Chris Vovos v. The Boston Group and Timothy J. Kennedy
Published: Jun. 27, 1998 | Result Date: May 14, 1998 | Filing Date: Jan. 1, 1900 |Case number: 9703163 Arbitration – $47,449
Court
American Arbitration Association
Attorneys
Plaintiff
Timothy D. McGonigle
(Law Offices of Timothy D. McGonigle APC)
Respondent
Facts
Claimant Chris Vovos alleged that respondents The Boston Group and Timothy J. Kennedy, engaged in fraud and misrepresentation, made unauthorized trades, were negligent, failed to comply with NASD rules, breached their fiduciary duty to claimant, and failed to conduct due diligence. Claimant also alleged that respondent The Boston Group failed to properly supervise Timothy J. Kennedy. Claimant alleged that the respondents' wrongdoing involved the purchase of Logic Works Inc. stock and the sale of the claimant's holdings in Novadigm Inc. Respondents denied the allegations of wrongdoing found in the claimant's statement of claim.
Settlement Discussions
Settlement discussions were not disclosed.
Damages
Claimant requested general damages for all amounts lost on the investments of at least $75,506, punitive damages, interest on the general damages from the date of loss, costs and reasonable attorney fees. Respondents requested the dismissal of the claimant's Statement of Claim in its entirety and sought an award of costs and attorney fees.
Other Information
The award was rendered approximately nine months after the case was filed. A binding arbitration was held over five sessions before NASD Arbitrators, Donald Simons, John H. Knight, Jr. and Lionel S. Heller, resulting in the reported award.
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