Mariam Nigohosian v. Charies Schwab & Co. Inc.
Published: Mar. 8, 2014 | Result Date: Feb. 11, 2014 | Filing Date: Jan. 1, 1900 |Case number: 11-03358 Arbitration – Respondent
Court
FINRA
Attorneys
Claimant
Arthur S. Leider
(Investors Arbitration Specialists LLC)
Respondent
Anthony L. Valenzuela
(Charles Schwab & Co.)
Facts
Mariam Nigohosian filed a complaint against Charles Schwab & Co. Inc., concerning various securities.
Contentions
COMPLAINANT'S CONTENTIONS:
Nigohosian asserted causes of action for violation of FINRA Rule 2020; violation of fair dealings with customers; breach of contract; failure to execute a customer order; common law fraud and deceit; breach of fiduciary; negligence; negligent retention; and conversion.
RESPONDENT'S CONTENTIONS:
Charles Schwab denied Nigohosian's allegations and asserted various affirmative defenses. Charles Schwab sought the dismissal of Nigohosian's complaint, and requested the expungement of Ethan Ribler's records.
Damages
Nigohosian requested $985,000 in compensatory damages plus interest, costs, attorney fees, punitive damages, and other relief. At the close of hearing, she lowered her request to $524,294.
Result
The FINRA Panel found that Ribler committed no misconduct in connection with Nigohosian's accounts. Consequently, Nigohosian's claims were found to be factually impossible or clearly erroneous. It also found her allegations to be false, and denied Nigohosian's claims in its entirety. The panel also recommended the expungement of Ribler's records.
Other Information
ARBITRATORS: Joseph B. Russell, Sandra Gale Behrle and Philip M. Mandel
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