Bill John Callis v. Banc of America Investment Services Inc.
Published: Mar. 17, 2012 | Result Date: Feb. 14, 2012 | Filing Date: Jan. 1, 1900 |Case number: 10-03313 Arbitration – Mixed
Facts
Bill John Callis filed suit against Banc of America Investment Services Inc. ("BAI") alleging that BAI wrongfully terminated him and then placed false and negative information on his Form U5 regarding his departure. Callis asserted breach of contract, breach of covenant of good faith and fair dealing, negligence, intentional interference with prospective business relationships, defamation, and request for expungement of false information on the Form U5.
BAI filed a counterclaim and asserted failure to repay promissory notes, breach of contract, and unjust enrichment.
Damages
Claimant requested $6,266,955 in actual and compensatory damages. In its counterclaim, BAI requested $77,229.
Result
The arbitrator ruled that BAI was liable for $43,000 in compensatory damages to Callis. Callis was liable for $77,229 in compensatory damages to BAI.
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