The Delp Heritage Trust v. Charles Schwab & Company Inc.
Published: Aug. 16, 2014 | Result Date: Jul. 22, 2014 | Filing Date: Jan. 1, 1900 |Case number: 13-01163 Arbitration – $110,000
Facts
The Delp Heritage Trust filed an arbitration against Charles Schwab & Co. Inc. in connection with co-trustees of the trust.
Contentions
CLAIMANT'S CONTENTIONS:
Claimant alleged breach of contract, tortious interference with business relationship and breach of fiduciary duty. In particular, claimant asserted that respondent improperly engaged in a wrongful scheme to interfere with relationships between co-trustees of the Trust by requiring a co-trustee to resign, wrongfully terminating the Trust as a client, and requiring the resignation of the RIA and the Trust Advisor. Claimant sought lost profits as a result of respondent's improper conduct.
RESPONDENT'S CONTENTIONS:
Respondent denied the claims.
Damages
Claimant sought $1,225,000 in actual/compensatory damages.
Result
The arbitration panel awarded claimant $110,000.
Other Information
ARBITRATORS: Kenneth J. Safran, Terrance J. Dorcy and Cyrus K. Motlagh
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