Securities
Breach of Fiduciary Duty
Unauthorized Trading, Failure to Supervise
Thomas E. Turk, Thomas E. Turk Revocable Trust, Thomas E. Turk Trust v. Northeast Securities Inc., Roy A. Norman
Published: Mar. 21, 2009 | Result Date: Feb. 2, 2009 | Filing Date: Jan. 1, 1900 |Case number: 06-02604 Arbitration – $66,800
Court
Arbitration Forum
Attorneys
Claimant
Respondent
Charles M. O'Rourke
(Law Offices of Charles M. O'Rourke)
Facts
Thomas Turk, Thomas Turk Revocable Trust, and Thomas Turk Trust sued Northeast Securities Inc. and Roy Norman for churning, unauthorized trading, unsuitability, failure to supervise, breach of fiduciary duty, and breach of contract.
Contentions
PLAINTIFF'S CONTENTIONS:
The claimants alleged that the respondents mishandled accounts involving their investments in securities.
Damages
The claimants requested $304,000.
Result
The arbitration panel awarded the claimants $66,800. Respondents were held jointly and severally liable.
Other Information
ARBITRATORS: Audrey H. Ruben, Lester G. Stiel, John P. Cione.
#81845
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