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Securities
NASD
Breach of Fiduciary Duty

William Feinstein v. Merrill Lynch, Pierce, Fenner & Smith, Incorporated

Published: Dec. 9, 2006 | Result Date: Sep. 21, 2006 | Filing Date: Jan. 1, 1900 |

Case number: 05-02377 Arbitration –  Defense

Court

Arbitration Forum


Attorneys

Claimant

William L. Feinstein


Respondent

Robert B. Ericson
(Albert & Will LLP)


Facts

Claimant William Feinstein alleged breach of fiduciary duty, fraud, securities fraud, and negligence. His claim arose from the purchase of securities in Tyco International.

Respondent Merrill Lynch, Pierce, Fenner & Smith Inc. disputed the claims of wrongful conduct and asserted affirmative defenses.

Damages

Claimant sought $95,200. The claimed damages covered compensatory and exemplary damages, as well as prejudgment interest and costs, including attorney fees. Respondent sought dismissal of the claim.

Result

Claimant's claims were denied.

Other Information

Respondent filed a motion to dismiss the claim, which the panel granted. Arbitration panel: Ronald L. Cameron, Jeffrey P. Palmer and Linda L. Blackwell.


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