Securities
Elder Abuse
Bonnie L. Hester (IRA), James L. Hester (IRA) v. Charles Schwab & Co. Inc., Gregg Alexander Alsbury
Published: Mar. 1, 2019 | Result Date: Dec. 17, 2018 | Filing Date: Apr. 5, 2018 |Case number: FINRA: 18-01325 Arbitration – Expungement
Facts
Bonnie Hester, James Hester filed an arbitration claim against Charles Schwab & Co. Inc. and Gregg Alsbury in relation to investments into exchange-traded funds.
Contentions
CLAIMANTS' CONTENTION: Claimants asserted causes of action for, elder abuse, blocked from timely accessing account, and unsuitable investment recommendations.
RESPONDENTS' CONTENTIONS: Respondents denied all allegations and asserted all relevant affirmative defenses.
Settlement Discussions
Claimants sought $1,989 in compensatory damages.
Result
The Arbitrator determined that all claimants' claims should be denied, and recommended that all references to the arbitration be expunged from the Central Registration Depository.
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