Judith I. Graves v. Merrill Lynch, Pierce, Fenner & Smith Inc., Verle Millsap
Published: May 3, 2005 | Result Date: Feb. 17, 2005 | Filing Date: Jan. 1, 1900 |Case number: 0204039 Arbitration – $830,000
Court
San Bernardino Superior
Attorneys
Plaintiff
Roger J. Buffington
(Buffington Law Firm PC)
Defendant
Experts
Plaintiff
Mary Calhoun
(technical)
Defendant
John A. Stillman
(technical)
Facts
Claimant Judith Graves, a 63-year-old retired widow, never owned stocks or bonds until she received funds by way of a life insurance payout on her deceased husband, who was one of the five owners of a major Inland Empire construction company. From January 2000 to July 2002, she was a customer of respondent stockbroker Verle Millsap of Merrill Lynch, Pierce, Fenner & Smith Inc.
Settlement Discussions
The claimant made a demand of $3 million.
Damages
The claimant sought a total of $3,581,845 in damages. The claimant alleged she suffered out-of-pocket losses of $1,668,286.
Result
Following the arbitration hearing, the claimant received an award of $830,000. The case was arbitrated by Arthur F. Brueggman, Elizabeth Copely and Noel J. McDonald.
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