, in punitive damages and was liable for $622,032.62 in compensatory damages, with a 10 percent interest rate. MAS was found liable for $211,808.55 in punitive damages, with a 10 percent interest rate, and was liable for $211,808.55 in compensatory damages, with a 10 percent interest rate. Additionally, the respondents were jointly liable for $445,236.50 in attorney fees and $44,296.90 in costs.
Other Information
ARBITRATORS: Janice L. Sperow, presiding chairperson; Deanna J. Johnson; Mitchell L. Lathrop.
Length
al
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390