Herbert S. Madan, Herbert S. Madan Revocable Trust UAD April 23, 1997 v. Wells Fargo Investments LLC
Published: May 28, 2016 | Result Date: Apr. 8, 2016 | Filing Date: Jan. 1, 1900 |Case number: 12-03692 Settlement – Expungement
Court
FINRA
Attorneys
Claimant
John D. Singer
(Singer Deutsch LLP)
Respondent
Jennifer I. Machlin
(Winston & Strawn LLP)
Donald S. Davidson
(Law Office of Donald S. Davidson)
Facts
Herbert Madan and the Herbert S. Madan Revocable Trust UAD April 23, 1997 filed a complaint against Wells Fargo Investments LLC, related to investments in Auction Rate Securities.
Contentions
PETITIONERS' CONTENTIONS:
Petitioner alleged a cause of action for consequential damages.
RESPONDENT'S CONTENTIONS:
Respondent denied the allegations and asserted various affirmative defenses.
Damages
Petitioners sought $32,656,600 in damages.
Result
The FINRA Panel subsequently recommended expungement of two unnamed parties' CRD records.
Other Information
ARBITRATORS: Linda M. McCoy, John P. Wilson, Kenneth W. Gosliner. FILING DATE: Oct. 19, 2012.
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