Kayla Ann Roderick Trust, Olive M. Lawrence Trust, Candace Roderick v. Merrill Lynch Pierce Fenner & Smith Inc.
Published: Mar. 31, 2012 | Result Date: Jan. 20, 2012 | Filing Date: Jan. 1, 1900 |Case number: 10-04306 Settlement – Equitable Settlement
Facts
Kayla Ann Roderick Trust, Olive M. Lawrence Trust, and Candace Roderick filed a claim against Merrill Lynch Pierce Fanner & Smith Inc. in relation to unspecified equity investments in managed accounts.
Contentions
CLAIMANT'S CONTENTIONS:
Claimants alleged breach of fiduciary duty, fraudulent misrepresentation, negligence, negligent supervision, unjust enrichment, and breach of contract.
RESPONDENT'S CONTENTIONS:
Respondent denied the allegations.
Damages
Claimants sought $203,007.10 in compensatory damages.
Result
The parties entered into a confidential settlement. The arbitration panel recommended expungement for an unnamed party, and determined that the claims alleged were false and erroneous. As part of the agreement, claimant did not act to oppose the respondent's request for expungement.
Other Information
ARBITRATORS: Mary C. Kelleher, James R. Collins, Christine Armstrong.
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