Facts

Wells Fargo Advisors LLC filed an arbitration claim against Kent Elliott in relation to Elliott's employment with Wells Fargo.

CLAIMANT'S CONTENTIONS:
Claimant alleged that respondent breached a promissory note executed by him on Aug. 17, 2004 amounting to $1,110,592. Claimant also denied Elliott's allegations.

RESPONDENT'S CONTENTIONS:
Respondent denied the allegations, and alleged wrongful termination, intentional and negligent misrepresentation, fraudulent inducement, breach of the duty of good faith and fair dealing, breach of contract, promissory estoppel, unjust enrichment, intentional infliction of emotional distress, intentional interference with prospective economic advantage, defamation, and indemnification. He also sought recovery of unpaid wages, and claimed conversion.

Damages

Claimant sought $631,473.56 plus interest. Respondent sought over $2 million.

Result

The arbitration panel awarded claimant $778,158.83 plus interest.

Other Information

ARBITRATORS: Lester Friedman, Val D. Hornstein, Gary A. Hooker.