Robert M. Sapp Jr. v. ING Financial Partners Inc., Howard R. Pinson
Published: Aug. 4, 2012 | Result Date: Jul. 10, 2012 | Filing Date: Jan. 1, 1900 |Case number: 09-00543 Arbitration – $190,000
Court
FINRA
Attorneys
Claimant
David Gaba
(Compass Law Group )
Respondent
Shannon L. McDougald
(McDougald Law Group PS)
Trent M. Latta
(McDougald Law Group PS)
Louie H. Castoria
(Kaufman, Dolowich & Voluck LLP)
Facts
Robert Sapp filed a complaint against ING Financial Partners Inc. and Howard Pinson for misrepresentations and omissions of material facts, vicarious liability, failure to supervise, violation of Revised Code of Washington Sections 21.20.010 and 21.20.140, violation of state and federal securities laws, violation of the Washington Consumer Protection Act, breach of duties, including fiduciary duties, and breach of contractual duties relevant to claimant's investment in Washington Custom Builders Inc. Respondents denied the allegations.
Damages
At the close of hearing, Sapp requested alternative sets of damages as follows: under the Securities Act for $386,600, $455,000 in tort damages, and $260,000 in damages under the Washington Consumer Protection Act.
Result
The FINRA Panel found Pison liable to Sapp for $115,000 in compensatory damages plus 8 percent interest if the award is not paid by the date set by the arbitrators, and $75,000 in damages under RCW Section 21.20.430. The Panel also denied Pinson's request for expungement, and dismissed all claims against Respondent ING with prejudice.
Other Information
ARBITRATORS: Robert Charkovsky, Paul D. Pearlstein, Bryon P. Fusini.
For reprint rights or to order a copy of your photo:
Email
jeremy@reprintpros.com
for prices.
Direct dial: 949-702-5390