Claimants Fail to Deliver Their UPS FINRA Arbitration Against Citigroup - Forbes
In a Financial Industry Regulatory Authority (“FINRA”) Arbitration Statement of Claim filed in April 2009, the Claimants alleged various causes of action including breach of fiduciary duty, suitability, fraud, negligence, and failure to supervise in connection with their purchase of UPS stock. Ultimately, Claimants sought at least $4.5 million in compensatory damages plus additional damages, costs, and fees. In the Matter of the FINRA Arbitration Between Cleveland Currie and Maria Currie, Claimants, vs. Citigroup Global Markets, Inc., Respondent (FINRA Arbitration 09-02155, May 26, 2011).
The FINRA Arbitration Panel denied Claimants’ claims and Respondent’s counterclaim. Further, the Panel recommended the expungement of all reference to arbitration from Babaz’s CRD records subject to Notice to Members 04-16: Expungement.
In a Financial Industry Regulatory Authority (“FINRA”) Arbitration Statement of Claim filed in April 2009, the Claimants alleged various causes of action including breach of fiduciary duty, suitability, fraud, negligence, and failure to supervise in connection with their purchase of UPS stock. Ultimately, Claimants sought at least $4.5 million in compensatory damages plus additional damages, costs, and fees. In the Matter of the FINRA Arbitration Between Cleveland Currie and Maria Currie, Claimants, vs. Citigroup Global Markets, Inc., Respondent (FINRA Arbitration 09-02155, May 26, 2011).
The FINRA Arbitration Panel denied Claimants’ claims and Respondent’s counterclaim. Further, the Panel recommended the expungement of all reference to arbitration from Babaz’s CRD records subject to Notice to Members 04-16: Expungement.