Facts

Claimants Marina Bautista, Frank DiGrande, Trilby DiGrande, Feliciano Dizon, Harriett Eubanks, and Evelyn Johnson, asserted claims against respondents Royal Alliance Associates Inc., Richard A. McCollam, Kathleen J. Tarr, and Brent C. Wolf, in connection with their investments in a real estate trust.

CLAIMANTS' CONTENTIONS:
Claimants contended that respondents violated the law relating to their investments in a real estate investment trust and various annuities. Plaintiffs asserted causes of action for breach of contract, breach of fiduciary duty, fraud, and fraud in the inducement, false representations, and failure to supervise.

RESPONDENTS' CONTENTIONS:
Respondent denied claimants' material allegations and asserted various affirmative defenses.

Damages

Claimants sought lost opportunity damages based on ideal model portfolios.

Result

The panel determined that respondents McCollam, Tarr and Royal Alliance Associates Inc. were jointly and severally liable to claimants for compensatory damages to Bautista for $22,912.08, DiGrande for $11,662.07, Dizon for $5,447.78, Eubanks for $15,283.62, and Johnson for $36,602.31. The panel dismissed the failure to supervise claim against Royal Alliance. It recommended expungement of all references of the current dispute from respondent Wolf's Central Registration Depository registration records.

Other Information

ARBITRATORS: Jeffrey M. Allen, Amy Seltzer, Joseph H. Sturdivant.