Lyle W. Swenson Jr., Michelle Swenson v. Wachovia Securities, LLC n/k/a Wells Fargo, Advisors, LLC, Craig Alan Riley
Published: Feb. 25, 2012 | Result Date: Jan. 20, 2012 | Filing Date: Jan. 1, 1900 |Case number: 09-03569 Arbitration – Dismissal
Court
FINRA
Attorneys
Claimant
Respondent
G. Thomas Fleming III
(Jones, Bell, Abbott, Fleming & Fitzgerald LLP)
Facts
Lyle and Michelle Swenson filed a claim against Wachovia Securities LLC nka Wells Fargo Advisors LLC and Craig Riley related to unauthorized distribution of funds and wire transfers from claimants' accounts. Claimants asserted breach of fiduciary duty, fraud, and negligence against respondents.
Damages
Claimants sought lost principal of at least half a million dollars, lost interest and investment return on the lost principal, interest, punitive and exemplary damages, attorney fees and costs as well as other relief.
Result
The Panel dismissed claimants' claims without prejudice as against both respondents following the parties' resolution.
Other Information
Respondent Craig Alan Riley is in pro per. ARBITRATORS: Mary M. O'Neil, Robert A. Lombardi, Kenneth E. Kreh.
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