Securities
Suitability
Real Estate
Michael Bodnar v. Sagepoint Financial Inc.
Published: Nov. 15, 2014 | Result Date: Oct. 20, 2014 | Filing Date: Jan. 1, 1900 |Case number: 13-03539 Arbitration – $6,121
Facts
Michael Bodnar filed for arbitration against Sagepoint Financial Inc. in relation to his investment in Inland American Real Estate Trust Inc.
Contentions
CLAIMANT'S CONTENTIONS:
Claimant alleged unsuitability, breach of fiduciary duty, negligence, fraud, misrepresentation and failure to supervise.
Damages
Claimant sought rescission of the investment, return of the principal amount of the investment of $50,000, minus cash distributions of $3,375 he had received, as well as pre-award interest.
Result
The arbitrator determined that respondent is liable to Bodnar for $6,121 and denied respondent's expungement request.
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