Facts

The Hextall Family Living Trust filed for arbitration against J.P. Morgan Securities LLC and Robert Klein.

PLAINTIFF'S CONTENTIONS:
Hextall asserted causes of action for fraud, negligence, misrepresentation, breach of contract, breach of fiduciary duty, unsuitability, misleading communications, and failure to supervise. The causes of action related to allegations that the respondents inappropriately managed Hextall's assets through an over concentration on short sales.

DEFENDANT'S CONTENTIONS:
The respondents denied Hextall's allegations and asserted various affirmative defenses.

Damages

Hextall requested compensatory damages of $1.28 million.

Result

The arbitration panel recommended the expungement of all references to this arbitration matter from William Bland's arbitration records, finding that he was not involved in any misconduct.

Other Information

ARBITRATORS: Steven A. Wawra, Norman Michael Garland and Andrew Corell Wahrenbrock.