Facts

Norman Lipson filed an arbitration claim against RBC Capital Markets LLC in relation to investments in warrant options, shares in MBIA insurance and shares in Suburban Propane Partners LP.

CLAIMANT'S CONTENTIONS: Lipson asserted causes of action against respondent for breach of fiduciary duty; constructive fraud; fraud by misrepresentation and omission; breach of written contract; failure to supervise and control; elder financial abuse; and violation of securities laws.

RESPONDENT'S CONTENTIONS: Respondent denied the claims.

Damages

Lipson sought $200,000 in general and compensatory damages.

Result

The parties reached a settlement. The panel also recommended expungement of this arbitration matter from non-party Lawrence Fann's Central Registration Depository records.

Other Information

ARBITRATORS: Thomas L. Marshall, presiding chairperson, Doris V. Knotter, Chad A. Franks.