Wells Fargo Clearing Services, LLC (d/b/a Wells Fargo Advisors) v. David Krikorian
Published: Aug. 7, 2020 | Result Date: Mar. 11, 2020 | Filing Date: Jun. 26, 2018 |Case number: FINRA: 18-02379 Arbitration – Claimant
Facts
Claimant Wells Fargo Clearing Services, LLC filed a statement of claim against respondent David Krikorian related to a promissory note entered into by the parties.
Contentions
CLAIMANT'S CONTENTIONS: Claimant contended breach of contract and unjust enrichment. Claimant requested the principal and the interest rate. Moreover, Claimant denied respondent's counter allegations.
RESPONDENT'S CONTENTIONS: Respondent denied the allegations and alleged claimant induced him to join claimant through promises and representations that failed to keep. Respondent requested compensatory and punitive damages.
Result
Respondent agreed to pay claimant $15,000 in compensatory damages plus 4.66 percent interest.
Other Information
ARBITRATORS: Kevin C. Coleman, presiding chairperson, Philip Aaron Tymon, Meredith F. Hoffman.
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