Sal Curattalo, Mary Curattalo v. Mark Anthony Infino, Robert Joseph Keyes, Jr., Royal Alliance Associates Inc., Tricor Financial LLC
Published: Nov. 29, 2014 | Result Date: Nov. 6, 2014 | Filing Date: Jan. 1, 1900 |Case number: 13-02836 Arbitration – $45,000
Facts
Sal Curattalo and Mary Curattalo filed a complaint against Mark Infino, Robert Keyes, Royal Alliance Associates Inc., and Tricor Financial LLC, in connection with their investments in Behringer Harvard Real Estate Investment Trust I and KBS REIT 1.
Contentions
CLAIMANTS' CONTENTIONS:
Claimants asserted causes of action for failure to supervise, violation of FINRA Rules, recommendation of unsuitable investments, failing to conduct adequate due diligence, and unaccredited investor violation.
RESPONDENTS' CONTENTIONS:
Respondents denied the allegations, and asserted various affirmative defenses.
Damages
Claimants requested approximately $200,000 in compensatory damages and an unspecified amount in damages for lost opportunity cost and punitive and exemplary damages. Claimants also requested interest, costs, and $82,773 in fees.
Result
Claimants dismissed respondents Tricor and Keyes. Next, the FINRA Panel found Royal alliance liable to claimants for $45,000 in compensatory damages. However, the Panel denied claimants' claims against Intino. The Panel also denied claimants' request for punitive and exemplary damages.
Other Information
ARBITRATORS: Robert A. Lombardi, Philip H. Marmurowski, William R. Rafti
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