Facts

James Dickerson on behalf of himself, his Individual Retirement Account and as a Trustee for the Dickerson Family Trust and Mary Dickerson, on behalf of herself, her Individual Retirement Account and as Trustee for the Dickerson Family Trust, filed suit against Prudential Equities Group, A.G. Edwards & Sons, and Shoshana Lev-Bar.

CONTENTIONS:
Plaintiffs claimed that defendants made unsuitable investments, in the purchase and/or sale of various mutual funds and technology stocks. Plaintiffs alleged negligence, misrepresentations and omissions, breach of contract, constructive fraud, breach of fiduciary duty, negligent supervision and respondeat superior. They also asserted violations of the NASD Conduct Rules and NYSE Rules, violations of California Corporations Code Sections 25401 and 25501, and violations of the California Code of Regulations 260.216.4, 260.218.1, 260.218.2, 260.218.4(a), and 260.218.6. Defendants specifically admitted certain allegations, but denied the rest. They also asserted various affirmative defenses.

Damages

Plaintiffs requested an unspecified sum for compensatory damages, punitive damages, pre and post judgment interest, and costs. They also sought disgorgement of commissions, charges and fees paid to defendants.

Result

A.G. Edwards & Sons was found liable to the Mary Dickerson Individual Retirement Account for $34,425 in compensatory damages, plus interest at the rate of four percent per annum from June 1, 2004 until the award if paid in full. Shoshana Lev-Bar was found liable to the Mary Dickerson Individual Retirement Account for $3,825 in compensatory damages, plus interest at the rate of four percent per annum from June 1, 2004 until the award if paid in full. All of plaintiff James Dickerson's claims, on behalf of himself, his Individual Retirement Account, and as Trustee for the Dickerson Family Trust were denied. All plaintiff's claims against Prudential Equities Group, LLC were dismissed with prejudice.

Other Information

Plaintiff's claims against David Harrison Rascoe were dismissed without prejudice.