John C. Porter, Successor Trustee of the Robert O. and Mary H. Porter Family Trust v. Laheeb Zouhair Karana and Wells Fargo Advisors LLC
Published: Oct. 24, 2015 | Result Date: Aug. 17, 2015 | Filing Date: Jan. 1, 1900 |Case number: 14-03382 Arbitration – Expungement
Facts
John Porter, Successor Trustee of the Robert O. and Mary H. Porter Family Trust, filed a complaint against Laheeb Karana and Wells Fargo Advisors LLC, in connection with the handling of claimant's trust account.
Contentions
CLAIMANT'S CONTENTIONS:
Claimant asserted causes of action for breach of fiduciary duty, failure to supervise, and negligence.
RESPONDENTS' CONTENTIONS:
Respondents requested a dismissal and the expungement of Karana's CRD records.
Result
Claimant dismissed claims with prejudice after answer was filed. The arbitrator found Porter's claims factually impossible, false, or clearly erroneous. Karana then required expungement of her CRD records.
Other Information
FILING DATE: Nov. 4, 2014
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