Facts

Claimant Mary Nassimi brought an NASD arbitration claim against Respondents Brookstreet Securities Corp. and Allen Haghighinia. The claimant alleged breach of fiduciary duty, unsuitability, churning, negligence and failure to supervise. The claimant's allegations involved transactions in unspecified securities.

The respondents denied the allegations of wrongdoing.

Damages

The claimant sought $61,877 in compensatory damages, exemplary damages, pre-judgment interest and costs, including attorney fees. The respondents sought to have the claimant's Statement of Claim dismissed in its entirety. The respondents also sought costs, including attorney fees.

Result

The Panel found the respondents jointly and severally liable to the claimant. The Panel also found that the respondents shall pay the claimant $41,251 in compensatory damages.

Other Information

Arbitration panel consisted of Frederick N. Bailard, Esq., Willard H. Altman, Jr., and James P. Murphy.