Facts

Richard Long sued Ruben Cavada, J.P. Morgan Securities LLC, and J.P. Morgan Securities Inc., in relation to his investment in the JPMorgan Income Builders Fund.

CLAIMANT'S CONTENTIONS: Long's causes of action included fraud and deceit, negligent misrepresentation, breach of contract, breach of fiduciary duty, unjust enrichment, and breach of good faith and fair dealing.

RESPONDENTS' CONTENTIONS: The respondents denied Long's claims.

Damages

Long sought general, special, and punitive damages. Long also sought rescission, return of monies, and costs of suit.

Result

Long’s claims were denied and the matter was expunged from Cavada’s Central Registration Depository record.

Other Information

ARBITRATORS: Elliott D. Finkel, presiding chairperson; Michael J. Florio; John R. Sustersic.