Facts

Charles Liotta Trust dated 3/8/94 filed a complaint against Cetera Advisors LLC and John Kincaid, in connection with claimant's investment in the Behringer Harvard Opportunity Real Estate Investment Trust I Inc.

COMPLAINANT'S CONTENTIONS:
Claimant asserted causes of action for breach of fiduciary duty, violation of the National Association of Securities Dealers and FINRA Rules, breach of contract, and negligence.

RESPONDENTS' CONTENTIONS:
Respondents denied claimant's allegations, and asserted various affirmative defenses. They also requested an expungement of their records from the Central Registration Depository.

Damages

Claimant requested $70,000 in compensatory damages, plus interest, costs and fees.

Result

The parties ultimately agreed to settle the dispute. Then, the FINRA Panel recommended the expungement of Kincaid's records, which claimant did not oppose. However, the Panel did not rule on Cetera's expungement request.