David C. Swedelson and Sandra Gottlieb, trustees of the Swedelson & Gottlieb Cash Balance Plan Trust v. RBC Dain Rauscher n/k/a RBC Capital Markets, LLC and Mitchell Ross Pindus
Published: Nov. 12, 2011 | Result Date: Oct. 17, 2011 | Filing Date: Jan. 1, 1900 |Case number: 10-03270 Arbitration – $10,000
Court
Arbitration Forum
Attorneys
Claimant
H. Thomas Fehn
(Fields Fehn & Sherwin)
Respondent
Michael M. Gless
(Keesal, Young & Logan)
Facts
David C. Swedelson and Sandra Gottlieb, trustees of the Swedelson & Gottlieb Cash Balance Plan Trust, filed a complaint against RBC Dain Rauscher n/k/a RBC Capital Markets LLC and Mitchell Ross Pindus related to the purchase of various bonds. Claimants asserted unsuitability, misrepresentation, and breach of fiduciary duty.
Damages
Claimants sought rescission of any securities in the approximate amount of $242,183 plus interest, attorney fees and costs.
Result
The FINRA arbitration panel determined that respondents were jointly and severally liable to claimants for $10,000 in compensatory damages. In addition, respondents' counterclaim, Pindus' request for expungement, and other relief not specifically addressed were all denied.
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