Linden Pasadena Properties, LLC v. Citigroup Global Markets Inc., Susan Griswold Mamer
Published: Jan. 8, 2011 | Result Date: Dec. 2, 2010 | Filing Date: Jan. 1, 1900 |Case number: 09-01102 Arbitration – Defense
Court
FINRA
Attorneys
Claimant
Respondent
Gordon C. Young
(Barr & Young Attorneys)
Experts
Claimant
Mason Dinehart
(technical)
Respondent
Paul Yenofsky
(technical)
Facts
Linden Pasadena Properties LLC entered into arbitration with Citigroup Global Markets Inc. and Susan Mamer regarding the purchase of unspecified preferred stock.
Contentions
CLAIMANT'S CONTENTIONS:
Linden alleged unsuitability, breach of fiduciary duty, misrepresentation, failure to supervise, negligence, gross negligence, recklessness, and violation of securities laws.
RESPONDENTS' CONTENTIONS:
Citigroup and Mamer denied the allegations, asserting various affirmative defenses.
Damages
Linden sought $477,468 in compensatory damages, as well as interest, $1.5 million in punitive damages, attorney fees, and costs.
Result
The arbitration panel denied all of Linden's claims.
Other Information
ARBITRATORS: Robert J. Ruben, Joseph C. Watson, Anna Marie Turco. FILING DATE: Feb. 25, 2009.
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