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Securities
Breach of Fiduciary Duty
Unfair Competition

Bob Rogers, in his individual capacity, and as trustee of the Bobby and Michele Rogers Family Trust dated June 12, 2015 v. Morgan Stanley Smith Barney LLC, Robert Alan Nelson

Published: Dec. 28, 2018 | Result Date: Sep. 26, 2018 | Filing Date: Jul. 24, 2017 |

Case number: FINRA: 17-01935 Arbitration –  Respondent

Arbitrator

Sally G. Williams


Attorneys

Claimant

Juan C. Castaneda
(Castaneda Lawyers PC)


Respondent

Nicholas Y. Lin
(Morgan Stanley Smith Barney)


Facts

Bob Rogers filed an arbitration claim against Morgan Stanley and Robert Nelson in relation to his investments in hedge funds.

Contentions

CLAIMANT'S CONTENTIONS: Rogers asserted breach of Securities Exchange Commission duties, breach of FINRA duties, breach of fiduciary care, constructive fraud, negligence, failure to supervise, unsuitability of investments, unjust enrichment and unfair competition against respondents in relation to investment in hedge funds.

RESPONDENTS' CONTENTIONS: Respondents denied the contentions.

Result

The panel found in favor of respondents and denied all of Rogers' claims because it found that Rogers had approved the investment as proposed by respondents.

Other Information

ARBITRATORS: Sally G. Williams, presiding chairperson; Thomas L. Marshall, Charles Chia-Lin Hsieh.


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