Hugh and Jill Mays individually and as Trustees of the Mays Family Trust dated March 28, 2001 v. Ameriprise Financial Services, Inc., Richard H. Fogg, Orin M. Green dba Fogg, Green and Associates
Published: Dec. 31, 2011 | Result Date: Nov. 28, 2011 | Filing Date: Jan. 1, 1900 |Case number: 10-03001 Arbitration – Respondents
Court
Arbitration Forum
Attorneys
Claimant
Arthur S. Leider
(Investors Arbitration Specialists LLC)
Respondent
Facts
Hugh and Jill Mays asserted claims in arbitration against Ameriprise Financial Services Inc., Richard Fogg, and Orin Green regarding investment management and financial planning services.
Contentions
CLAIMANTS' CONTENTIONS:
The Mays alleged breach of contract, negligence, failure to supervise, unsuitability, breach of fiduciary duty, fraud, and improper stock purchases.
RESPONDENT'S CONTENTIONS:
Ameriprise, Fogg, and Green denied the allegations, asserting various affirmative defenses.
Damages
The Mays sought damages of $600,000 for lost principal, reimbursement, and punitive damages of $600,000.
Result
The arbitration panel denied the claims, and ordered expungement of Orin Green's CRD records.
Other Information
Arbitrators: Lawrence Alexander Huerta, Jon C. Milliken, Michael F. Brown
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