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Securities
Breach of Contract
Negligent Supervision

Medhat Yacoub v. Fidelity Brokerage Services LLC

Published: Jun. 14, 2019 | Result Date: May 1, 2019 | Filing Date: Jul. 13, 2017 |

Case number: FINRA: 17-01859 Arbitration –  Expungement

Arbitrator

George H. Frisch


Attorneys

Claimant

Gary S. Menzer
(Menzer & Hill PA)


Respondent

Scott E. Rahn
(RMO LLP)


Facts

Medhat Yacoub filed an arbitration claim against Fidelity Brokerage Services LLC in relation to his investment in VelocityShares 3x Long Crude Oil ETN.

Contentions

CLAIMANT'S CONTENTIONS: Yacoub asserted causes of action for negligent supervision, failure to supervise, negligence breach of fiduciary duty, breach of contract, misrepresentations, and omissions.

RESPONDENT'S CONTENTIONS: Respondent denied the allegations.

Result

The arbitrator recommended expungement of the matter.


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