Wedbush Securities v. Said Alexander Javidi
Published: Jan. 24, 2015 | Result Date: Dec. 15, 2014 | Filing Date: Jan. 1, 1900 |Case number: 14-01769 Arbitration – Claimant
Facts
Wedbush Securities Inc. filed a complaint against Said Javidi, in connection with Javidi's employment with the company.
Contentions
CLAIMANT'S CONTENTIONS:
Claimant contended that it loaned a laptop to respondent and that respondent executed four promissory notes between March 2007 and February 2008. Claimant asserted claims for breach of contract, equitable claim for money loaned, payroll deficit, unjust enrichment, and conversion related to the notes.
Damages
Claimant requested $181,350, which was the balance of the four notes, $1,132 in payroll deficit, the return of the laptop, and attorney fees and costs.
Result
The FINRA Panel found Javidi, who did not appear at the evidentiary hearing, liable to Wedbush in the amount of $213,473 in compensatory damages, plus $1,000 in reimbursement of fees.
Other Information
ARBITRATORS: Steven J. Feldman, George L. Tindall, and Salvatore A. Sciortino. FILED: June 2, 2014.
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